BofI (NASDAQ:BOFI) Upgraded by BidaskClub to Buy

BidaskClub upgraded shares of BofI (NASDAQ:BOFI) from a hold rating to a buy rating in a research report released on Wednesday, December 20th.

Other equities research analysts have also recently issued reports about the company. FBR & Co reaffirmed a buy rating and set a $36.00 price target (down from $37.00) on shares of BofI in a report on Thursday, October 26th. Keefe, Bruyette & Woods reissued a market perform rating and issued a $31.00 target price on shares of BofI in a research note on Monday, October 9th. ValuEngine cut BofI from a strong-buy rating to a buy rating in a research note on Thursday, August 24th. Zacks Investment Research raised BofI from a sell rating to a hold rating in a research note on Monday, December 4th. Finally, Craig Hallum reaffirmed a buy rating and set a $39.00 price objective (up from $35.00) on shares of BofI in a research note on Wednesday, October 4th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $35.00.

BofI (NASDAQ:BOFI) traded down $0.18 during trading on Wednesday, hitting $31.57. The company had a trading volume of 697,600 shares, compared to its average volume of 654,067. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $2,010.00, a P/E ratio of 15.11, a PEG ratio of 1.26 and a beta of 0.39. BofI has a 1-year low of $21.60 and a 1-year high of $32.57.

BofI (NASDAQ:BOFI) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. BofI had a return on equity of 17.00% and a net margin of 29.36%. The business had revenue of $93.89 million during the quarter, compared to the consensus estimate of $94.93 million. During the same quarter last year, the company earned $0.45 EPS. BofI’s revenue was up 11.1% on a year-over-year basis. sell-side analysts anticipate that BofI will post 2.38 EPS for the current year.

In other news, Director Mosich Nick sold 18,308 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $27.75, for a total value of $508,047.00. Following the sale, the director now directly owns 83,018 shares in the company, valued at $2,303,749.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Edward James Ratinoff sold 7,540 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $26.80, for a total value of $202,072.00. Following the completion of the sale, the director now owns 29,600 shares in the company, valued at $793,280. The disclosure for this sale can be found here. Insiders own 6.24% of the company’s stock.

Several large investors have recently added to or reduced their stakes in BOFI. Victory Capital Management Inc. increased its position in shares of BofI by 69.9% in the third quarter. Victory Capital Management Inc. now owns 5,746 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 2,365 shares during the last quarter. Van Hulzen Asset Management LLC acquired a new stake in shares of BofI in the third quarter valued at about $211,000. Stoneridge Investment Partners LLC acquired a new stake in shares of BofI in the third quarter valued at about $214,000. Jaffetilchin Investment Partners LLC acquired a new stake in shares of BofI in the third quarter valued at about $228,000. Finally, Amalgamated Bank acquired a new stake in shares of BofI in the third quarter valued at about $231,000. 84.35% of the stock is currently owned by institutional investors and hedge funds.

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About BofI

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, low-cost distribution channels and affinity partners. The Bank has deposit and loan customers, 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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