BofI Holding, Inc. (NASDAQ:BOFI) Rating Lowered to Sell at Zacks Investment Research

BofI Holding, Inc. (NASDAQ:BOFI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, July 31st.

According to Zacks, “Bofi Holding is the holding company for Bank of Internet USA, a consumer-focused, nationwide savings bank operating primarily through the Internet from a single location in San Diego, California. They provide a variety of consumer banking services, focusing primarily on gathering retail deposits over the Internet and originating and purchasing multifamily and single family loans for investment. “

Other equities research analysts have also issued research reports about the company. DA Davidson reissued a “buy” rating and issued a $33.00 price objective on shares of BofI Holding in a report on Monday, June 12th. ValuEngine lowered BofI Holding from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. BidaskClub raised BofI Holding from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, FBR & Co reissued an “outperform” rating and issued a $35.00 price objective on shares of BofI Holding in a report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, four have issued a buy rating and two have assigned a strong buy rating to the company. BofI Holding has a consensus rating of “Buy” and an average price target of $30.18.

BofI Holding (NASDAQ:BOFI) traded down 1.53% on Monday, reaching $26.37. 659,086 shares of the company’s stock traded hands. The firm’s 50-day moving average is $25.75 and its 200 day moving average is $25.87. BofI Holding has a 52-week low of $17.95 and a 52-week high of $32.57. The stock has a market capitalization of $1.68 billion, a PE ratio of 12.74 and a beta of 0.42.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by BNB Daily and is the sole property of of BNB Daily. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright and trademark laws. The original version of this piece of content can be read at https://www.baseball-news-blog.com/2017/08/19/zacks-investment-research-lowers-bofi-holding-inc-nasdaqbofi-to-sell-updated-updated.html.

Several hedge funds have recently modified their holdings of BOFI. BlackRock Inc. increased its stake in shares of BofI Holding by 2.1% in the second quarter. BlackRock Inc. now owns 7,591,710 shares of the financial services provider’s stock worth $180,074,000 after buying an additional 152,757 shares during the period. Vanguard Group Inc. increased its stake in shares of BofI Holding by 2.3% in the second quarter. Vanguard Group Inc. now owns 5,550,221 shares of the financial services provider’s stock worth $131,652,000 after buying an additional 122,322 shares during the period. State Street Corp increased its stake in BofI Holding by 4.3% in the second quarter. State Street Corp now owns 1,439,590 shares of the financial services provider’s stock worth $34,147,000 after buying an additional 58,774 shares during the last quarter. Emerald Advisers Inc. PA increased its stake in BofI Holding by 3.6% in the first quarter. Emerald Advisers Inc. PA now owns 1,391,085 shares of the financial services provider’s stock worth $36,349,000 after buying an additional 48,049 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in BofI Holding by 8.1% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 1,354,436 shares of the financial services provider’s stock worth $35,391,000 after buying an additional 101,528 shares during the last quarter. Hedge funds and other institutional investors own 88.97% of the company’s stock.

About BofI Holding

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.

Get a free copy of the Zacks research report on BofI Holding (BOFI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for BofI Holding Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BofI Holding Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply