BofI Holding, Inc. (BOFI) Expected to Post Quarterly Sales of $94.19 Million
Equities analysts forecast that BofI Holding, Inc. (NASDAQ:BOFI) will announce sales of $94.19 million for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for BofI Holding’s earnings, with estimates ranging from $90.90 million to $96.50 million. BofI Holding posted sales of $86.17 million during the same quarter last year, which would suggest a positive year over year growth rate of 9.3%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, August 1st.
On average, analysts expect that BofI Holding will report full-year sales of $94.19 million for the current fiscal year, with estimates ranging from $380.20 million to $385.80 million. For the next financial year, analysts anticipate that the business will report sales of $438.31 million per share, with estimates ranging from $431.10 million to $443.44 million. Zacks’ sales averages are a mean average based on a survey of research analysts that that provide coverage for BofI Holding.
BofI Holding (NASDAQ:BOFI) last issued its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.63 earnings per share for the quarter, hitting the consensus estimate of $0.63. The company had revenue of $111.73 million during the quarter, compared to analysts’ expectations of $109.89 million. BofI Holding had a net margin of 29.49% and a return on equity of 17.91%. During the same period last year, the business earned $0.56 EPS.
A number of research analysts have issued reports on the company. FBR & Co restated an “outperform” rating and issued a $35.00 price objective on shares of BofI Holding in a research note on Monday, April 3rd. Zacks Investment Research upgraded BofI Holding from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Tuesday, April 18th. DA Davidson restated a “buy” rating and issued a $34.00 price objective on shares of BofI Holding in a research note on Tuesday, April 4th. BidaskClub upgraded BofI Holding from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, ValuEngine downgraded BofI Holding from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $30.18.
Several hedge funds and other institutional investors have recently bought and sold shares of BOFI. Ameritas Investment Partners Inc. purchased a new position in BofI Holding during the first quarter valued at $135,000. LS Investment Advisors LLC increased its position in BofI Holding by 170.7% in the first quarter. LS Investment Advisors LLC now owns 5,653 shares of the financial services provider’s stock valued at $148,000 after buying an additional 3,565 shares during the last quarter. Howe & Rusling Inc. increased its position in BofI Holding by 13.6% in the first quarter. Howe & Rusling Inc. now owns 5,685 shares of the financial services provider’s stock valued at $149,000 after buying an additional 680 shares during the last quarter. State of Alaska Department of Revenue increased its position in BofI Holding by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,360 shares of the financial services provider’s stock valued at $166,000 after buying an additional 130 shares during the last quarter. Finally, Endurance Wealth Management Inc. increased its position in BofI Holding by 6.4% in the first quarter. Endurance Wealth Management Inc. now owns 6,688 shares of the financial services provider’s stock valued at $174,000 after buying an additional 400 shares during the last quarter. Institutional investors own 88.44% of the company’s stock.
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Shares of BofI Holding (NASDAQ:BOFI) traded down 1.376% during trading on Wednesday, hitting $22.644. 77,457 shares of the stock traded hands. 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 $1.44 billion, a P/E ratio of 11.155 and a beta of 0.40. The company has a 50-day moving average of $23.02 and a 200-day moving average of $26.64.
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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