BofI Holding Inc. (NASDAQ:BOFI) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 22,562,288 shares, a decrease of 3.5% from the August 31st total of 23,375,947 shares. Approximately 40.5% of the company’s stock are sold short. Based on an average daily volume of 643,156 shares, the short-interest ratio is currently 35.1 days.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kennedy Capital Management Inc. increased its position in BofI Holding by 49.1% in the first quarter. Kennedy Capital Management Inc. now owns 149,143 shares of the company’s stock worth $3,183,000 after buying an additional 49,143 shares during the period. Tiverton Asset Management LLC acquired a new position in BofI Holding during the first quarter worth $6,053,000. AXA increased its position in BofI Holding by 100.0% in the first quarter. AXA now owns 110,400 shares of the company’s stock worth $2,356,000 after buying an additional 55,200 shares during the period. UBS Asset Management Americas Inc. increased its position in BofI Holding by 314.3% in the first quarter. UBS Asset Management Americas Inc. now owns 125,951 shares of the company’s stock worth $2,688,000 after buying an additional 95,551 shares during the period. Finally, State Street Corp increased its position in BofI Holding by 1.4% in the first quarter. State Street Corp now owns 1,163,813 shares of the company’s stock worth $24,836,000 after buying an additional 16,095 shares during the period. 94.29% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on BOFI shares. Vetr cut shares of BofI Holding from a “strong-buy” rating to a “buy” rating and set a $24.90 price objective for the company. in a report on Thursday, August 25th. DA Davidson reissued a “buy” rating on shares of BofI Holding in a research report on Tuesday, August 23rd. Zacks Investment Research raised shares of BofI Holding from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Tuesday, September 20th. Finally, FBR & Co reissued a “buy” rating and set a $33.00 target price on shares of BofI Holding in a research report on Thursday, August 4th. Six analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $31.24.
BofI Holding (NASDAQ:BOFI) opened at 22.20 on Friday. BofI Holding has a 12 month low of $13.47 and a 12 month high of $35.98. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 12.00 and a beta of 0.22. The stock’s 50 day moving average is $21.19 and its 200-day moving average is $19.20.
BofI Holding (NASDAQ:BOFI) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.46 EPS for the quarter, hitting analysts’ consensus estimates of $0.46. BofI Holding had a net margin of 31.02% and a return on equity of 19.02%. During the same quarter last year, the business earned $1.54 EPS. On average, analysts anticipate that BofI Holding will post $2.14 earnings per share for the current fiscal year.
BofI Holding 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, distribution channels and affinity partners. The Bank has deposit and loan customers across the nation, 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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