BofI Holding, Inc. (BOFI) Receives Consensus Rating of “Buy” from Brokerages

BofI Holding, Inc. (NASDAQ:BOFI) has earned a consensus rating of “Buy” from the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $40.75.

Several brokerages have recently issued reports on BOFI. Zacks Investment Research upgraded BofI from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Tuesday, April 3rd. DA Davidson lifted their price target on BofI to $48.00 and gave the company a “buy” rating in a report on Thursday, April 5th. BidaskClub lowered BofI from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 28th. Raymond James reiterated an “outperform” rating and set a $45.00 price target (up from $42.00) on shares of BofI in a report on Monday, April 2nd. Finally, Compass Point lowered BofI from a “buy” rating to a “neutral” rating and reduced their price target for the company from $47.00 to $44.00 in a report on Monday, May 21st.

Shares of BofI traded down $0.01, hitting $42.35, during trading on Thursday, Marketbeat Ratings reports. 460,562 shares of the stock traded hands, compared to its average volume of 682,570. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 20.66, a P/E/G ratio of 1.76 and a beta of 0.31. 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 has a twelve month low of $22.43 and a twelve month high of $45.18.

BofI (NASDAQ:BOFI) last announced its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate 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 return on equity of 17.85% and a net margin of 28.25%. During the same period in the previous year, the company earned $0.63 EPS. equities research analysts predict that BofI will post 2.51 earnings per share for the current year.

In related news, Director John Gary Burke sold 57,539 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $41.16, for a total value of $2,368,305.24. Following the completion of the sale, the director now directly owns 1,809,856 shares in the company, valued at approximately $74,493,672.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.24% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of BOFI. Swiss National Bank increased its position in BofI by 3.9% in the 4th quarter. Swiss National Bank now owns 97,500 shares of the financial services provider’s stock worth $2,915,000 after buying an additional 3,700 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in BofI by 12.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 22,789 shares of the financial services provider’s stock worth $681,000 after buying an additional 2,439 shares during the period. BlackRock Inc. increased its position in 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 buying an additional 334,469 shares during the period. Pacific Ridge Capital Partners LLC increased its position in BofI by 3.2% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 68,080 shares of the financial services provider’s stock worth $2,036,000 after buying an additional 2,090 shares during the period. Finally, Jefferies Group LLC bought a new position in BofI in the 4th quarter worth approximately $229,000. Hedge funds and other institutional investors own 78.07% of the company’s stock.

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.

Analyst Recommendations for BofI (NASDAQ:BOFI)

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