Fred Alger Management Inc. Has $26.81 Million Stake in BofI Holding, Inc. (BOFI)
Fred Alger Management Inc. trimmed its stake in BofI Holding, Inc. (NASDAQ:BOFI) by 7.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,130,205 shares of the financial services provider’s stock after selling 93,737 shares during the period. Fred Alger Management Inc. owned approximately 1.78% of BofI Holding worth $26,808,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of BOFI. Ameritas Investment Partners Inc. bought a new stake in shares of BofI Holding in the 1st quarter valued at approximately $135,000. Endurance Wealth Management Inc. lifted its stake in shares of BofI Holding by 11.6% in the 2nd quarter. Endurance Wealth Management Inc. now owns 7,463 shares of the financial services provider’s stock valued at $177,000 after purchasing an additional 775 shares during the last quarter. Tudor Investment Corp ET AL bought a new stake in shares of BofI Holding in the 1st quarter valued at approximately $230,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of BofI Holding in the 1st quarter valued at approximately $244,000. Finally, Karp Capital Management Corp bought a new stake in shares of BofI Holding in the 1st quarter valued at approximately $254,000. 88.15% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on BOFI shares. DA Davidson reissued a “buy” rating and set a $33.00 price target on shares of BofI Holding in a research note on Monday, June 12th. BidaskClub raised BofI Holding from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. Zacks Investment Research lowered BofI Holding from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. ValuEngine lowered BofI Holding from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. Finally, FBR & Co reissued a “buy” rating and set a $37.00 price target on shares of BofI Holding in a research note on Friday, September 29th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. BofI Holding presently has an average rating of “Buy” and an average price target of $34.75.
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Shares of BofI Holding, Inc. (NASDAQ:BOFI) traded up 0.32% during midday trading on Thursday, hitting $28.19. The company had a trading volume of 55,993 shares. The company has a market capitalization of $1.79 billion, a PE ratio of 13.62 and a beta of 0.39. The company has a 50-day moving average of $26.67 and a 200-day moving average of $25.14. BofI Holding, Inc. has a 12 month low of $17.95 and a 12 month high of $32.57.
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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