Zacks Investment Research Lowers BofI Holding, Inc. (BOFI) to Sell

BofI Holding, Inc. (NASDAQ:BOFI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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 research analysts have also issued reports about the stock. DA Davidson restated a “buy” rating and set a $33.00 target price on shares of BofI Holding in a research report on Monday, June 12th. ValuEngine lowered shares of BofI Holding from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 2nd. BidaskClub raised shares of BofI Holding from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $35.00 price target 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 given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $30.18.

BofI Holding (NASDAQ:BOFI) opened at 27.18 on Monday. The stock has a market capitalization of $1.73 billion, a P/E ratio of 13.13 and a beta of 0.42. BofI Holding has a 1-year low of $17.95 and a 1-year high of $32.57. The stock has a 50 day moving average price of $25.23 and a 200-day moving average price of $25.90.

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A number of institutional investors have recently bought and sold shares of BOFI. Ameritas Investment Partners Inc. bought a new position in BofI Holding during the first quarter worth $135,000. LS Investment Advisors LLC increased its position in BofI Holding by 170.7% in the first quarter. LS Investment Advisors LLC now owns 5,653 shares of the financial services provider’s stock worth $148,000 after buying an additional 3,565 shares in the last quarter. Howe & Rusling Inc. raised its stake in BofI Holding by 13.6% in the first quarter. Howe & Rusling Inc. now owns 5,685 shares of the financial services provider’s stock valued at $149,000 after buying an additional 680 shares during the last quarter. State of Alaska Department of Revenue raised its stake in BofI Holding by 2.1% in the first quarter. State of Alaska Department of Revenue now owns 6,360 shares of the financial services provider’s stock valued at $166,000 after buying an additional 130 shares during the last quarter. Finally, Endurance Wealth Management Inc. raised its stake in BofI Holding by 6.4% in the first quarter. Endurance Wealth Management Inc. now owns 6,688 shares of the financial services provider’s stock valued at $174,000 after buying an additional 400 shares during the last quarter. 87.91% of the stock is currently owned by institutional investors.

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.

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