BofI Holding Inc. (NASDAQ:BOFI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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 analysts also recently commented on BOFI. FBR & Co restated a “buy” rating and issued a $33.00 target price on shares of BofI Holding in a research note on Thursday, August 4th. Vetr downgraded BofI Holding from a “strong-buy” rating to a “buy” rating and set a $19.48 target price on the stock. in a research note on Thursday, June 30th. Finally, DA Davidson restated a “buy” rating on shares of BofI Holding in a research note on Tuesday, August 23rd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $31.24.
BofI Holding (NASDAQ:BOFI) traded up 1.84% during mid-day trading on Tuesday, reaching $22.10. The company’s stock had a trading volume of 854,378 shares. BofI Holding has a 12-month low of $13.47 and a 12-month high of $35.98. The company has a market cap of $1.40 billion, a PE ratio of 11.95 and a beta of 0.13. The firm’s 50 day moving average is $21.42 and its 200-day moving average is $19.24.
BofI Holding (NASDAQ:BOFI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.46 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.46. BofI Holding had a return on equity of 19.02% and a net margin of 31.02%. During the same period last year, the firm earned $1.54 EPS. Equities analysts anticipate that BofI Holding will post $2.14 earnings per share for the current fiscal year.
A number of institutional investors have recently modified their holdings of BOFI. BlackRock Group LTD increased its position in shares of BofI Holding by 13.5% in the first quarter. BlackRock Group LTD now owns 291,987 shares of the company’s stock worth $6,232,000 after buying an additional 34,694 shares in the last quarter. Kennedy Capital Management Inc. increased its position in shares of BofI Holding by 49.1% in the first quarter. Kennedy Capital Management Inc. now owns 149,143 shares of the company’s stock worth $3,183,000 after buying an additional 49,143 shares in the last quarter. Royce & Associates LP acquired a new position in shares of BofI Holding during the first quarter worth about $363,000. Elk Creek Partners LLC increased its position in shares of BofI Holding by 25.9% in the second quarter. Elk Creek Partners LLC now owns 537,552 shares of the company’s stock worth $9,520,000 after buying an additional 110,586 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its position in shares of BofI Holding by 4.2% in the first quarter. Nuveen Asset Management LLC now owns 807,367 shares of the company’s stock worth $17,230,000 after buying an additional 32,808 shares in the last quarter. Institutional investors own 94.29% of the company’s stock.
About BofI Holding
BofI Holding, Inc (BofI) is the holding company for BofI Federal Bank (the Bank). The Bank is a diversified financial services company. The Bank provides consumer and business banking products through its branchless, distribution channels and affinity partners. The Bank has deposit and loan customers across the nation, including consumer and business checking, savings and time deposit accounts and financing for single family and multifamily residential properties, small-to-medium size businesses in target sectors, and selected specialty finance receivables.
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