BofI (BOFI) Raised to “Buy” at BidaskClub

BofI (NASDAQ:BOFI) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Saturday.

BOFI has been the topic of a number of other reports. Craig Hallum restated a “buy” rating and issued a $39.00 target price (up from $35.00) on shares of BofI in a research note on Wednesday, October 4th. Zacks Investment Research cut shares of BofI from a “hold” rating to a “sell” rating in a research report on Friday, October 27th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $30.00 price target on shares of BofI in a research report on Thursday, October 26th. FBR & Co reaffirmed a “buy” rating and issued a $37.00 price target on shares of BofI in a research report on Friday, September 29th. Finally, ValuEngine cut shares of BofI from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. BofI has an average rating of “Buy” and an average price target of $34.50.

Shares of BofI (NASDAQ:BOFI) traded up $0.14 during mid-day trading on Friday, reaching $27.78. 710,639 shares of the company’s stock were exchanged, compared to its average volume of 489,947. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $1,759.46, a P/E ratio of 13.04, a P/E/G ratio of 1.18 and a beta of 0.39. BofI has a twelve month low of $21.60 and a twelve month high of $32.57.

BofI (NASDAQ:BOFI) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. The business had revenue of $93.89 million for the quarter, compared to the consensus estimate of $94.93 million. BofI had a net margin of 29.36% and a return on equity of 17.00%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 EPS. analysts expect that BofI will post 2.35 earnings per share for the current fiscal year.

In other news, Director Edward James Ratinoff sold 7,540 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $26.80, for a total value of $202,072.00. Following the completion of the sale, the director now owns 29,600 shares of the company’s stock, valued at approximately $793,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.24% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of BOFI. Victory Capital Management Inc. lifted its position in BofI by 69.9% during the third quarter. Victory Capital Management Inc. now owns 5,746 shares of the financial services provider’s stock valued at $164,000 after acquiring an additional 2,365 shares during the last quarter. Endurance Wealth Management Inc. lifted its position in BofI by 11.6% during the second quarter. Endurance Wealth Management Inc. now owns 7,463 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 775 shares during the last quarter. Van Hulzen Asset Management LLC purchased a new stake in BofI during the third quarter valued at approximately $211,000. Stoneridge Investment Partners LLC purchased a new stake in BofI during the third quarter valued at approximately $214,000. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in BofI during the third quarter valued at approximately $228,000. 84.40% of the stock is owned by institutional investors.

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BofI 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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