Connors Investor Services Inc. increased its position in shares of BofI Holding, Inc. (NASDAQ:BOFI) by 121.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 136,274 shares of the financial services provider’s stock after purchasing an additional 74,638 shares during the period. Connors Investor Services Inc. owned approximately 0.21% of BofI Holding worth $3,232,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of BofI Holding 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 period. Vanguard Group Inc. boosted its position in BofI Holding by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,550,221 shares of the financial services provider’s stock valued at $131,652,000 after buying an additional 122,322 shares during the period. State Street Corp boosted its position in BofI Holding by 8.4% in the 1st quarter. State Street Corp now owns 1,380,816 shares of the financial services provider’s stock valued at $36,079,000 after buying an additional 106,592 shares during the period. Bank of New York Mellon Corp boosted its position in BofI Holding by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 993,233 shares of the financial services provider’s stock valued at $23,560,000 after buying an additional 24,314 shares during the period. Finally, Northern Trust Corp boosted its position in BofI Holding by 3.4% in the 2nd quarter. Northern Trust Corp now owns 823,146 shares of the financial services provider’s stock valued at $19,525,000 after buying an additional 27,080 shares during the period. 88.22% of the stock is owned by hedge funds and other institutional investors.
BofI Holding, Inc. (NASDAQ:BOFI) traded up 1.46% during midday trading on Friday, reaching $27.07. 188,607 shares of the company’s stock traded hands. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 13.08 and a beta of 0.40. BofI Holding, Inc. has a 1-year low of $17.95 and a 1-year high of $32.57. The firm’s 50-day moving average is $26.66 and its 200-day moving average is $25.24.
Several equities research analysts have issued reports on the stock. BidaskClub raised shares of BofI Holding from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 11th. ValuEngine cut shares of BofI Holding from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 24th. Zacks Investment Research raised shares of BofI Holding from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, DA Davidson reissued a “buy” rating and issued a $33.00 price objective on shares of BofI Holding in a research report on Monday, June 12th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $31.50.
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BofI Holding 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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