Market Runner: Time to Buy BofI Holding, Inc. After Today’s Significant Increase?

Market Runner: Time to Buy BofI Holding, Inc. After Today's Significant Increase?

The stock of BofI Holding, Inc. (NASDAQ:BOFI) is a huge mover today! About 1.42 million shares traded hands or 42.81% up from the average. BofI Holding, Inc. (NASDAQ:BOFI) has declined 5.08% since April 8, 2016 and is downtrending. It has underperformed by 10.73% the S&P500.
The move comes after 8 months positive chart setup for the $1.48 billion company. It was reported on Nov, 10 by Barchart.com. We have $27.07 PT which if reached, will make NASDAQ:BOFI worth $355.20M more.

BofI Holding, Inc. (NASDAQ:BOFI) Ratings Coverage

Out of 6 analysts covering Bofl Holding Inc (NASDAQ:BOFI), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Bofl Holding Inc has been the topic of 11 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was downgraded by DA Davidson on Thursday, August 6 to “Neutral”. The company was upgraded on Thursday, October 15 by Sandler O’Neill. The rating was maintained by FBR Capital on Monday, November 23 with “Outperform”. Raymond James upgraded BofI Holding, Inc. (NASDAQ:BOFI) on Friday, September 4 to “Strong Buy” rating. The rating was upgraded by DA Davidson on Thursday, October 15 to “Buy”. The company was maintained on Friday, July 31 by FBR Capital.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 0.29, from 1.29 in 2016Q1. The ratio worsened, as 24 funds sold all BofI Holding, Inc. shares owned while 65 reduced positions. 19 funds bought stakes while 70 increased positions. They now own 58.06 million shares or 6.95% less from 62.39 million shares in 2016Q1.
Capstone Asset Management Company accumulated 0.01% or 24,866 shares. Massachusetts Financial Svcs Ma holds 0% of its portfolio in BofI Holding, Inc. (NASDAQ:BOFI) for 30,378 shares. Dimensional Fund Lp, a Texas-based fund reported 2.38 million shares. Moreover, Manufacturers Life Com The has 0% invested in BofI Holding, Inc. (NASDAQ:BOFI) for 40,402 shares. 1492 Cap Mngmt Lc has 228,429 shares for 3.63% of their US portfolio. Parametric Port Limited Liability Corp has invested 0% of its portfolio in BofI Holding, Inc. (NASDAQ:BOFI). The New York-based Highbridge Cap Mngmt Lc has invested 0.01% in BofI Holding, Inc. (NASDAQ:BOFI). Teachers Advsrs reported 96,185 shares or 0% of all its holdings. Blackrock Advsrs Ltd Company last reported 0% of its portfolio in the stock. Next Fincl Group holds 0% of its portfolio in BofI Holding, Inc. (NASDAQ:BOFI) for 156 shares. Earnest reported 3,600 shares or 0% of all its holdings. California State Teachers Retirement System accumulated 0% or 125,769 shares. Wasatch Advsr Incorporated last reported 366,171 shares in the company. Moreover, Credit Suisse Ag has 0% invested in BofI Holding, Inc. (NASDAQ:BOFI) for 66,591 shares. Cim Investment Mangement has invested 0.16% of its portfolio in BofI Holding, Inc. (NASDAQ:BOFI).

More notable recent BofI Holding, Inc. (NASDAQ:BOFI) news were published by: Fool.com which released: “Despite Market’s Reaction, BofI Holding, Inc. Really Did Have a Great Quarter” on November 01, 2016, also Fool.com with their article: “BofI Holding, Inc. Stock Up 10% on Continued Strong Earnings” published on August 03, 2016, Fool.com published: “Will BofI Holding, Inc. Deposit Another Quarter of Growth?” on July 30, 2016. More interesting news about BofI Holding, Inc. (NASDAQ:BOFI) were released by: Businesswire.com and their article: “BofI Holding, Inc. Issues Statement Regarding Share Price Volatility” published on April 18, 2016 as well as Businesswire.com‘s news article titled: “BofI Holding, Inc. Announces Acquisition of Equipment Leases and Operations of …” with publication date: April 04, 2016.

BOFI Company Profile

BofI Holding, Inc. (BofI), incorporated on July 6, 1999, is the holding firm 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. The Bank distributes its deposit products through a range of retail distribution channels, and its deposits consist of demand, savings and time deposits accounts. The Bank distributes its loan products through its retail, correspondent and wholesale channels, and the loans the Bank retains are primarily first mortgages secured by single family real property and by multifamily real property. The Company’s mortgage-backed securities consist primarily of mortgage pass-through securities issued by government-sponsored entities and non-agency collateralized mortgage obligations and pass-through mortgage-backed securities issued by private sponsors.

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