BofI (BOFI) Cut to “Hold” at BidaskClub

BofI (NASDAQ:BOFI) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other brokerages have also weighed in on BOFI. Zacks Investment Research lowered BofI from a “hold” rating to a “sell” rating in a research note on Friday, October 27th. ValuEngine lowered BofI from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. FBR & Co restated a “buy” rating and issued a $36.00 target price (down from $37.00) on shares of BofI in a research note on Thursday, October 26th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $30.00 target price on shares of BofI in a research note on Thursday, October 26th. Finally, 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $34.50.

Shares of BofI (NASDAQ BOFI) opened at $27.26 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.13 and a current ratio of 1.13. BofI has a one year low of $21.60 and a one year high of $32.57. The stock has a market capitalization of $1,760.73, a price-to-earnings ratio of 13.05, a P/E/G ratio of 1.18 and a beta of 0.39.

BofI (NASDAQ:BOFI) last released its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.01. The company had revenue of $93.89 million for the quarter, compared to analyst estimates of $94.93 million. BofI had a return on equity of 17.00% and a net margin of 29.36%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.45 EPS. research analysts anticipate that BofI will post 2.35 earnings per share for the current year.

In other news, Director Mosich Nick sold 18,308 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was 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 directly owns 83,018 shares in the company, valued at approximately $2,303,749.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward James Ratinoff sold 7,540 shares of the company’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 completion of the transaction, the director now 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 and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in BofI by 69.9% during the 3rd 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 period. Van Hulzen Asset Management LLC purchased a new stake in BofI during the 3rd quarter valued at about $211,000. Stoneridge Investment Partners LLC purchased a new stake in BofI during the 3rd quarter valued at about $214,000. Jaffetilchin Investment Partners LLC purchased a new stake in BofI during the 3rd quarter valued at about $228,000. Finally, Amalgamated Bank purchased a new stake in BofI during the 3rd quarter valued at about $231,000. Hedge funds and other institutional investors own 84.40% 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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