BofI (NASDAQ:BOFI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

A number of other research analysts have also issued reports on the stock. Compass Point lowered shares of BofI from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $47.00 to $44.00 in a report on Monday, May 21st. BidaskClub downgraded shares of BofI from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 28th. Stephens set a $46.00 target price on shares of BofI and gave the company a “buy” rating in a research report on Tuesday, April 10th. DA Davidson increased their target price on shares of BofI to $48.00 and gave the company a “buy” rating in a research report on Thursday, April 5th. Finally, Raymond James reissued an “outperform” rating and set a $45.00 target price (up previously from $42.00) on shares of BofI in a research report on Monday, April 2nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. BofI has a consensus rating of “Buy” and a consensus price target of $41.00.

NASDAQ BOFI traded down $0.01 during trading hours on Thursday, reaching $42.35. The company’s stock had a trading volume of 461,000 shares, compared to its average volume of 682,574. The firm has a market cap of $2.76 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 1.76 and a beta of 0.31. BofI has a 52 week low of $22.43 and a 52 week high of $45.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.20 and a quick ratio of 1.19.

BofI (NASDAQ:BOFI) last issued its quarterly earnings data on Thursday, April 26th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.01. The business had revenue of $140.21 million during the quarter, compared to analyst estimates of $134.80 million. BofI had a net margin of 28.25% and a return on equity of 17.85%. During the same quarter last year, the business earned $0.63 EPS. research analysts anticipate that BofI will post 2.51 earnings per share for the current fiscal year.

In other news, Director John Gary Burke sold 57,539 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $41.16, for a total transaction of $2,368,305.24. Following the completion of the sale, the director now owns 1,809,856 shares of the company’s stock, valued at approximately $74,493,672.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.24% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of BofI by 3.7% during the 1st quarter. BlackRock Inc. now owns 8,225,770 shares of the financial services provider’s stock worth $333,391,000 after buying an additional 296,440 shares during the period. Basswood Capital Management L.L.C. grew its position in shares of BofI by 16.3% during 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 buying an additional 228,912 shares during the period. Summit Trail Advisors LLC grew its position in shares of BofI by 3,422.6% during the 1st quarter. Summit Trail Advisors LLC now owns 1,348,388 shares of the financial services provider’s stock worth $1,348,000 after buying an additional 1,310,110 shares during the period. JPMorgan Chase & Co. grew its position in shares of BofI by 7.0% during the 1st quarter. JPMorgan Chase & Co. now owns 702,269 shares of the financial services provider’s stock worth $28,463,000 after buying an additional 46,008 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of BofI by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 524,069 shares of the financial services provider’s stock worth $15,669,000 after buying an additional 3,431 shares during the period. 78.07% of the stock is owned by institutional investors.

BofI Company Profile

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.

Get a free copy of the Zacks research report on BofI (BOFI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for BofI (NASDAQ:BOFI)

Receive News & Ratings for BofI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BofI and related companies with MarketBeat.com's FREE daily email newsletter.