BofI Holding, Inc. (BOFI) Expected to Announce Quarterly Sales of $134.57 Million

Wall Street brokerages predict that BofI Holding, Inc. (NASDAQ:BOFI) will announce sales of $134.57 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for BofI’s earnings. The lowest sales estimate is $126.81 million and the highest is $143.43 million. BofI posted sales of $111.73 million during the same quarter last year, which suggests a positive year-over-year growth rate of 20.4%. The company is expected to report its next quarterly earnings report on Tuesday, April 24th.

On average, analysts expect that BofI will report full year sales of $134.57 million for the current financial year, with estimates ranging from $428.00 million to $450.20 million. For the next financial year, analysts forecast that the company will report sales of $497.51 million per share, with estimates ranging from $487.30 million to $524.37 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for BofI.

BofI (NASDAQ:BOFI) last released its quarterly earnings results on Tuesday, January 30th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.08. BofI had a net margin of 28.37% and a return on equity of 17.27%. The business had revenue of $101.31 million for the quarter, compared to analyst estimates of $100.29 million. During the same quarter in the previous year, the business earned $0.50 earnings per share.

A number of equities research analysts have recently issued reports on the stock. Stephens restated a “buy” rating and set a $39.00 price target on shares of BofI in a report on Thursday. Sandler O’Neill restated a “buy” rating and set a $38.00 price target on shares of BofI in a report on Wednesday. Zacks Investment Research lowered shares of BofI from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 30th. Finally, BidaskClub upgraded shares of BofI from a “hold” rating to a “buy” rating in a report on Wednesday, December 20th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. BofI has an average rating of “Buy” and a consensus target price of $36.00.

Shares of BofI (BOFI) opened at $36.58 on Friday. BofI has a 1-year low of $21.60 and a 1-year high of $38.51. The company has a current ratio of 1.15, a quick ratio of 1.13 and a debt-to-equity ratio of 0.06. The stock has a market cap of $2,300.00, a P/E ratio of 17.50, a PEG ratio of 1.50 and a beta of 0.45.

In other BofI 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 transaction, the director now owns 83,018 shares in the company, valued at approximately $2,303,749.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 6.24% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Barnett & Company Inc. acquired a new position in BofI in the 4th quarter valued at approximately $456,000. Aperio Group LLC increased its stake in BofI by 12.7% in the 4th quarter. Aperio Group LLC now owns 15,720 shares of the financial services provider’s stock valued at $470,000 after buying an additional 1,776 shares during the period. Miles Capital Inc. acquired a new position in BofI in the 4th quarter valued at approximately $207,000. Mesirow Financial Investment Management Equity Management acquired a new position in BofI in the 4th quarter valued at approximately $21,991,000. Finally, Eqis Capital Management Inc. acquired a new position in BofI in the 4th quarter valued at approximately $228,000. Hedge funds and other institutional investors own 84.69% of the company’s stock.

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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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Earnings History and Estimates for BofI (NASDAQ:BOFI)

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