BofI Holding, Inc. (BOFI) Expected to Post Quarterly Sales of $100.13 Million

Analysts expect that BofI Holding, Inc. (NASDAQ:BOFI) will post $100.13 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for BofI’s earnings. The lowest sales estimate is $98.53 million and the highest is $101.65 million. BofI posted sales of $93.06 million in the same quarter last year, which suggests a positive year over year growth rate of 7.6%. The firm is scheduled to report its next quarterly earnings report on Monday, January 29th.

On average, analysts expect that BofI will report full year sales of $100.13 million for the current financial year, with estimates ranging from $421.49 million to $449.21 million. For the next fiscal year, analysts anticipate that the business will post sales of $498.59 million per share, with estimates ranging from $488.00 million to $516.35 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for BofI.

BofI (NASDAQ:BOFI) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.49 by $0.01. BofI had a net margin of 29.36% and a return on equity of 17.00%. The company had revenue of $93.89 million for the quarter, compared to analyst estimates of $94.93 million. During the same period in the prior year, the company earned $0.45 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis.

BOFI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $31.00 price objective on shares of BofI in a research report on Monday, October 9th. Craig Hallum reiterated a “buy” rating and issued a $39.00 price objective (up previously from $35.00) on shares of BofI in a research report on Wednesday, October 4th. FBR & Co reiterated a “buy” rating and issued a $37.00 price objective on shares of BofI in a research report on Friday, September 29th. BidaskClub upgraded shares of BofI from a “hold” rating to a “buy” rating in a research report on Saturday, December 2nd. Finally, Zacks Investment Research upgraded shares of BofI from a “sell” rating to a “hold” rating in a research report on Monday, December 4th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. BofI has an average rating of “Buy” and an average price target of $34.20.

BofI (BOFI) remained flat at $$29.90 during trading hours on Monday. 505,787 shares of the company’s stock were exchanged, compared to its average volume of 757,780. BofI has a twelve month low of $21.60 and a twelve month high of $32.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.13 and a quick ratio of 1.13. The company has a market capitalization of $1,900.00, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.25 and a beta of 0.39.

In other BofI news, Director Mosich Nick sold 18,308 shares of the stock in a transaction dated 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 sale, the director now owns 83,018 shares in the company, valued at approximately $2,303,749.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Edward James Ratinoff sold 7,540 shares of the stock in a transaction dated 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 sale, 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 owned by corporate insiders.

Several institutional investors have recently bought and sold shares of BOFI. Schwab Charles Investment Management Inc. grew its stake in shares of BofI by 4.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 253,483 shares of the financial services provider’s stock valued at $6,013,000 after buying an additional 11,484 shares during the period. Arizona State Retirement System grew its stake in shares of BofI by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 30,124 shares of the financial services provider’s stock valued at $715,000 after buying an additional 100 shares during the period. Rhumbline Advisers grew its stake in shares of BofI by 1.9% in the 2nd quarter. Rhumbline Advisers now owns 123,573 shares of the financial services provider’s stock valued at $2,931,000 after buying an additional 2,276 shares during the period. Bank of New York Mellon Corp grew its stake in shares of 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 buying an additional 24,314 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of BofI by 9.4% during the 2nd quarter. Legal & General Group Plc now owns 114,619 shares of the financial services provider’s stock worth $2,719,000 after purchasing an additional 9,889 shares during the period. 84.35% of the stock is owned by institutional investors and hedge funds.

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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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