Sterling Capital Management LLC bought a new stake in shares of BofI Holding, Inc. (NASDAQ:BOFI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 30,016 shares of the financial services provider’s stock, valued at approximately $855,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Grandeur Peak Global Advisors LLC grew its holdings in BofI by 15.8% during the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 57,375 shares of the financial services provider’s stock valued at $1,633,000 after purchasing an additional 7,825 shares during the last quarter. Stifel Financial Corp boosted its position in BofI by 9.9% in the 3rd quarter. Stifel Financial Corp now owns 246,488 shares of the financial services provider’s stock valued at $6,996,000 after buying an additional 22,301 shares during the period. OxFORD Asset Management LLP purchased a new stake in BofI in the 3rd quarter valued at about $5,993,000. Schwab Charles Investment Management Inc. lifted its position in shares of BofI by 3.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 261,660 shares of the financial services provider’s stock worth $7,450,000 after purchasing an additional 8,177 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of BofI by 14.6% in the 3rd quarter. Wells Fargo & Company MN now owns 110,585 shares of the financial services provider’s stock worth $3,148,000 after purchasing an additional 14,118 shares during the period. Institutional investors own 84.35% of the company’s stock.
BofI Holding, Inc. (BOFI) traded down $0.18 during trading hours on Friday, hitting $31.57. 697,672 shares of the stock traded hands, compared to its average volume of 654,067. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $2,010.00, a P/E ratio of 15.11, a P/E/G ratio of 1.26 and a beta of 0.39. BofI Holding, Inc. has a 12-month low of $21.60 and a 12-month high of $32.57.
BofI (NASDAQ:BOFI) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.01. BofI had a net margin of 29.36% and a return on equity of 17.00%. The firm had revenue of $93.89 million during the quarter, compared to analysts’ expectations of $94.93 million. During the same period last year, the business earned $0.45 earnings per share. BofI’s revenue was up 11.1% compared to the same quarter last year. analysts expect that BofI Holding, Inc. will post 2.38 earnings per share for the current year.
Several research analysts recently commented on BOFI shares. Zacks Investment Research upgraded shares of BofI from a “hold” rating to a “strong-buy” rating and set a $37.00 price target on the stock in a research note on Friday. BidaskClub upgraded shares of BofI from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $30.00 price objective on shares of BofI in a research note on Thursday, October 26th. Finally, FBR & Co reissued 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. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. BofI has an average rating of “Buy” and an average price target of $35.00.
In other news, Director Edward James Ratinoff sold 7,540 shares of BofI stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $26.80, for a total value of $202,072.00. Following the transaction, the director now directly owns 29,600 shares of the company’s stock, valued at approximately $793,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mosich Nick sold 18,308 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $27.75, for a total transaction of $508,047.00. Following the completion of the transaction, the director now directly owns 83,018 shares in the company, valued at $2,303,749.50. The disclosure for this sale can be found here. Company insiders own 6.24% of the company’s stock.
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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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