Brokers Offer Predictions for BofI Holding, Inc.’s Q2 2018 Earnings (BOFI)

BofI Holding, Inc. (NASDAQ:BOFI) – Analysts at DA Davidson decreased their Q2 2018 EPS estimates for shares of BofI in a research note issued to investors on Tuesday. DA Davidson analyst G. Tenner now anticipates that the financial services provider will post earnings per share of $0.47 for the quarter, down from their prior forecast of $0.51. DA Davidson also issued estimates for BofI’s Q3 2018 earnings at $0.84 EPS.

BofI (NASDAQ:BOFI) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.50 EPS for the quarter, topping 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 firm had revenue of $93.89 million for the quarter, compared to the consensus estimate of $94.93 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The company’s quarterly revenue was up 11.1% compared to the same quarter last year.

BOFI has been the topic of several other research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $31.00 target price on shares of BofI in a report on Monday, October 9th. Craig Hallum reissued a “buy” rating and issued a $39.00 target price (up previously from $35.00) on shares of BofI in a report on Wednesday, October 4th. FBR & Co reissued a “buy” rating and issued a $37.00 target price on shares of BofI in a report on Friday, September 29th. BidaskClub raised shares of BofI from a “hold” rating to a “buy” rating in a report on Saturday, December 2nd. Finally, Zacks Investment Research raised shares of BofI from a “sell” rating to a “hold” rating in a report on Monday, December 4th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. BofI has a consensus rating of “Buy” and an average target price of $35.00.

BofI (NASDAQ BOFI) traded up $0.64 during mid-day trading on Wednesday, hitting $32.21. 1,039,800 shares of the stock traded hands, compared to its average volume of 707,740. BofI has a 1 year low of $21.60 and a 1 year high of $32.61. 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 stock has a market capitalization of $2,070.00, a P/E ratio of 15.41, a PEG ratio of 1.29 and a beta of 0.39.

In other news, Director Edward James Ratinoff sold 7,540 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $26.80, for a total value of $202,072.00. Following the sale, the director now owns 29,600 shares of the company’s stock, valued at $793,280. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mosich Nick sold 18,308 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $27.75, for a total transaction of $508,047.00. Following the completion of the sale, the director now directly owns 83,018 shares in the company, valued at approximately $2,303,749.50. 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 made changes to their positions in the company. BlackRock Inc. raised its stake in shares of BofI by 2.1% in 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 period. Vanguard Group Inc. raised its stake in shares of BofI by 2.3% in the second 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 during the period. State Street Corp raised its stake in shares of BofI by 4.3% in the second 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 during the period. Northern Trust Corp raised its stake in shares of BofI by 3.4% in the second quarter. Northern Trust Corp now owns 823,146 shares of the financial services provider’s stock valued at $19,525,000 after acquiring an additional 27,080 shares during the period. Finally, Prudential PLC raised its stake in shares of BofI by 15.9% in the second quarter. Prudential PLC now owns 718,500 shares of the financial services provider’s stock valued at $17,043,000 after acquiring an additional 98,700 shares during the period. 84.49% of the stock is currently owned by institutional investors and hedge funds.

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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.

Earnings History and Estimates for BofI (NASDAQ:BOFI)

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