BofI Holding Inc. (BOFI) Lowered to “Sell” at Zacks Investment Research
BofI Holding Inc. (NASDAQ:BOFI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “
Other equities research analysts have also issued reports about the company. FBR & Co set a $33.00 price target on BofI Holding and gave the company a “buy” rating in a research report on Sunday, October 30th. Stephens began coverage on BofI Holding in a research report on Wednesday, November 23rd. They set an “overweight” rating and a $30.00 price target on the stock. Vetr raised BofI Holding from a “buy” rating to a “strong-buy” rating and set a $24.90 price target on the stock in a research report on Wednesday, August 31st. Finally, DA Davidson reissued a “buy” rating on shares of BofI Holding in a research report on Tuesday, August 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the company. BofI Holding presently has a consensus rating of “Buy” and a consensus price target of $30.48.
Shares of BofI Holding (NASDAQ:BOFI) traded up 1.26% during midday trading on Tuesday, hitting $24.98. 1,033,213 shares of the company’s stock traded hands. BofI Holding has a 52 week low of $13.47 and a 52 week high of $25.38. The company has a 50 day moving average of $21.80 and a 200 day moving average of $19.75. The stock has a market cap of $1.58 billion, a P/E ratio of 13.17 and a beta of 0.08.
BofI Holding (NASDAQ:BOFI) last posted its quarterly earnings results on Thursday, October 27th. The company reported $0.45 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. BofI Holding had a return on equity of 18.49% and a net margin of 30.22%. During the same quarter last year, the company posted $1.60 EPS. On average, equities analysts forecast that BofI Holding will post $2.09 EPS for the current fiscal year.
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In other BofI Holding news, Director Theodore C. Allrich sold 5,000 shares of the stock in a transaction on Tuesday, November 22nd. The stock was sold at an average price of $24.25, for a total value of $121,250.00. Following the sale, the director now directly owns 225,076 shares of the company’s stock, valued at $5,458,093. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 6.34% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new stake in shares of BofI Holding during the third quarter valued at $228,000. Price T Rowe Associates Inc. MD raised its stake in shares of BofI Holding by 31.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 36,587 shares of the company’s stock valued at $820,000 after buying an additional 8,800 shares in the last quarter. LPL Financial LLC raised its stake in shares of BofI Holding by 44.9% in the third quarter. LPL Financial LLC now owns 34,311 shares of the company’s stock valued at $758,000 after buying an additional 10,640 shares in the last quarter. Grandeur Peak Global Advisors LLC raised its stake in shares of BofI Holding by 113.2% in the third quarter. Grandeur Peak Global Advisors LLC now owns 31,400 shares of the company’s stock valued at $703,000 after buying an additional 16,675 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its stake in shares of BofI Holding by 145.2% in the third quarter. Panagora Asset Management Inc. now owns 170,707 shares of the company’s stock valued at $3,824,000 after buying an additional 101,100 shares in the last quarter. 88.54% of the stock is currently owned by hedge funds and other institutional investors.
BofI Holding 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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