BofI Holding, Inc. (NASDAQ:BOFI) – Analysts at DA Davidson upped their FY2018 earnings estimates for shares of BofI in a report issued on Tuesday. DA Davidson analyst G. Tenner now expects that the financial services provider will post earnings per share of $2.41 for the year, up from their previous forecast of $2.33. DA Davidson also issued estimates for BofI’s Q4 2018 earnings at $0.61 EPS and FY2019 earnings at $3.18 EPS.
A number of other brokerages have also recently issued reports on BOFI. Zacks Investment Research cut shares of BofI from a “hold” rating to a “sell” rating in a report on Friday, October 27th. BidaskClub upgraded shares of BofI from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 3rd. FBR & Co restated a “buy” rating and set a $36.00 price objective (down previously from $37.00) on shares of BofI in a report on Thursday, October 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $30.00 price objective on shares of BofI in a report on Thursday, October 26th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $35.00.
BofI (NASDAQ:BOFI) last issued its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. The firm had revenue of $93.89 million during the quarter, compared to analysts’ expectations of $94.93 million. BofI had a net margin of 29.36% and a return on equity of 17.00%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.45 earnings per share.
Institutional investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan boosted its holdings in shares of BofI by 54.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 21,070 shares of the financial services provider’s stock valued at $600,000 after buying an additional 7,460 shares during the period. Vanguard Group Inc. boosted its holdings in shares of BofI by 2.3% in the second quarter. Vanguard Group Inc. now owns 5,550,221 shares of the financial services provider’s stock valued at $131,652,000 after buying an additional 122,322 shares during the period. JPMorgan Chase & Co. boosted its holdings in BofI by 3.6% during the third quarter. JPMorgan Chase & Co. now owns 589,816 shares of the financial services provider’s stock worth $16,864,000 after purchasing an additional 20,373 shares during the last quarter. Prudential PLC boosted its holdings in BofI by 15.9% during the second quarter. Prudential PLC now owns 718,500 shares of the financial services provider’s stock worth $17,043,000 after purchasing an additional 98,700 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in BofI by 2.1% during the second quarter. BlackRock Inc. now owns 7,591,710 shares of the financial services provider’s stock worth $180,074,000 after purchasing an additional 152,757 shares during the last quarter. Institutional investors own 84.49% of the company’s stock.
In other news, Director Mosich Nick sold 18,308 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $27.75, for a total value of $508,047.00. Following the completion of the transaction, the director now owns 83,018 shares in the company, valued at $2,303,749.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $202,072.00. Following the completion of the transaction, the director now owns 29,600 shares of the company’s stock, valued at approximately $793,280. The disclosure for this sale can be found here. 6.24% of the stock is currently owned by insiders.
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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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