BofI Holding Inc. (BOFI) Stock Price Down 5.4% After Insider Selling
BofI Holding Inc. (NASDAQ:BOFI) shares fell 5.4% on Wednesday following insider selling activity. The stock traded as low as $23.55 and last traded at $23.63, with a volume of 1,118,871 shares trading hands. The stock had previously closed at $24.98.
Specifically, Director Theodore C. Allrich sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $24.25, for a total transaction of $121,250.00. Following the transaction, the director now owns 225,076 shares in the company, valued at $5,458,093. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Theodore C. Allrich sold 10,000 shares of the company’s stock in a transaction dated Tuesday, November 29th. The shares were sold at an average price of $25.05, for a total transaction of $250,500.00. Following the transaction, the director now owns 215,076 shares in the company, valued at approximately $5,387,653.80. The disclosure for this sale can be found here. 6.34% of the stock is currently owned by corporate insiders.
Several brokerages have recently weighed in on BOFI. Zacks Investment Research lowered shares of BofI Holding from a “hold” rating to a “sell” rating in a report on Tuesday. Stephens began coverage on shares of BofI Holding in a research report on Wednesday, November 23rd. They set an “overweight” rating and a $30.00 target price for the company. FBR & Co set a $33.00 target price on shares of BofI Holding and gave the stock a “buy” rating in a research report on Sunday, October 30th. Vetr raised shares of 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. Finally, DA Davidson reissued a “buy” rating on shares of BofI Holding in a research report on Tuesday, August 23rd. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the stock. BofI Holding has a consensus rating of “Buy” and an average price target of $30.48.
The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 12.46 and a beta of 0.08. The stock has a 50 day moving average price of $21.80 and a 200 day moving average price of $19.75.
BofI Holding (NASDAQ:BOFI) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. BofI Holding had a net margin of 30.22% and a return on equity of 18.49%. During the same period last year, the firm posted $1.60 EPS. On average, analysts predict that BofI Holding Inc. will post $2.09 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of BOFI. Ameriprise Financial Inc. boosted its stake in BofI Holding by 51.1% in the third quarter. Ameriprise Financial Inc. now owns 3,257,720 shares of the company’s stock valued at $72,972,000 after buying an additional 1,101,978 shares in the last quarter. Fiera Capital Corp bought a new stake in BofI Holding during the second quarter valued at approximately $8,668,000. Wasatch Advisors Inc. boosted its stake in BofI Holding by 129.7% in the third quarter. Wasatch Advisors Inc. now owns 840,924 shares of the company’s stock valued at $18,837,000 after buying an additional 474,753 shares in the last quarter. Peregrine Capital Management LLC bought a new stake in BofI Holding during the third quarter valued at approximately $10,499,000. Finally, Lombardia Capital Partners LLC bought a new stake in BofI Holding during the third quarter valued at approximately $9,676,000. 88.54% of the stock is owned by hedge funds and other institutional investors.
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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, 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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