BofI Holding, Inc. (BOFI) Expected to Post Earnings of $0.51 Per Share
Brokerages forecast that BofI Holding, Inc. (NASDAQ:BOFI) will report earnings of $0.51 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for BofI Holding’s earnings. The highest EPS estimate is $0.53 and the lowest is $0.49. BofI Holding posted earnings per share of $0.46 in the same quarter last year, which suggests a positive year over year growth rate of 10.9%. The business is expected to announce its next earnings results on Tuesday, August 1st.
According to Zacks, analysts expect that BofI Holding will report full year earnings of $2.09 per share for the current financial year, with EPS estimates ranging from $2.07 to $2.10. For the next year, analysts anticipate that the firm will post earnings of $2.41 per share, with EPS estimates ranging from $2.40 to $2.43. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow BofI Holding.
BofI Holding (NASDAQ:BOFI) last posted its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. The company had revenue of $111.73 million during the quarter, compared to analyst estimates of $109.89 million. BofI Holding had a net margin of 29.49% and a return on equity of 17.91%. During the same quarter last year, the business posted $0.56 earnings per share.
BOFI has been the subject of several analyst reports. FBR & Co restated an “outperform” rating and issued a $35.00 target price on shares of BofI Holding in a research report on Monday, April 3rd. DA Davidson reiterated a “buy” rating and set a $34.00 price objective on shares of BofI Holding in a research report on Tuesday, April 4th. Zacks Investment Research upgraded shares of BofI Holding from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, April 18th. Finally, ValuEngine cut shares of BofI Holding from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $30.18.
BofI Holding (NASDAQ BOFI) traded up 1.34% during mid-day trading on Monday, hitting $23.45. 253,286 shares of the stock traded hands. The firm’s 50-day moving average price is $23.08 and its 200-day moving average price is $26.62. BofI Holding has a 52 week low of $15.29 and a 52 week high of $32.57. The firm has a market cap of $1.49 billion, a P/E ratio of 11.55 and a beta of 0.40.
A number of institutional investors have recently added to or reduced their stakes in BOFI. BlackRock Inc. boosted its position in BofI Holding by 115,357.9% in the first quarter. BlackRock Inc. now owns 7,438,953 shares of the financial services provider’s stock worth $194,380,000 after buying an additional 7,432,510 shares in the last quarter. Vanguard Group Inc. boosted its position in BofI Holding by 31.2% in the first quarter. Vanguard Group Inc. now owns 5,427,899 shares of the financial services provider’s stock worth $141,831,000 after buying an additional 1,290,172 shares in the last quarter. Russell Investments Group Ltd. bought a new position in BofI Holding during the fourth quarter worth about $9,594,000. Credit Agricole S A bought a new position in BofI Holding during the fourth quarter worth about $6,852,000. Finally, Norges Bank bought a new position in BofI Holding during the fourth quarter worth about $4,892,000. Institutional investors and hedge funds own 88.44% 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, 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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