Compass Point Initiates Coverage on BofI Holding to Buy

Compass Point Initiates Coverage on BofI Holding(NASDAQ:BOFI). The shares have been rated Buy. The rating by Compass Point was issued on Sep 27, 2016.

BofI Holding (BOFI) made into the market gainers list on Fridays trading session with the shares advancing 0.90% or 0.2 points. Due to strong positive momentum, the stock ended at $22.4, which is also near the day’s high of $22.65. The stock began the session at $22.21 and the volume stood at 7,68,403 shares. The 52-week high of the shares is $35.98 and the 52 week low is $13.47. The company has a current market capitalization of $1,417 M and it has 6,32,70,115 shares in outstanding.

BofI Holding(BOFI) last announced its earnings results on Aug 2, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $69.16M. Analysts had an estimated revenue of $70.06M. Earnings per share were $0.46. Analysts had estimated an EPS of $0.47.

Several Insider Transactions has been reported to the SEC. On Sep 1, 2016, Mosich Nick (director) purchased 2,000 shares at $21.79 per share price.Also, On Feb 22, 2016, James John Court (director) purchased 2,000 shares at $16.76 per share price.On Feb 12, 2016, Andrew J Micheletti (CFO) purchased 1,000 shares at $13.69 per share price, according to the Form-4 filing with the securities and exchange commission.

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 distribution channels and affinity partners. The Bank has deposit and loan customers across the nation 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.

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