Craig Hallum Reaffirms “Buy” Rating for BofI Holding, Inc. (BOFI)
BofI Holding, Inc. (NASDAQ:BOFI)‘s stock had its “buy” rating reaffirmed by stock analysts at Craig Hallum in a note issued to investors on Wednesday. They currently have a $39.00 target price on the financial services provider’s stock, up from their prior target price of $35.00. Craig Hallum’s price target points to a potential upside of 38.79% from the company’s previous close.
Several other brokerages also recently commented on BOFI. FBR & Co restated a “buy” rating and issued a $37.00 price target on shares of BofI Holding in a research report on Friday, September 29th. Zacks Investment Research cut shares of BofI Holding from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. BidaskClub raised shares of BofI Holding from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 11th. ValuEngine downgraded shares of BofI Holding from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. Finally, DA Davidson restated a “buy” rating and issued a $33.00 target price on shares of BofI Holding in a report on Monday, June 12th. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. BofI Holding has a consensus rating of “Buy” and a consensus target price of $33.40.
BofI Holding (NASDAQ BOFI) traded down 0.25% during midday trading on Wednesday, hitting $28.10. 465,777 shares of the company’s stock traded hands. The company has a 50 day moving average of $26.67 and a 200-day moving average of $25.12. The company has a market capitalization of $1.79 billion, a PE ratio of 13.57 and a beta of 0.39. BofI Holding has a 52 week low of $17.95 and a 52 week high of $32.57.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of BofI Holding by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 968,919 shares of the financial services provider’s stock worth $25,318,000 after purchasing an additional 28,213 shares during the period. Swiss National Bank increased its stake in BofI Holding by 1.3% in the 1st quarter. Swiss National Bank now owns 93,800 shares of the financial services provider’s stock valued at $2,451,000 after buying an additional 1,200 shares during the period. UBS Asset Management Americas Inc. increased its stake in BofI Holding by 45.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 31,997 shares of the financial services provider’s stock valued at $836,000 after buying an additional 9,986 shares during the period. Karp Capital Management Corp acquired a new position in BofI Holding in the 1st quarter valued at approximately $254,000. Finally, Parametric Portfolio Associates LLC increased its stake in BofI Holding by 30.9% in the 1st quarter. Parametric Portfolio Associates LLC now owns 86,392 shares of the financial services provider’s stock valued at $2,257,000 after buying an additional 20,408 shares during the period. 88.15% of the stock is owned by institutional investors and hedge funds.
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, 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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