BidaskClub Lowers BofI (BOFI) to Hold
BidaskClub lowered shares of BofI (NASDAQ:BOFI) from a buy rating to a hold rating in a report issued on Friday.
Other analysts have also issued reports about the company. FBR & Co reiterated a buy rating and issued a $36.00 price objective (down from $37.00) on shares of BofI in a research report on Thursday, October 26th. Keefe, Bruyette & Woods restated a market perform rating and set a $31.00 target price on shares of BofI in a research report on Monday, October 9th. ValuEngine lowered BofI from a strong-buy rating to a buy rating in a research report on Thursday, August 24th. Zacks Investment Research upgraded BofI from a sell rating to a hold rating in a research report on Monday, December 4th. Finally, Craig Hallum restated a buy rating and set a $39.00 target price (up from $35.00) on shares of BofI in a research report on Wednesday, October 4th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $34.50.
BofI (NASDAQ BOFI) traded down $0.25 during trading on Friday, hitting $27.17. The company had a trading volume of 37,878 shares, compared to its average volume of 763,859. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.13 and a quick ratio of 1.13. BofI has a fifty-two week low of $21.60 and a fifty-two week high of $32.57. The company has a market capitalization of $1,745.45, a PE ratio of 12.93, a price-to-earnings-growth ratio of 1.15 and a beta of 0.39.
BofI (NASDAQ:BOFI) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. BofI had a return on equity of 17.00% and a net margin of 29.36%. The business had revenue of $93.89 million during the quarter, compared to analysts’ expectations of $94.93 million. During the same period in the previous year, the business posted $0.45 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. equities analysts predict that BofI will post 2.38 EPS for the current fiscal year.
In other BofI news, Director Edward James Ratinoff sold 7,540 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $26.80, for a total value of $202,072.00. Following the transaction, the director now directly owns 29,600 shares of the company’s stock, valued at approximately $793,280. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mosich Nick sold 18,308 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $27.75, for a total value of $508,047.00. Following the completion of the transaction, the director now directly owns 83,018 shares in the company, valued at $2,303,749.50. The disclosure for this sale can be found here. Insiders own 6.24% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. lifted its position in shares of BofI by 69.9% during the 3rd quarter. Victory Capital Management Inc. now owns 5,746 shares of the financial services provider’s stock worth $164,000 after buying an additional 2,365 shares during the last quarter. Van Hulzen Asset Management LLC bought a new stake in shares of BofI during the 3rd quarter worth $211,000. Stoneridge Investment Partners LLC bought a new stake in shares of BofI during the 3rd quarter worth $214,000. Jaffetilchin Investment Partners LLC bought a new stake in shares of BofI during the 3rd quarter worth $228,000. Finally, Amalgamated Bank bought a new stake in shares of BofI during the 3rd quarter worth $231,000. 84.40% of the stock is currently owned by hedge funds and other institutional investors.
BofI Company Profile
BofI Holding, Inc (BofI) is the holding company for BofI Federal Bank (the Bank). The Bank is a diversified financial services company. The Bank provides consumer and business banking products through its branchless, low-cost distribution channels and affinity partners. The Bank has deposit and loan customers, including consumer and business checking, savings and time deposit accounts and financing for single family and multifamily residential properties, small-to-medium size businesses in target sectors, and selected specialty finance receivables.
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