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Upgrade; "Oversold" Declaration Spark Internet Bank BofI

  +Follow March 28, 2014 11:20AM
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In a stock move that so far appears to be fueled entirely by analyst bullishness, shares of the BofI Holding Inc. (BOFI) rose significantly on March 28. Analysts on both the fundamental and technical side predicted room for growth for BofI, triggering a buying frenzy that sent shares up nearly 13 percent on the day.

Raymond James looks to have started the rally for BofI with their upgrade right before the bell, changing their rating from "market perform" to outperform while raising their price target to $88 a share. At approximately the exact same time, Zacks raised their own Full-year EPS estimates 6 cents a share to $3.74 apiece while calling the stock oversold, citing the company’s unusually low RSI of 29.9.

The separate votes of confidence from both a technical and fundamental perspective ignited the rush to buy in. As the Friday trading session passed midday 620,000 shares had traded hands, representing more than double the average volume amount.

BofI is a lender with an unusual business model. BofI, which stands for "Bank of Internet," operates out of a single branch in San Diego, opting to operate almost entirety online. While a lack of personnel can certainly have a negative affect a bank’s ability to provide customer service, BofI CEO Garry Garrabrants claims this model also saves the company a significant amount of overhead, allowing them to offer customers higher deposit interest and lower loan rates than traditional brick-and-mortar banks can.

While unusual, the $3.6 billion asset bank’s model is not completely unique, with Los Angeles’ 1st Century Bancshares (FCTY) also running a “virtual bank” from just two physical locations. But while 1st Century has been relatively slow the last twelve months, gaining only 11 percent during a regional bank renaissance, BofI has skyrocketed.

Shares of BofI are up 112.44 percent from a year ago. While the stock had nudged down a slight 2.03 percent in 2014, those gains were easily recuperated on Friday.

BOfI retreated slightly after climbing as much as 13 percent on the day, and by 1:20 EST shares had gained 12.22 percent to hit $86.23 a share.

 

 

 

