BofI (NASDAQ:BOFI) was downgraded by equities researchers at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research analysts have also issued reports on the company. UBS lowered BofI from a “strong-buy” rating to an “outperform” rating in a research report on Monday, April 2nd. Zacks Investment Research lowered BofI from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Raymond James restated an “outperform” rating and set a $45.00 target price (up previously from $42.00) on shares of BofI in a research report on Monday, April 2nd. ValuEngine upgraded BofI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. Finally, Stephens restated a “buy” rating and set a $39.00 target price on shares of BofI in a research report on Thursday, February 1st. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. BofI presently has a consensus rating of “Buy” and a consensus target price of $40.63.

Shares of NASDAQ:BOFI opened at $40.87 on Friday. BofI has a 1 year low of $21.60 and a 1 year high of $43.50. The company has a market cap of $2,670.60, a price-to-earnings ratio of 19.94, a price-to-earnings-growth ratio of 1.70 and a beta of 0.36. The company has a quick ratio of 1.14, a current ratio of 1.15 and a debt-to-equity ratio of 0.06.

BofI (NASDAQ:BOFI) last announced its earnings results on Thursday, April 26th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.01. BofI had a return on equity of 17.27% and a net margin of 28.37%. The business had revenue of $140.21 million during the quarter, compared to analyst estimates of $134.80 million. During the same quarter in the previous year, the business earned $0.63 earnings per share. analysts anticipate that BofI will post 2.52 EPS for the current fiscal year.

In related 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 value of $362,970.00. Following the completion of the sale, the director now owns 28,856 shares in the company, valued at $1,163,762.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.24% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Earnest Partners LLC purchased a new stake in shares of BofI in the fourth quarter valued at approximately $108,000. Miles Capital Inc. purchased a new stake in shares of BofI in the fourth quarter valued at approximately $207,000. Eqis Capital Management Inc. purchased a new stake in shares of BofI in the fourth quarter valued at approximately $228,000. Jefferies Group LLC purchased a new stake in shares of BofI in the fourth quarter valued at approximately $229,000. Finally, Financial Gravity Companies Inc. purchased a new stake in shares of BofI in the fourth quarter valued at approximately $246,000. Hedge funds and other institutional investors own 84.56% of the company’s stock.

About BofI

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.

Analyst Recommendations for BofI (NASDAQ:BOFI)

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