Alpha Cubed Investments LLC Decreases Position in BofI Holding (BOFI)

Alpha Cubed Investments LLC trimmed its position in BofI Holding (NASDAQ:BOFI) by 11.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,700 shares of the financial services provider’s stock after selling 1,400 shares during the period. Alpha Cubed Investments LLC’s holdings in BofI were worth $434,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in BofI by 4.4% in the fourth quarter. BlackRock Inc. now owns 7,929,330 shares of the financial services provider’s stock valued at $237,087,000 after acquiring an additional 334,469 shares during the period. Basswood Capital Management L.L.C. boosted its stake in BofI by 16.3% in the fourth quarter. Basswood Capital Management L.L.C. now owns 1,629,787 shares of the financial services provider’s stock valued at $48,731,000 after acquiring an additional 228,912 shares during the period. Rice Hall James & Associates LLC boosted its stake in BofI by 12.8% in the fourth quarter. Rice Hall James & Associates LLC now owns 886,472 shares of the financial services provider’s stock valued at $26,506,000 after acquiring an additional 100,769 shares during the period. Mesirow Financial Investment Management Equity Management acquired a new position in BofI in the fourth quarter valued at approximately $21,991,000. Finally, Geode Capital Management LLC boosted its stake in BofI by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 524,069 shares of the financial services provider’s stock valued at $15,669,000 after acquiring an additional 3,431 shares during the period. Institutional investors and hedge funds own 83.05% of the company’s stock.

In related news, Director James John Court sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $40.33, for a total transaction of $362,970.00. Following the sale, the director now owns 28,856 shares of the company’s stock, valued at $1,163,762.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.24% of the stock is owned by insiders.

A number of brokerages have commented on BOFI. BidaskClub downgraded BofI from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 28th. Stephens set a $46.00 price target on BofI and gave the company a “buy” rating in a report on Tuesday, April 10th. DA Davidson lifted their price target on BofI to $48.00 and gave the company a “buy” rating in a report on Thursday, April 5th. Zacks Investment Research cut BofI from a “buy” rating to a “hold” rating in a report on Wednesday, April 4th. Finally, Raymond James reaffirmed an “outperform” rating and set a $45.00 price target (up previously from $42.00) on shares of BofI in a report on Monday, April 2nd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $40.63.

BOFI opened at $42.17 on Friday. The company has a market cap of $2.55 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 1.63 and a beta of 0.34. The company has a current ratio of 1.20, a quick ratio of 1.19 and a debt-to-equity ratio of 0.06. BofI Holding has a twelve month low of $40.82 and a twelve month high of $41.16.

BofI (NASDAQ:BOFI) last released its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.01. The company had revenue of $140.21 million for the quarter, compared to analysts’ expectations of $134.80 million. BofI had a return on equity of 17.85% and a net margin of 28.25%. During the same quarter in the previous year, the company posted $0.63 earnings per share. analysts anticipate that BofI Holding will post 2.51 earnings per share for the current year.

About BofI

BofI Holding, Inc operates as the holding company for BofI Federal Bank that provides consumer and business banking products in the United States. The company offers deposits products, including consumer and business checking, demand, savings, and time deposit accounts. It also provides single family and multifamily mortgage secured lending products; commercial real estate secured and commercial lending products; specialty finance factoring products; and consumer lending products consisting of prime loans to purchase new and used automobiles and recreational vehicles, as well as deposit-related overdraft lines of credit.

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Institutional Ownership by Quarter for BofI (NASDAQ:BOFI)

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