Zacks: Analysts Expect BofI Holding, Inc. (BOFI) Will Post Earnings of $0.64 Per Share

Wall Street brokerages expect BofI Holding, Inc. (NASDAQ:BOFI) to announce earnings of $0.64 per share for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have issued estimates for BofI’s earnings, with estimates ranging from $0.61 to $0.68. BofI reported earnings per share of $0.50 during the same quarter last year, which would suggest a positive year-over-year growth rate of 28%. The business is scheduled to issue its next earnings report on Wednesday, October 24th.

On average, analysts expect that BofI will report full year earnings of $3.10 per share for the current year, with EPS estimates ranging from $3.05 to $3.16. For the next year, analysts anticipate that the company will report earnings of $3.53 per share, with EPS estimates ranging from $3.48 to $3.60. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for BofI.

BofI (NASDAQ:BOFI) last issued its quarterly earnings data on Tuesday, August 7th. The financial services provider reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.03). BofI had a return on equity of 17.79% and a net margin of 27.87%. The company had revenue of $104.03 million during the quarter, compared to analysts’ expectations of $107.81 million.

BOFI has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of BofI from a “sell” rating to a “hold” rating in a report on Wednesday, June 27th. BidaskClub lowered shares of BofI from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. Compass Point lowered shares of BofI from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $47.00 to $44.00 in a report on Monday, May 21st. B. Riley raised their price objective on shares of BofI from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, June 19th. Finally, Stephens restated a “buy” rating and issued a $45.00 price objective on shares of BofI in a report on Thursday, August 9th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $41.50.

In other BofI 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 transaction, the director now owns 1,809,856 shares of the company’s stock, valued at $74,493,672.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.24% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. WINTON GROUP Ltd increased its stake in shares of BofI by 52.8% during the second quarter. WINTON GROUP Ltd now owns 7,770 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 2,686 shares in the last quarter. MetLife Investment Advisors LLC increased its stake in shares of BofI by 5.8% during the second quarter. MetLife Investment Advisors LLC now owns 27,157 shares of the financial services provider’s stock valued at $1,111,000 after purchasing an additional 1,498 shares in the last quarter. First Republic Investment Management Inc. increased its stake in shares of BofI by 8.9% during the second quarter. First Republic Investment Management Inc. now owns 25,515 shares of the financial services provider’s stock valued at $1,044,000 after purchasing an additional 2,091 shares in the last quarter. Epoch Investment Partners Inc. bought a new position in shares of BofI during the second quarter valued at approximately $19,319,000. Finally, Laurion Capital Management LP bought a new position in shares of BofI during the second quarter valued at approximately $524,000. 75.66% of the stock is owned by institutional investors and hedge funds.

BOFI traded down $0.36 on Monday, hitting $37.51. The company had a trading volume of 474,700 shares, compared to its average volume of 651,481. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.13 and a quick ratio of 1.13. BofI has a 52-week low of $24.20 and a 52-week high of $45.18. The firm has a market capitalization of $2.38 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.24 and a beta of 0.12.

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.

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