Brokerages Anticipate BofI Holding, Inc. (BOFI) Will Announce Earnings of $0.52 Per Share
Wall Street brokerages expect BofI Holding, Inc. (NASDAQ:BOFI) to announce earnings of $0.52 per share for the current quarter, according to Zacks. Seven analysts have made estimates for BofI’s earnings. The lowest EPS estimate is $0.51 and the highest is $0.53. BofI reported earnings of $0.50 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 4%. The firm is expected to report its next earnings report on Monday, January 29th.
On average, analysts expect that BofI will report full-year earnings of $2.35 per share for the current financial year, with EPS estimates ranging from $2.30 to $2.42. For the next financial year, analysts expect that the company will post earnings of $2.71 per share, with EPS estimates ranging from $2.63 to $2.75. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover BofI.
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 Thomson Reuters’ consensus estimate of $0.49 by $0.01. The business had revenue of $93.89 million during the quarter, compared to the consensus estimate of $94.93 million. BofI had a return on equity of 17.00% and a net margin of 29.36%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 EPS.
BOFI has been the subject of several recent research reports. Zacks Investment Research downgraded BofI from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. BidaskClub upgraded BofI from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. ValuEngine downgraded BofI from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. FBR & Co reiterated a “buy” rating and set a $37.00 target price on shares of BofI in a research report on Friday, September 29th. Finally, Craig Hallum reiterated 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. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $34.50.
In other 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 transaction of $202,072.00. Following the completion of the sale, the director now directly owns 29,600 shares in the company, valued at approximately $793,280. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.24% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in shares of BofI by 2.1% during the 2nd quarter. BlackRock Inc. now owns 7,591,710 shares of the financial services provider’s stock worth $180,074,000 after buying an additional 152,757 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of BofI by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,550,221 shares of the financial services provider’s stock worth $131,652,000 after buying an additional 122,322 shares during the last quarter. State Street Corp lifted its position in shares of BofI by 4.3% during the 2nd quarter. State Street Corp now owns 1,439,590 shares of the financial services provider’s stock worth $34,147,000 after buying an additional 58,774 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of BofI by 2.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 993,233 shares of the financial services provider’s stock worth $23,560,000 after buying an additional 24,314 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in BofI by 3.4% in the 2nd quarter. Northern Trust Corp now owns 823,146 shares of the financial services provider’s stock worth $19,525,000 after purchasing an additional 27,080 shares in the last quarter. Institutional investors and hedge funds own 85.55% of the company’s stock.
BofI (NASDAQ:BOFI) traded up $0.05 on Friday, reaching $25.73. The company had a trading volume of 196,403 shares, compared to its average volume of 507,168. The company has a market cap of $1,634.69, a P/E ratio of 12.11, a PEG ratio of 1.08 and a beta of 0.40. 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.
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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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