BofI Holding, Inc. (BOFI) Sees Large Drop in Short Interest

BofI Holding, Inc. (NASDAQ:BOFI) was the target of a large decline in short interest in November. As of November 30th, there was short interest totalling 20,977,966 shares, a decline of 2.3% from the November 15th total of 21,464,612 shares. Currently, 37.5% of the company’s stock are sold short. Based on an average daily volume of 528,867 shares, the short-interest ratio is currently 39.7 days.

In other news, Director Mosich Nick sold 18,308 shares of BofI stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $27.75, for a total transaction of $508,047.00. Following the transaction, the director now owns 83,018 shares in the company, valued at approximately $2,303,749.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Edward James Ratinoff sold 7,540 shares of BofI stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $26.80, for a total value of $202,072.00. Following the transaction, the director now owns 29,600 shares in the company, valued at approximately $793,280. The disclosure for this sale can be found here. Insiders own 6.24% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BOFI. Wasatch Advisors Inc. lifted its stake in BofI by 69.4% in the 2nd quarter. Wasatch Advisors Inc. now owns 632,947 shares of the financial services provider’s stock valued at $15,014,000 after acquiring an additional 259,310 shares in the last quarter. Royce & Associates LP increased its position in shares of BofI by 62.0% during the 2nd quarter. Royce & Associates LP now owns 561,000 shares of the financial services provider’s stock worth $13,307,000 after purchasing an additional 214,800 shares during the last quarter. OxFORD Asset Management LLP acquired a new position in shares of BofI during the 3rd quarter worth approximately $5,993,000. Stifel Financial Corp increased its position in shares of BofI by 272.1% during the 2nd quarter. Stifel Financial Corp now owns 224,187 shares of the financial services provider’s stock worth $5,252,000 after purchasing an additional 163,933 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of BofI by 2.1% during the 2nd quarter. BlackRock Inc. now owns 7,591,710 shares of the financial services provider’s stock worth $180,074,000 after purchasing an additional 152,757 shares during the last quarter. Hedge funds and other institutional investors own 84.35% of the company’s stock.

BOFI has been the topic of several recent analyst reports. Zacks Investment Research cut BofI from a “hold” rating to a “sell” rating in a report on Friday, October 27th. BidaskClub cut BofI from a “buy” rating to a “hold” rating in a report on Friday, December 8th. ValuEngine cut BofI from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 24th. FBR & Co restated a “buy” rating and issued a $36.00 target price (down previously from $37.00) on shares of BofI in a research note on Thursday, October 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $30.00 target price on shares of BofI in a research note on Thursday, October 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $34.50.

Shares of BofI (NASDAQ:BOFI) opened at $29.10 on Thursday. The company has a market capitalization of $1,830.00, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.21 and a beta of 0.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.13 and a quick ratio of 1.13. BofI has a 12 month low of $21.60 and a 12 month high of $32.57.

BofI (NASDAQ:BOFI) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $93.89 million for the quarter, compared to analysts’ expectations of $94.93 million. BofI had a return on equity of 17.00% and a net margin of 29.36%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 EPS. equities research analysts expect that BofI will post 2.38 earnings per share for the current fiscal year.

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BofI Company Profile

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.

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