BofI (NASDAQ:BOFI) received a $46.00 target price from stock analysts at Stephens in a report issued on Tuesday. The brokerage presently has a “buy” rating on the financial services provider’s stock. Stephens’ target price indicates a potential upside of 12.28% from the company’s current price.
Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of BofI from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Tuesday, April 3rd. Sandler O’Neill reaffirmed a “buy” rating and issued a $38.00 price objective on shares of BofI in a research note on Wednesday, January 31st. BidaskClub raised shares of BofI from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. DA Davidson raised their price objective on shares of BofI to $48.00 and gave the stock a “buy” rating in a research note on Thursday, April 5th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $45.00 price objective (up previously from $42.00) on shares of BofI in a research note on Monday, April 2nd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $40.63.
BofI stock opened at $40.97 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 1.14 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $2,513.73, a price-to-earnings ratio of 19.99, a price-to-earnings-growth ratio of 1.60 and a beta of 0.36. BofI has a 1 year low of $21.60 and a 1 year high of $42.49.
In related news, Director James John Court sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $40.33, for a total value of $362,970.00. Following the completion of the transaction, the director now owns 28,856 shares of the company’s stock, valued at approximately $1,163,762.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.24% of the company’s stock.
A number of institutional investors have recently bought and sold shares of BOFI. Mesirow Financial Investment Management Equity Management acquired a new position in BofI in the 4th quarter worth approximately $21,991,000. APG Asset Management N.V. boosted its stake in shares of BofI by 691.1% during the 4th quarter. APG Asset Management N.V. now owns 407,400 shares of the financial services provider’s stock valued at $10,144,000 after buying an additional 355,900 shares during the period. BlackRock Inc. boosted its stake in shares of BofI by 4.4% during the 4th quarter. BlackRock Inc. now owns 7,929,330 shares of the financial services provider’s stock valued at $237,087,000 after buying an additional 334,469 shares during the period. Basswood Capital Management L.L.C. boosted its stake in shares of BofI by 16.3% during the 4th quarter. Basswood Capital Management L.L.C. now owns 1,629,787 shares of the financial services provider’s stock valued at $48,731,000 after buying an additional 228,912 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in shares of BofI during the 4th quarter valued at $3,588,000. 84.97% of the stock is owned by hedge funds and other institutional investors.
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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.
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