Zacks Investment Research lowered shares of BofI (NASDAQ:BOFI) from a buy rating to a hold rating in a research note published on Tuesday morning.

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 subject of a number of other reports. Keefe, Bruyette & Woods reiterated a hold rating and issued a $30.00 price target on shares of BofI in a research report on Thursday, October 26th. BidaskClub upgraded shares of BofI from a hold rating to a buy rating in a research report on Saturday, December 2nd. FBR & Co reiterated a buy rating and issued a $36.00 price target (down from $37.00) on shares of BofI in a research report on Thursday, October 26th. Sandler O’Neill reiterated a buy rating and issued a $38.00 price target on shares of BofI in a research report on Wednesday, January 31st. Finally, Stephens reiterated a buy rating and issued a $39.00 price target on shares of BofI in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $36.00.

Shares of BofI (NASDAQ BOFI) opened at $35.54 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.15 and a quick ratio of 1.14. BofI has a 1 year low of $21.60 and a 1 year high of $38.51. The firm has a market cap of $2,194.98, a P/E ratio of 15.75, a PEG ratio of 1.42 and a beta of 0.45.

BofI (NASDAQ:BOFI) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. BofI had a net margin of 28.37% and a return on equity of 17.27%. The company had revenue of $101.31 million during the quarter, compared to the consensus estimate of $100.29 million. During the same period in the previous year, the business earned $0.50 earnings per share. analysts predict that BofI will post 2.48 EPS for the current year.

In related news, Director Mosich Nick sold 18,308 shares of BofI stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $27.75, for a total value of $508,047.00. Following the transaction, the director now directly owns 83,018 shares of the company’s stock, valued at $2,303,749.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.24% of the company’s stock.

A number of large investors have recently made changes to their positions in BOFI. Victory Capital Management Inc. increased its stake in BofI by 69.9% in the third quarter. Victory Capital Management Inc. now owns 5,746 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 2,365 shares during the last quarter. Miles Capital Inc. bought a new position in BofI in the fourth quarter valued at approximately $207,000. Van Hulzen Asset Management LLC bought a new position in BofI in the third quarter valued at approximately $211,000. Stoneridge Investment Partners LLC bought a new position in BofI in the third quarter valued at approximately $214,000. Finally, Jaffetilchin Investment Partners LLC bought a new position in BofI in the third quarter valued at approximately $228,000. 84.15% of the stock is currently owned by institutional investors and hedge funds.

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BofI 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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Analyst Recommendations for BofI (NASDAQ:BOFI)

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