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Results for BOFI
InvestWithConf
2 Sep 15 00:17:02
$BOFI is rated BUY, 28.7% upside by Wall Street analysts based on average ratings/targets http://t.co/cVSdKx17oi http://t.co/PTvJAw5UJW
Salvatore Bruno
1 Sep 15 18:46:38
RT @SA_Mergers: BofI closes purchase of H&R Block Bank http://t.co/uZD01nF9v6 $BOFI
NeO Intelligence
1 Sep 15 18:07:05
RT @SA_Mergers: BofI closes purchase of H&R Block Bank http://t.co/uZD01nF9v6 $BOFI
MoneyTrading
1 Sep 15 17:13:38
http://t.co/KSCi8ukPvV Trading profits of over $100,000 per year using this strategy! $GTS $PBY $BOFI $HQY
Capital Market Labs
1 Sep 15 17:08:50
Interactive Chart -> http://t.co/SmoaS59bsf $BOFI Revenue and Earnings are Growing. http://t.co/aftO5Urw2i
dailystockplays.com
1 Sep 15 15:15:55
Aroon Negative http://t.co/IcB3E2R6VR $JLL $CHE $BOFI $IFF $UPS $CHRW $PUK $CBG $CNXT $ZNH $DEI $BAH $QTWO $HAFC $ACET $STOR $NOAH $WIX
LloydCreekStocks
1 Sep 15 14:58:28
$BOFI H&R Block Plans $3.5 Billion Stock Buyback http://t.co/nOqrJEpRQk
ProVesting
1 Sep 15 13:50:02
$BOFI: New SEC Filing for BOFI: Form 8-K (No. 0001299709-15-000128): http://t.co/Y3SsY4J6mp
Company SEC Filings
1 Sep 15 13:49:21
NEW SEC Filing for $BOFI filed a moment ago: http://t.co/bwO0f3Qyf6 http://t.co/uit2fmhPC2
Sec Filings
1 Sep 15 13:46:13
$BOFI: BofI Holding, Inc. filed a form 8-K. http://t.co/oS7IszpXlk
Celan Bryant
1 Sep 15 13:37:57
Commented on: "A Bullish View On BOFI" http://t.co/qQkTx3xcsh $BOFI
LloydCreekStocks
1 Sep 15 13:37:54
$BOFI H&R Block Announces $3.5 Bln. Stock Buyback And Capital Structure Plans http://t.co/0LCy3Y88JE
Seeking Alpha
1 Sep 15 13:15:06
BofI closes purchase of H&R Block Bank http://t.co/fLmoB6Uuh1 $BOFI
Financial Stocks
1 Sep 15 13:15:05
BofI closes purchase of H&R Block Bank http://t.co/hTmxtlTLui $BOFI
M&A News
1 Sep 15 13:15:05
BofI closes purchase of H&R Block Bank http://t.co/uZD01nF9v6 $BOFI
Breaking News
1 Sep 15 13:15:05
BofI closes purchase of H&R Block Bank http://t.co/xasvv4EzPK $BOFI
Breaking News
1 Sep 15 13:01:07
$BOFI: BofI Holding, Inc. (NASDAQ:BOFI) Expected to Report $1.5: http://t.co/9AfE6F1gn7
InvestWithConf
1 Sep 15 12:56:02
$BOFI is rated BUY, 28.6% upside by Wall Street analysts based on average ratings/targets http://t.co/cVSdKx17oi http://t.co/IqDyVVfNHW
Financial Stocks
1 Sep 15 12:10:24
A Bullish View On BOFI http://t.co/rusdl4ungU $BOFI
Long & Short Ideas
1 Sep 15 12:10:24
A Bullish View On BOFI http://t.co/cUuiyr9bQi $BOFI
Seeking Alpha
1 Sep 15 12:10:23
A Bullish View On BOFI http://t.co/6zi78BZmqg $BOFI
Media Sentiment
1 Sep 15 11:09:31
$BOFI received a new alert. Find out why at http://t.co/nZwqRf3BRT #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 357
MarketBeatCom
1 Sep 15 11:07:18
Want the latest upgrades & downgrades for $BOFI $TNET $PERY $MAMS $CHRS? Checkout MarketBeat Daily http://t.co/nSJuDsYidj
TimeForGrowth
1 Sep 15 10:22:02
$BOFI: Wall Street analysts bullish on BOFI's earnings growth: http://t.co/G74Ao4C7S6 http://t.co/giYzFKc5Fk
Cody Freeman
1 Sep 15 10:03:47
Growth holding $BOFI likely triggering stops, close below 112.59. Been a great trend http://t.co/cV3deIusGv
clayton
1 Sep 15 09:24:21
BOFI 113.86 Bofi Holding $BOFI added to my watch list. Right now with BOFI I am watching the last price 113.86 http://t.co/BktA4M0SaL
MoneyTrading
1 Sep 15 07:49:07
