BidaskClub upgraded shares of BofI (NASDAQ:BOFI) from a hold rating to a buy rating in a research note issued to investors on Wednesday.

A number of other brokerages have also commented on BOFI. Zacks Investment Research lowered BofI from a hold rating to a sell rating in a research report on Friday, October 27th. ValuEngine lowered BofI from a strong-buy rating to a buy rating in a research report on Thursday, August 24th. FBR & Co reaffirmed a buy rating and issued a $36.00 target price (down from $37.00) on shares of BofI in a research report on Thursday, October 26th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $30.00 target price on shares of BofI in a research report on Thursday, October 26th. Finally, Craig Hallum reaffirmed a buy rating and issued a $39.00 target price (up from $35.00) on shares of BofI in a research report on Wednesday, October 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $34.50.

Shares of BofI (NASDAQ:BOFI) traded up $0.38 during trading on Wednesday, reaching $29.10. The company had a trading volume of 935,100 shares, compared to its average volume of 759,586. BofI has a twelve month low of $21.60 and a twelve month high of $32.57. The company has a market cap of $1,828.20, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 1.21 and a beta of 0.39. 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 (NASDAQ:BOFI) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $94.93 million. During the same period in the previous year, the company posted $0.45 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. sell-side analysts predict that BofI will post 2.38 earnings per share for the current fiscal year.

In other BofI news, Director Mosich Nick sold 18,308 shares of BofI 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 completion of the transaction, the director now owns 83,018 shares in the company, valued at approximately $2,303,749.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward James Ratinoff sold 7,540 shares of BofI stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $26.80, for a total value of $202,072.00. Following the transaction, the director now owns 29,600 shares of the company’s stock, valued at approximately $793,280. The disclosure for this sale can be found here. 6.24% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in BOFI. Wasatch Advisors Inc. boosted its stake 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 last quarter. Royce & Associates LP boosted its stake in BofI by 62.0% during the 2nd quarter. Royce & Associates LP now owns 561,000 shares of the financial services provider’s stock valued at $13,307,000 after purchasing an additional 214,800 shares during the last quarter. OxFORD Asset Management LLP acquired a new position in BofI during the 3rd quarter valued at about $5,993,000. Stifel Financial Corp boosted its stake 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 last quarter. Finally, BlackRock Inc. boosted its stake in BofI by 2.1% during the 2nd quarter. BlackRock Inc. now owns 7,591,710 shares of the financial services provider’s stock valued at $180,074,000 after purchasing an additional 152,757 shares during the last quarter. Institutional investors and hedge funds own 84.35% of the company’s stock.

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About BofI

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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