Brokerages predict that BofI Holding, Inc. (NASDAQ:BOFI) will announce earnings of $0.61 per share for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for BofI’s earnings, with the highest EPS estimate coming in at $0.63 and the lowest estimate coming in at $0.59. BofI posted earnings per share of $0.49 in the same quarter last year, which suggests a positive year over year growth rate of 24.5%. The business is expected to announce its next quarterly earnings results on Thursday, July 26th.
On average, analysts expect that BofI will report full-year earnings of $2.50 per share for the current financial year, with EPS estimates ranging from $2.48 to $2.52. For the next fiscal year, analysts anticipate that the company will post earnings of $3.15 per share, with EPS estimates ranging from $3.04 to $3.29. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for BofI.
BofI (NASDAQ:BOFI) last issued its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.01. BofI had a return on equity of 17.85% and a net margin of 28.25%. The business had revenue of $140.21 million for the quarter, compared to analyst estimates of $134.80 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share.
A number of equities research analysts have recently weighed in on the company. BidaskClub upgraded BofI from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Zacks Investment Research upgraded BofI from a “sell” rating to a “hold” rating in a research note on Wednesday. B. Riley lifted their target price on BofI from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, June 19th. DA Davidson lifted their target price on BofI to $48.00 and gave the stock a “buy” rating in a report on Thursday, April 5th. Finally, Stephens set a $46.00 target price on BofI and gave the stock a “buy” rating in a report on Tuesday, April 10th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $41.60.
Shares of BOFI stock traded down $0.62 during trading hours on Tuesday, reaching $42.93. 1,495,457 shares of the company’s stock were exchanged, compared to its average volume of 576,918. BofI has a 1 year low of $22.71 and a 1 year high of $45.18. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 20.94, a PEG ratio of 1.74 and a beta of 0.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.19 and a current ratio of 1.20.
In other BofI news, Director John Gary Burke sold 57,539 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $41.16, for a total value of $2,368,305.24. Following the completion of the transaction, the director now directly owns 1,809,856 shares of the company’s stock, valued at $74,493,672.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.24% of the company’s stock.
A number of large investors have recently made changes to their positions in BOFI. Summit Trail Advisors LLC lifted its holdings in BofI by 3,422.6% in the first quarter. Summit Trail Advisors LLC now owns 1,348,388 shares of the financial services provider’s stock valued at $1,348,000 after acquiring an additional 1,310,110 shares during the period. BlackRock Inc. increased its position in shares of BofI by 4.4% in the fourth 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 in the last quarter. Basswood Capital Management L.L.C. increased its position in shares of BofI by 16.3% in the fourth 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 in the last quarter. Carillon Tower Advisers Inc. purchased a new stake in shares of BofI in the first quarter valued at approximately $5,064,000. Finally, Global Alpha Capital Management Ltd. purchased a new stake in shares of BofI in the first quarter valued at approximately $4,398,000. 78.03% of the stock is owned by institutional investors.
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.
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