Elkfork Partners LLC Decreases Stake in BofI Holding, Inc. (BOFI)
Elkfork Partners LLC decreased its position in BofI Holding, Inc. (NASDAQ:BOFI) by 72.8% in the 4th quarter, HoldingsChannel reports. The fund owned 13,968 shares of the financial services provider’s stock after selling 37,358 shares during the period. Elkfork Partners LLC’s holdings in BofI were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of BofI by 4.4% in the 4th quarter. BlackRock Inc. now owns 7,929,330 shares of the financial services provider’s stock worth $237,087,000 after acquiring an additional 334,469 shares in the last quarter. Basswood Capital Management L.L.C. grew its position in shares of BofI by 16.3% in the 4th quarter. Basswood Capital Management L.L.C. now owns 1,629,787 shares of the financial services provider’s stock worth $48,731,000 after acquiring an additional 228,912 shares in the last quarter. Rice Hall James & Associates LLC grew its position in shares of BofI by 12.8% in the 4th quarter. Rice Hall James & Associates LLC now owns 886,472 shares of the financial services provider’s stock worth $26,506,000 after acquiring an additional 100,769 shares in the last quarter. Mesirow Financial Investment Management Equity Management acquired a new position in shares of BofI in the 4th quarter worth approximately $21,991,000. Finally, Wasatch Advisors Inc. grew its position in shares of BofI by 2.4% in the 3rd quarter. Wasatch Advisors Inc. now owns 648,285 shares of the financial services provider’s stock worth $18,457,000 after acquiring an additional 15,338 shares in the last quarter. Institutional investors own 84.96% of the company’s stock.
BofI stock opened at $42.15 on Thursday. BofI Holding, Inc. has a 12-month low of $21.60 and a 12-month high of $42.49. The stock has a market capitalization of $2,621.23, a P/E ratio of 18.81, a P/E/G ratio of 1.66 and a beta of 0.43. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.14 and a current ratio of 1.15.
A number of research analysts recently issued reports on BOFI shares. Zacks Investment Research lowered BofI from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 30th. Stephens restated a “buy” rating and set a $39.00 price objective on shares of BofI in a research report on Thursday, February 1st. ValuEngine upgraded BofI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. Sandler O’Neill restated a “buy” rating and set a $38.00 price objective on shares of BofI in a research report on Wednesday, January 31st. Finally, BidaskClub upgraded BofI from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $36.00.
In other BofI news, Director James John Court sold 9,000 shares of BofI stock in a transaction on Friday, March 9th. The stock was sold at an average price of $40.33, for a total transaction of $362,970.00. Following the sale, the director now owns 28,856 shares of the company’s stock, valued at approximately $1,163,762.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.24% of the stock is owned by insiders.
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BofI Holding, Inc operates as the holding company for BofI Federal Bank that provides consumer and business banking products in the United States. The company offers deposits products, including consumer and business checking, demand, savings, and time deposit accounts. It also provides single family and multifamily mortgage secured lending products; commercial real estate secured and commercial lending products; specialty finance factoring products; and consumer lending products consisting of prime loans to purchase new and used automobiles and recreational vehicles, as well as deposit-related overdraft lines of credit.
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