BofI Holding Inc. (BOFI) Upgraded to Buy at 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 note issued to investors on Tuesday. The firm presently has a $25.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 13.38% from the company’s current price.
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. “
Several other equities analysts have also issued reports on BOFI. FBR & Co reaffirmed a “buy” rating and issued a $33.00 price target on shares of BofI Holding in a research report on Thursday, August 4th. Vetr lowered BofI Holding from a “strong-buy” rating to a “buy” rating and set a $19.48 price target for the company. in a research report on Thursday, June 30th. Finally, DA Davidson reaffirmed a “buy” rating on shares of BofI Holding in a research report on Tuesday, August 23rd. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $31.24.
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Shares of BofI Holding (NASDAQ:BOFI) traded down 0.63% during midday trading on Tuesday, hitting $22.05. 531,971 shares of the stock were exchanged. The stock has a market cap of $1.40 billion, a P/E ratio of 11.92 and a beta of 0.22. The firm’s 50 day moving average price is $20.05 and its 200-day moving average price is $19.00. BofI Holding has a 52-week low of $13.47 and a 52-week high of $35.98.
BofI Holding (NASDAQ:BOFI) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported $0.46 earnings per share (EPS) for the quarter, hitting the 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 last year, the firm posted $1.54 earnings per share. On average, equities research analysts expect that BofI Holding will post $2.14 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors increased its stake in BofI Holding by 1.6% in the second quarter. BlackRock Fund Advisors now owns 3,693,731 shares of the company’s stock valued at $65,416,000 after buying an additional 57,000 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in BofI Holding by 4.4% in the second quarter. TimesSquare Capital Management LLC now owns 2,625,095 shares of the company’s stock valued at $46,490,000 after buying an additional 111,500 shares during the last quarter. Ameriprise Financial Inc. increased its stake in BofI Holding by 5.7% in the second quarter. Ameriprise Financial Inc. now owns 2,155,742 shares of the company’s stock valued at $38,181,000 after buying an additional 116,683 shares during the last quarter. Davis Capital Partners LLC increased its stake in BofI Holding by 6.4% in the second quarter. Davis Capital Partners LLC now owns 1,670,000 shares of the company’s stock valued at $29,575,000 after buying an additional 100,000 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in BofI Holding by 0.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,458,842 shares of the company’s stock valued at $25,836,000 after buying an additional 8,067 shares during the last quarter. Institutional investors own 94.63% 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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