BofI Holding Inc. (BOFI) Stock Rating Lowered by Zacks Investment Research
BofI Holding Inc. (NASDAQ:BOFI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Bofi Holding is the holding company for Bank of Internet USA, a consumer-focused, nationwide savings bank operating primarily through the Internet from a single location in San Diego, California. They provide a variety of consumer banking services, focusing primarily on gathering retail deposits over the Internet and originating and purchasing multifamily and single family loans for investment. “
BOFI has been the topic of a number of other reports. Vetr cut BofI Holding from a “strong-buy” rating to a “buy” rating and set a $24.90 price objective on the stock. in a research report on Thursday, August 25th. DA Davidson reaffirmed a “buy” rating on shares of BofI Holding in a research report on Tuesday, August 23rd. Finally, FBR & Co reaffirmed a “buy” rating and set a $33.00 price objective on shares of BofI Holding in a research report on Thursday, August 4th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. BofI Holding currently has an average rating of “Buy” and a consensus price target of $31.24.
Shares of BofI Holding (NASDAQ:BOFI) traded up 1.84% during mid-day trading on Tuesday, reaching $22.10. The company’s stock had a trading volume of 854,378 shares. The company’s 50-day moving average price is $21.42 and its 200-day moving average price is $19.24. BofI Holding has a 12-month low of $13.47 and a 12-month high of $35.98. The stock has a market capitalization of $1.40 billion, a P/E ratio of 11.95 and a beta of 0.13.
BofI Holding (NASDAQ:BOFI) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.46 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.46. BofI Holding had a return on equity of 19.02% and a net margin of 31.02%. During the same quarter in the previous year, the company posted $1.54 EPS. On average, equities research analysts forecast that BofI Holding will post $2.14 earnings per share for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Group LTD increased its stake in 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 during the last quarter. Kennedy Capital Management Inc. increased its stake in 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 during the last quarter. Royce & Associates LP purchased a new stake in BofI Holding during the first quarter worth about $363,000. Elk Creek Partners LLC increased its stake in 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 during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in 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 during the last quarter. 94.29% of the stock is currently owned by institutional investors and hedge funds.
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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