BofI’s (BOFI) Buy Rating Reaffirmed at Sandler O’Neill
Sandler O’Neill reissued their buy rating on shares of BofI (NASDAQ:BOFI) in a research report sent to investors on Wednesday. They currently have a $38.00 price target on the financial services provider’s stock.
Other equities research analysts have also issued research reports about the company. FBR & Co reissued a buy rating and issued a $36.00 target price (down previously from $37.00) on shares of BofI in a research note on Thursday, October 26th. Craig Hallum reissued a buy rating and issued a $39.00 target price (up previously from $35.00) on shares of BofI in a research note on Wednesday, October 4th. Zacks Investment Research raised BofI from a hold rating to a buy rating and set a $33.00 target price for the company in a research note on Wednesday, December 27th. BidaskClub raised BofI from a hold rating to a buy rating in a research note on Wednesday, December 20th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $30.00 target price on shares of BofI in a research note on Thursday, October 26th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $36.00.
Shares of BofI (NASDAQ BOFI) opened at $36.58 on Wednesday. BofI has a 52 week low of $21.60 and a 52 week high of $38.51. The company has a quick ratio of 1.13, a current ratio of 1.15 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $2,286.21, a PE ratio of 16.40, a PEG ratio of 1.48 and a beta of 0.45.
In related news, Director Mosich Nick sold 18,308 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $27.75, for a total transaction of $508,047.00. Following the transaction, the director now owns 83,018 shares in the company, valued at approximately $2,303,749.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.24% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in BOFI. Mesirow Financial Investment Management Equity Management purchased a new position in BofI during the 4th quarter valued at about $21,991,000. APG Asset Management N.V. increased its holdings in BofI by 691.1% during the 4th quarter. APG Asset Management N.V. now owns 407,400 shares of the financial services provider’s stock valued at $10,144,000 after purchasing an additional 355,900 shares during the period. Wasatch Advisors Inc. increased its holdings in BofI by 69.4% during the 2nd quarter. Wasatch Advisors Inc. now owns 632,947 shares of the financial services provider’s stock valued at $15,014,000 after purchasing an additional 259,310 shares during the period. OxFORD Asset Management LLP purchased a new position in BofI during the 3rd quarter valued at about $5,993,000. Finally, Stifel Financial Corp increased its holdings in BofI by 272.1% during the 2nd quarter. Stifel Financial Corp now owns 224,187 shares of the financial services provider’s stock valued at $5,252,000 after purchasing an additional 163,933 shares during the period. Institutional investors own 84.69% of the company’s stock.
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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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