http://t.co/KSCi8uCqnt Trading profits of over $100,000 per year using this strategy! $GTS $PBY $BOFI $HQY
Joe Cool
1 Sep 15 07:25:36
Out $BOFI 112.44 -9.4% $CFNL 21.77 -5.8% $EA 65.07 -7.7% $HAS 73.31 -5.9% $HOMB 37.47 -5.1% $ODFL 64.77 -11.6% $ZTS 44.38
Celan Bryant
1 Sep 15 07:21:40
Commented on: "The New York Times Has Only Scratched The Surface On BofI Holding..." http://t.co/xLsxpCd12s $BOFI
ProVesting
31 Aug 15 22:59:02
$BOFI: BofI Holding, Inc. Analyst Rating Update: http://t.co/FiwL0dMEaZ
Breaking News
31 Aug 15 17:15:03
$BOFI: New Insider Transaction on BOFI by EVP & Chief Financial Officer: http://t.co/FD6316b7kA
Insider Alerts
31 Aug 15 17:14:05
NEW insider transaction on $BOFI reported a moment ago: http://t.co/WeAnENpzGy
Bag Holder
31 Aug 15 12:15:26
"Yes, I have been following this company for many years and have had both long, short, and long-short positions along the way" $BOFI
BreakingStocksNews
31 Aug 15 10:11:03
$BOFI: BofI Holding, Inc. (NASDAQ:BOFI) Analyst Rating Update: http://t.co/Icaq1SMZrZ
Stocksguru99
31 Aug 15 09:35:26
Gains Over 2500% In one Trade.. Subscribe Here! http://t.co/n4FmW1UTLN .. $FTD $PNRA $BOFI
MoneyTrading
31 Aug 15 06:12:06
http://t.co/KSCi8uCqnt Do you have what it takes to trade with Tim Sykes? $GTS $PBY $BOFI $HQY
Shiraz Lakhi
31 Aug 15 05:51:36
Pre-Open Watchlist: Fridays Biggest VOLUME-BACKED %Decliners in FINANCIAL #Stocks $BBDO $FIG $MGYR $BOFI ++ Full List http://t.co/qqcEXzdD7i
Celan Bryant
31 Aug 15 05:23:02
Commented on: "The New York Times Has Only Scratched The Surface On BofI Holding..." http://t.co/xLsxpCd12s $BOFI
InvestWithConf
31 Aug 15 03:56:03
$BOFI is rated BUY, 19.7% upside by Wall Street analysts based on average ratings/targets http://t.co/cVSdKx17oi http://t.co/jNOqQ7u9l4
ProTradersNews
31 Aug 15 02:57:02
$BOFI: A Director at BofI Holding, Inc (NASDAQ: BOFI) is Selling Shares: http://t.co/ShUSZbgBv2
MoneyTrading
30 Aug 15 18:13:05
http://t.co/KSCi8uCqnt Do you have what it takes to trade with Tim Sykes? $GTS $PBY $BOFI $HQY
Consumer News
30 Aug 15 17:52:27
BofI Holding PT Raised to $130.00 at Keefe, Bruyette & Woods $BOFI http://t.co/6T1EERuaUq #acn
MoneyTrading
30 Aug 15 08:12:07
http://t.co/KSCi8uCqnt Trading profits of over $100,000 per year using this strategy! $GTS $PBY $BOFI $HQY
Capital Market Labs
29 Aug 15 21:42:51
7 Small/Mid Cap Banks with Great Fundamentals and Bullish Momentum $HOMB $BOFI http://t.co/8p63Frtk8t http://t.co/hqGM0Ot4MK
Options Answers
29 Aug 15 18:28:16
RT @DennyT14: BOFI BOFI Holdings Inc. Ask http://t.co/3gSsRZM7eH $BOFI $FV $LOGM $BCB.TO #BOFI #finance #stockmarket
lookn4wins
29 Aug 15 17:48:06
XFN.TO iShares CDN S&P/TSX Capped Financials Index Fund Tick http://t.co/PMlvjFdo5S $XFN.TO $GLD $BOFI $SDS #XFN.TO #stockmarket…
Rosner Stocks
29 Aug 15 17:44:32
SGMO Sangamo BioSciences, Inc. Tick http://t.co/k5Ogp86Wwh $SGMO $BOFI $APO $HIO #SGMO #stockmarket #tradeideas
Investors Hangout
29 Aug 15 17:42:03
JNK SPDR Barclays High Yield Bond ETF Volume http://t.co/2dIriUJ5TF $JNK $BOFI $CL $TSLA #JNK #stockmarket #share
nasdaqfan
29 Aug 15 17:39:03
EEM iShares MSCI Emerging Markets Filings http://t.co/KZAU35ptSd $EEM $BAC $IJR $BOFI #EEM #stocks #pennystocks
DennyT
29 Aug 15 17:34:09
BOFI BOFI Holdings Inc. Ask http://t.co/3gSsRZM7eH $BOFI $FV $LOGM $BCB.TO #BOFI #finance #stockmarket
				
				
  +Follow March 28, 2014 11:20AM
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