BofI Holding Inc. (BOFI) Rating Increased to Buy at Zacks Investment Research
BofI Holding Inc. (NASDAQ:BOFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The brokerage currently has a $25.00 price objective on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 13.79% from the company’s previous close.
According to Zacks, “Bofi Holding is the holding company for Bank of Internet USA, a consumer-focused, nationwide savings bank operating primarily through the Internet from a single location in San Diego, California. They provide a variety of consumer banking services, focusing primarily on gathering retail deposits over the Internet and originating and purchasing multifamily and single family loans for investment. “
Several other equities research analysts have also issued reports on BOFI. FBR & Co restated a “buy” rating and issued a $33.00 target price on shares of BofI Holding in a report on Thursday, August 4th. Vetr lowered shares of BofI Holding from a “strong-buy” rating to a “buy” rating and set a $19.48 target price for the company. in a report on Thursday, June 30th. Finally, DA Davidson restated a “buy” rating on shares of BofI Holding in a report on Tuesday, August 23rd. Six analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $31.24.
Shares of BofI Holding (NASDAQ:BOFI) opened at 21.97 on Tuesday. The stock has a market cap of $1.39 billion, a PE ratio of 11.88 and a beta of 0.22. The firm has a 50-day moving average of $20.40 and a 200-day moving average of $19.04. BofI Holding has a one year low of $13.47 and a one year high of $35.98.
BofI Holding (NASDAQ:BOFI) last released its earnings results on Tuesday, August 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. BofI Holding had a net margin of 31.02% and a return on equity of 19.02%. During the same period last year, the firm posted $1.54 earnings per share. On average, equities research analysts expect that BofI Holding will post $2.14 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the stock. AXA raised its stake in shares of BofI Holding by 100.0% in the first quarter. AXA now owns 110,400 shares of the company’s stock worth $2,356,000 after buying an additional 55,200 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in BofI Holding by 314.3% in the first quarter. UBS Asset Management Americas Inc. now owns 125,951 shares of the company’s stock worth $2,688,000 after buying an additional 95,551 shares during the period. State Street Corp increased its position in BofI Holding by 1.4% in the first quarter. State Street Corp now owns 1,163,813 shares of the company’s stock worth $24,836,000 after buying an additional 16,095 shares during the period. Royce & Associates LP acquired a new position in BofI Holding during the first quarter worth approximately $363,000. Finally, TimesSquare Capital Management LLC increased its position in BofI Holding by 4.0% in the first quarter. TimesSquare Capital Management LLC now owns 2,513,595 shares of the company’s stock worth $53,640,000 after buying an additional 96,515 shares during the period. Institutional investors own 94.29% of the company’s stock.
About BofI Holding
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, distribution channels and affinity partners. The Bank has deposit and loan customers across the nation, 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BofI Holding Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BofI Holding Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.