DA Davidson Comments on BofI Holding, Inc.’s Q2 2018 Earnings (BOFI)
BofI Holding, Inc. (NASDAQ:BOFI) – DA Davidson cut their Q2 2018 earnings per share (EPS) estimates for BofI in a report issued on Tuesday. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings per share of $0.47 for the quarter, down from their prior estimate of $0.51. DA Davidson also issued estimates for BofI’s Q3 2018 earnings at $0.84 EPS.
BofI (NASDAQ:BOFI) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping 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 company had revenue of $93.89 million for the quarter, compared to analyst estimates of $94.93 million. During the same period in the prior year, the business earned $0.45 earnings per share. BofI’s quarterly revenue was up 11.1% on a year-over-year basis.
Shares of BofI (BOFI) traded up $0.33 during midday trading on Wednesday, reaching $32.54. 1,017,100 shares of the company traded hands, compared to its average volume of 735,864. BofI has a fifty-two week low of $21.60 and a fifty-two week high of $32.78. The firm has a market capitalization of $2,040.00, a price-to-earnings ratio of 15.57, a P/E/G ratio of 1.31 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.
In other BofI news, Director Mosich Nick sold 18,308 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $27.75, for a total value of $508,047.00. Following the completion of the sale, the director now owns 83,018 shares of the company’s stock, valued at $2,303,749.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward James Ratinoff sold 7,540 shares of the company’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 completion of the sale, the director now directly owns 29,600 shares of the company’s stock, valued at approximately $793,280. The disclosure for this sale can be found here. Corporate insiders own 6.24% of the company’s stock.
A number of large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its stake in BofI by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 16,771 shares of the financial services provider’s stock valued at $398,000 after purchasing an additional 80 shares in the last quarter. Wells Fargo & Company MN increased its stake in BofI by 0.3% in the second quarter. Wells Fargo & Company MN now owns 96,467 shares of the financial services provider’s stock valued at $2,288,000 after purchasing an additional 328 shares in the last quarter. Shelton Capital Management increased its stake in BofI by 0.8% in the second quarter. Shelton Capital Management now owns 53,328 shares of the financial services provider’s stock valued at $1,265,000 after purchasing an additional 419 shares in the last quarter. Pinebridge Investments L.P. increased its stake in BofI by 2.1% in the second quarter. Pinebridge Investments L.P. now owns 39,656 shares of the financial services provider’s stock valued at $941,000 after purchasing an additional 807 shares in the last quarter. Finally, Profund Advisors LLC increased its stake in BofI by 8.6% in the second quarter. Profund Advisors LLC now owns 10,903 shares of the financial services provider’s stock valued at $259,000 after purchasing an additional 867 shares in the last quarter. 84.49% of the stock is owned by hedge funds and other institutional investors.
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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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