BofI Holding (BOFI) Receives Average Rating of “Buy” from Analysts

Shares of BofI Holding (NASDAQ:BOFI) have been given an average recommendation of “Buy” by the eleven analysts that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $40.29.

Several equities analysts have weighed in on the stock. Stephens reiterated a “buy” rating and issued a $39.00 target price on shares of BofI in a report on Thursday, February 1st. Sandler O’Neill reiterated a “buy” rating and issued a $38.00 target price on shares of BofI in a report on Wednesday, January 31st. Zacks Investment Research downgraded shares of BofI from a “buy” rating to a “hold” rating in a research note on Wednesday, April 4th. DA Davidson boosted their price target on shares of BofI to $48.00 and gave the company a “buy” rating in a research note on Thursday, April 5th. Finally, BidaskClub raised shares of BofI from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 3rd.

In related news, Director James John Court sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $40.33, for a total transaction of $362,970.00. Following the sale, the director now directly owns 28,856 shares of the company’s stock, valued at approximately $1,163,762.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.24% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Grandeur Peak Global Advisors LLC increased its position in shares of BofI by 24.2% in the 4th quarter. Grandeur Peak Global Advisors LLC now owns 71,250 shares of the financial services provider’s stock valued at $2,130,000 after purchasing an additional 13,875 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of BofI in the 4th quarter valued at $842,000. Earnest Partners LLC acquired a new position in shares of BofI in the 4th quarter valued at $108,000. Two Sigma Advisers LP boosted its holdings in shares of BofI by 18.9% in the 4th quarter. Two Sigma Advisers LP now owns 90,669 shares of the financial services provider’s stock valued at $2,711,000 after buying an additional 14,400 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of BofI by 98.8% in the 4th quarter. Deutsche Bank AG now owns 150,034 shares of the financial services provider’s stock valued at $4,484,000 after buying an additional 74,547 shares in the last quarter. 84.56% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:BOFI traded down $0.13 on Wednesday, hitting $42.73. The stock had a trading volume of 485,181 shares, compared to its average volume of 715,233. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.15 and a quick ratio of 1.14. The firm has a market capitalization of $2,611.23, a price-to-earnings ratio of 20.84, a PEG ratio of 1.66 and a beta of 0.36. BofI has a 1-year low of $21.60 and a 1-year high of $43.20.

BofI (NASDAQ:BOFI) last posted its earnings results on Tuesday, January 30th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.08. The company had revenue of $101.31 million for the quarter, compared to analyst estimates of $100.29 million. BofI had a net margin of 28.37% and a return on equity of 17.27%. During the same period in the previous year, the business posted $0.50 EPS. equities analysts anticipate that BofI will post 2.52 earnings per share for the current fiscal year.

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About BofI

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.

Analyst Recommendations for BofI (NASDAQ:BOFI)

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