Raymond James Financial Services Advisors Inc. increased its holdings in shares of BofI Holding, Inc. (NASDAQ:BOFI) by 12.0% during the fourth quarter, Holdings Channel reports. The fund owned 22,789 shares of the financial services provider’s stock after acquiring an additional 2,439 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in BofI were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of BOFI. Victory Capital Management Inc. increased its holdings in shares of BofI by 69.9% during the 3rd quarter. Victory Capital Management Inc. now owns 5,746 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 2,365 shares during the last quarter. Miles Capital Inc. acquired a new position in shares of BofI during the 4th quarter worth approximately $207,000. Van Hulzen Asset Management LLC acquired a new position in shares of BofI during the 3rd quarter worth approximately $211,000. Eqis Capital Management Inc. acquired a new position in shares of BofI during the 4th quarter worth approximately $228,000. Finally, Amalgamated Bank acquired a new position in BofI in the 3rd quarter valued at $231,000. 84.97% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have commented on the company. Stephens reaffirmed a “buy” rating and issued a $39.00 price objective on shares of BofI in a report on Thursday, February 1st. Sandler O’Neill reaffirmed a “buy” rating and issued a $38.00 price objective on shares of BofI in a report on Wednesday, January 31st. BidaskClub raised BofI from a “buy” rating to a “strong-buy” rating in a report on Wednesday, January 3rd. Zacks Investment Research lowered BofI from a “buy” rating to a “hold” rating in a report on Tuesday, February 13th. Finally, ValuEngine raised BofI from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. BofI presently has a consensus rating of “Buy” and an average target price of $36.00.
BofI (NASDAQ:BOFI) last released its earnings results on Tuesday, January 30th. The financial services provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. The firm had revenue of $101.31 million during the quarter, compared to the consensus estimate of $100.29 million. BofI had a return on equity of 17.27% and a net margin of 28.37%. During the same period in the prior year, the company posted $0.50 EPS. sell-side analysts anticipate that BofI Holding, Inc. will post 2.53 earnings per share for the current year.
In other news, Director James John Court sold 9,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 28,856 shares in the company, valued at approximately $1,163,762.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.24% of the company’s stock.
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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