BofI Holding Inc. (BOFI) Stock Rating Upgraded by Zacks Investment Research
BofI Holding Inc. (NASDAQ:BOFI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $25.00 target price on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 13.38% from the company’s previous close.
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 brokerages have also recently issued reports on BOFI. Vetr cut BofI Holding from a “strong-buy” rating to a “buy” rating and set a $24.90 price objective on the stock. in a research note on Thursday, August 25th. DA Davidson restated a “buy” rating on shares of BofI Holding in a research note on Tuesday, August 23rd. Finally, FBR & Co restated a “buy” rating and issued a $33.00 price objective on shares of BofI Holding in a research note on Thursday, August 4th. Six investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $31.24.
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Shares of BofI Holding (NASDAQ:BOFI) traded down 0.63% on Tuesday, reaching $22.05. 531,971 shares of the company were exchanged. BofI Holding has a 12-month low of $13.47 and a 12-month high of $35.98. The firm has a market capitalization of $1.40 billion, a PE ratio of 11.92 and a beta of 0.22. The stock’s 50-day moving average is $20.05 and its 200 day moving average is $19.00.
BofI Holding (NASDAQ:BOFI) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.46. BofI Holding had a return on equity of 19.02% and a net margin of 31.02%. During the same period in the previous year, the company posted $1.54 EPS. On average, analysts forecast that BofI Holding will post $2.14 EPS for the current year.
Several large investors have recently made changes to their positions in BOFI. PineBridge Investments L.P. boosted its stake in shares of BofI Holding by 3.8% in the second quarter. PineBridge Investments L.P. now owns 7,277 shares of the company’s stock valued at $128,000 after buying an additional 269 shares in the last quarter. Endurance Wealth Management Inc. boosted its stake in shares of BofI Holding by 32.8% in the second quarter. Endurance Wealth Management Inc. now owns 7,284 shares of the company’s stock valued at $129,000 after buying an additional 1,800 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of BofI Holding by 21.1% in the second quarter. Teacher Retirement System of Texas now owns 7,895 shares of the company’s stock valued at $140,000 after buying an additional 1,373 shares in the last quarter. BlackRock Inc. boosted its stake in shares of BofI Holding by 74.6% in the second quarter. BlackRock Inc. now owns 8,084 shares of the company’s stock valued at $144,000 after buying an additional 3,455 shares in the last quarter. Finally, Mount Lucas Management LP boosted its stake in shares of BofI Holding by 10.3% in the first quarter. Mount Lucas Management LP now owns 8,161 shares of the company’s stock valued at $174,000 after buying an additional 763 shares in the last quarter. Hedge funds and other institutional investors own 94.63% of the company’s stock.
BofI Holding Company Profile
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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