BofI Holding, Inc. (BOFI) Receives $34.50 Consensus Price Target from Brokerages

BofI Holding, Inc. (NASDAQ:BOFI) has been assigned a consensus rating of “Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $34.50.

BOFI has been the subject of several recent research reports. BidaskClub raised shares of BofI from a “hold” rating to a “buy” rating in a report on Wednesday. FBR & Co reissued a “buy” rating and set a $37.00 price target on shares of BofI in a research report on Friday, September 29th. Craig Hallum reissued a “buy” rating and set a $39.00 price target (up previously from $35.00) on shares of BofI in a research report on Wednesday, October 4th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $31.00 price objective on shares of BofI in a report on Monday, October 9th. Finally, Zacks Investment Research upgraded shares of BofI from a “sell” rating to a “hold” rating in a report on Monday, December 4th.

In other news, Director Mosich Nick sold 18,308 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $27.75, for a total transaction of $508,047.00. Following the completion of the transaction, the director now directly owns 83,018 shares of the company’s stock, valued at $2,303,749.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Edward James Ratinoff sold 7,540 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $26.80, for a total value of $202,072.00. Following the transaction, the director now directly owns 29,600 shares of the company’s stock, valued at $793,280. The disclosure for this sale can be found here. 6.24% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of BofI by 2.1% during the second quarter. BlackRock Inc. now owns 7,591,710 shares of the financial services provider’s stock valued at $180,074,000 after acquiring an additional 152,757 shares during the last quarter. Vanguard Group Inc. raised its holdings in BofI by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,550,221 shares of the financial services provider’s stock valued at $131,652,000 after acquiring an additional 122,322 shares in the last quarter. State Street Corp raised its holdings in BofI by 4.3% in the 2nd quarter. State Street Corp now owns 1,439,590 shares of the financial services provider’s stock valued at $34,147,000 after acquiring an additional 58,774 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in BofI by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 993,233 shares of the financial services provider’s stock valued at $23,560,000 after acquiring an additional 24,314 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of BofI by 3.4% in the 2nd quarter. Northern Trust Corp now owns 823,146 shares of the financial services provider’s stock worth $19,525,000 after buying an additional 27,080 shares in the last quarter. 84.35% of the stock is owned by institutional investors and hedge funds.

Shares of BofI (NASDAQ:BOFI) traded down $0.36 during trading on Thursday, hitting $29.04. 758,545 shares of the company traded hands, compared to its average volume of 590,489. The stock has a market cap of $1,830.00, a price-to-earnings ratio of 13.89, a P/E/G ratio of 1.24 and a beta of 0.39. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.06. BofI has a 52-week low of $21.60 and a 52-week high of $32.57.

BofI (NASDAQ:BOFI) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $93.89 million during the quarter, compared to analyst estimates of $94.93 million. BofI had a net margin of 29.36% and a return on equity of 17.00%. BofI’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $0.45 EPS. analysts anticipate that BofI will post 2.38 EPS for the current year.

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About BofI

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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