BofI Holding Inc. (BOFI) Sees Large Drop in Short Interest
BofI Holding Inc. (NASDAQ:BOFI) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 22,562,288 shares, a decrease of 3.5% from the August 31st total of 23,375,947 shares. Based on an average trading volume of 643,156 shares, the days-to-cover ratio is presently 35.1 days. Currently, 40.5% of the company’s stock are short sold.
Large investors have recently modified their holdings of the company. BlackRock Group LTD boosted its stake in shares of BofI Holding by 13.5% in the first quarter. BlackRock Group LTD now owns 291,987 shares of the company’s stock worth $6,232,000 after buying an additional 34,694 shares in the last quarter. Kennedy Capital Management Inc. boosted its stake in shares of BofI Holding by 49.1% in the first quarter. Kennedy Capital Management Inc. now owns 149,143 shares of the company’s stock worth $3,183,000 after buying an additional 49,143 shares in the last quarter. Royce & Associates LP acquired a new stake in shares of BofI Holding during the first quarter worth about $363,000. Elk Creek Partners LLC boosted its stake in shares of BofI Holding by 25.9% in the second quarter. Elk Creek Partners LLC now owns 537,552 shares of the company’s stock worth $9,520,000 after buying an additional 110,586 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of BofI Holding by 4.2% in the first quarter. Nuveen Asset Management LLC now owns 807,367 shares of the company’s stock worth $17,230,000 after buying an additional 32,808 shares in the last quarter. Hedge funds and other institutional investors own 94.29% of the company’s stock.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised BofI Holding from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, September 20th. Vetr raised BofI Holding from a “buy” rating to a “strong-buy” rating and set a $24.90 target price for the company in a research report on Wednesday, August 31st. DA Davidson reissued a “buy” rating on shares of BofI Holding in a research report on Tuesday, August 23rd. Finally, FBR & Co reissued a “buy” rating and issued a $33.00 target price on shares of BofI Holding in a research report on Thursday, August 4th. Six equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $31.24.
Shares of BofI Holding (NASDAQ:BOFI) opened at 22.20 on Friday. BofI Holding has a 1-year low of $13.47 and a 1-year high of $35.98. The firm’s 50-day moving average price is $21.19 and its 200 day moving average price is $19.20. The stock has a market capitalization of $1.40 billion, a P/E ratio of 12.00 and a beta of 0.22.
BofI Holding (NASDAQ:BOFI) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the Zacks’ 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 in the previous year, the firm earned $1.54 earnings per share. Analysts expect that BofI Holding will post $2.14 EPS for the current fiscal year.
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.
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