BofI Holding, Inc. (BOFI) Forecasted to Post FY2018 Earnings of $2.52 Per Share

BofI Holding, Inc. (NASDAQ:BOFI) – DA Davidson lifted their FY2018 EPS estimates for BofI in a research note issued to investors on Thursday, April 5th. DA Davidson analyst G. Tenner now forecasts that the financial services provider will post earnings per share of $2.52 for the year, up from their prior forecast of $2.51. DA Davidson currently has a “Buy” rating and a $48.00 price objective on the stock. DA Davidson also issued estimates for BofI’s Q4 2018 earnings at $0.61 EPS.

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Other analysts have also issued reports about the company. Stephens reaffirmed a “buy” rating and issued a $39.00 target price on shares of BofI in a research report on Thursday, February 1st. Sandler O’Neill reaffirmed a “buy” rating and issued a $38.00 target price on shares of BofI in a research report on Wednesday, January 31st. Zacks Investment Research lowered BofI from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised BofI from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 3rd. Finally, ValuEngine raised BofI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $39.75.

Shares of BofI stock opened at $41.11 on Friday. BofI has a one year low of $21.60 and a one year high of $42.49. The stock has a market capitalization of $2,503.73, a P/E ratio of 17.96, a PEG ratio of 1.60 and a beta of 0.36. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.15 and a quick ratio of 1.14.

BofI (NASDAQ:BOFI) last issued its earnings results on Tuesday, January 30th. The financial services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.08. BofI had a return on equity of 17.27% and a net margin of 28.37%. The business had revenue of $101.31 million during the quarter, compared to analyst estimates of $100.29 million. During the same period in the previous year, the company posted $0.50 EPS.

In other BofI news, Director James John Court sold 9,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,163,762.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.24% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of BOFI. Nationwide Fund Advisors increased its holdings in BofI by 4.0% during the 3rd quarter. Nationwide Fund Advisors now owns 326,211 shares of the financial services provider’s stock worth $9,287,000 after purchasing an additional 12,660 shares in the last quarter. SG Americas Securities LLC bought a new stake in BofI during the 3rd quarter worth approximately $329,000. American International Group Inc. increased its holdings in BofI by 5.4% during the 3rd quarter. American International Group Inc. now owns 47,014 shares of the financial services provider’s stock worth $1,338,000 after purchasing an additional 2,391 shares in the last quarter. Legal & General Group Plc increased its holdings in BofI by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 117,434 shares of the financial services provider’s stock worth $3,350,000 after purchasing an additional 2,815 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in BofI by 3.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 589,816 shares of the financial services provider’s stock worth $16,864,000 after purchasing an additional 20,373 shares in the last quarter. 84.96% of the stock is owned by hedge funds and other institutional investors.

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BofI Company Profile

BofI Holding, Inc operates as the holding company for BofI Federal Bank that provides consumer and business banking products in the United States. The company offers deposits products, including consumer and business checking, demand, savings, and time deposit accounts. It also provides single family and multifamily mortgage secured lending products; commercial real estate secured and commercial lending products; specialty finance factoring products; and consumer lending products consisting of prime loans to purchase new and used automobiles and recreational vehicles, as well as deposit-related overdraft lines of credit.

Earnings History and Estimates for BofI (NASDAQ:BOFI)

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