BofI (BOFI) Upgraded by BidaskClub to “Buy”
BidaskClub upgraded shares of BofI (NASDAQ:BOFI) from a hold rating to a buy rating in a report published on Saturday.
A number of other research firms have also issued reports on BOFI. FBR & Co restated a buy rating and set a $37.00 price target on shares of BofI in a report on Friday, September 29th. Craig Hallum restated a buy rating and set a $39.00 price target (up previously from $35.00) on shares of BofI in a report on Wednesday, October 4th. Keefe, Bruyette & Woods restated a market perform rating and set a $31.00 price target on shares of BofI in a report on Monday, October 9th. Zacks Investment Research lowered shares of BofI from a hold rating to a sell rating in a report on Friday, October 27th. Finally, ValuEngine lowered shares of BofI from a strong-buy rating to a buy rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $34.50.
BofI (BOFI) traded up $0.14 during mid-day trading on Friday, hitting $27.78. 710,639 shares of the stock were exchanged, compared to its average volume of 489,947. BofI has a twelve month low of $21.60 and a twelve month high of $32.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market capitalization of $1,768.36, a price-to-earnings ratio of 13.10, a P/E/G ratio of 1.18 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 net margin of 29.36% and a return on equity of 17.00%. The business had revenue of $93.89 million for the quarter, compared to analyst estimates of $94.93 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s revenue was up 11.1% compared to the same quarter last year. equities research analysts predict that BofI will post 2.35 EPS for the current fiscal year.
In related news, Director Edward James Ratinoff sold 7,540 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $26.80, for a total transaction of $202,072.00. Following the transaction, the director now directly owns 29,600 shares of the company’s stock, valued at $793,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.24% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in BOFI. Rice Hall James & Associates LLC grew its position in BofI by 55.8% during the second quarter. Rice Hall James & Associates LLC now owns 809,652 shares of the financial services provider’s stock valued at $19,205,000 after purchasing an additional 290,127 shares in the last quarter. Wasatch Advisors Inc. grew its position in BofI by 69.4% during the second 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 in the last quarter. Royce & Associates LP grew its position in BofI by 62.0% during the second 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 in the last quarter. OxFORD Asset Management LLP purchased a new position in BofI during the third quarter valued at approximately $5,993,000. Finally, Stifel Financial Corp grew its position in BofI by 272.1% during the second 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 in the last quarter. 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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