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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
Lightspeed
28 Jul 15 12:19:32
Call/Put Highest % volume changes: CALLS $IR, $GSAT, $AMAT, $CCE, $AKAM PUTS $GRUB, $NCR, $MT, $BOFI, $CXO
Capital Market Labs
27 Jul 15 10:21:06
Interactive Chart -> http://t.co/ueVkyGh2cy $BOFI Assets are Expanding. http://t.co/LiKnlhuyaI
BreakingStocksNews
26 Jul 15 20:13:05
$BOFI: Company Shares of BofI Holding, Inc. Rally 0.01%: http://t.co/lGi3KJZmEY
BuysideLSanalyst
26 Jul 15 19:22:09
@terrytrading @AlderLaneeggs @BrattleStCap Can't the same be said for $BOFI???
Capital Market Labs
26 Jul 15 14:29:16
Interactive Chart -> http://t.co/5MgKV5g2Ok $BOFI Operating Margin is Growing. http://t.co/zB2OjNDdLn
StockEarnings.com
26 Jul 15 13:31:12
$BOFI Since last ER, stock gained 24%. Will it continue aftr ER on 7/30 Before Open (Confirmed)? http://t.co/xNvdOuCMmy
Capital Market Labs
26 Jul 15 11:52:58
Interactive Chart -> http://t.co/rtU8sD4ZMu $BOFI Earnings are Growing. http://t.co/u3VK4BfQYn
Capital Market Labs
26 Jul 15 11:44:56
Interactive Chart -> http://t.co/Upw7F6kFNY $BOFI Revenue is Expanding. http://t.co/4mCE6SayjW
Capital Market Labs
25 Jul 15 15:01:40
Interactive Chart -> http://t.co/rD884HTo29 $BOFI Revenue and Earnings are Expanding. http://t.co/rzRjBh2AK9
Ophir Gottlieb
25 Jul 15 08:13:06
10 Mid Cap Banks with Great Fundamentals and Bullish Momentum $IBKC $BXS $FNB $WAFD $SSB $BOFI http://t.co/qgQ6DLu79I http://t.co/kbY0toFTYa
Capital Market Labs
25 Jul 15 08:06:19
Interactive Chart -> http://t.co/rtU8sD4ZMu $BOFI Earnings are Growing. http://t.co/wiQHiulYzK
Capital Market Labs
24 Jul 15 18:12:31
10 Mid Cap Banks with Great Fundamentals and Bullish Momentum $IBKC $BXS $FNB $WAFD $SSB $BOFI http://t.co/8PjudO9eXn http://t.co/Y9zf0YQuk7
stockeye
24 Jul 15 13:19:12
$BOFI TRAILING STOP #5 = 91.22 http://t.co/4642re7a6r
Capital Market Labs
24 Jul 15 11:42:16
Interactive Chart -> http://t.co/69U9ZlQDLI $BOFI Assets and Earnings are Increasing. http://t.co/EW8RjB9CiI
Capital Market Labs
24 Jul 15 09:16:17
Interactive Chart -> http://t.co/rD884IaYTH $BOFI Revenue and Earnings are Increasing. http://t.co/qF3PGEVd2L
dailystockplays.com
23 Jul 15 19:47:27
Bearish Engulfing http://t.co/pnbYI0LioX $AMZN $AMG $HSIC $VDC $SKX $BOFI $IYG $OCR $YCS $ICF $IYF $RXI $VMC $ARE $RRGB $RCL $PJP $TREE
Capital Market Labs
23 Jul 15 14:23:44
Interactive Chart -> http://t.co/ueVkyGyD46 $BOFI Assets are Growing. http://t.co/mbooO3QfiO
Capital Market Labs
23 Jul 15 12:53:06
Interactive Chart -> http://t.co/rtU8sDmAE2 $BOFI Earnings are Improving. http://t.co/4JU15xrPo4
Livevol Community
23 Jul 15 09:00:05
HIGH PUT VOLU $SXE 2511% $NFG 2479% $HST 2418% $CB 1917% $FTK 1597% $HK 1574% $LLTC 1477% $BOFI 897% http://t.co/gwzPxh5Y4R
TimeForGrowth
22 Jul 15 21:10:02
$BOFI: Wall Street analysts bullish on BOFI's earnings growth: http://t.co/G74Ao4C7S6 http://t.co/He7RWEieAF
Capital Market Labs
22 Jul 15 15:07:04
Interactive Chart -> http://t.co/5MgKV5g2Ok $BOFI Operating Margin is Growing. http://t.co/iBsCKELIZS
Capital Market Labs
22 Jul 15 14:44:06
10 Mid Cap Banks with Great Fundamentals and Golden Cross $BOFI $NPBC $CBU $WSBC $LTXB http://t.co/AFTzvicQSi http://t.co/MvwNeQbcjo
Cody Freeman
22 Jul 15 12:34:21
Fins really working: $WFC $BOFI $ISBC $HOMB $SIVB $AIG $GS ($C $BAC $JPM no pos) $XLF http://t.co/TzAiTxJ7Kr
Bill Gunderson
22 Jul 15 12:12:49
$BOFI continues to sizzle. #137 overall. I reamin long.
Hugo Phillipps
22 Jul 15 11:21:11
$bofi even stronger than biotechs. Great winner since $94 entry
Kevin F.
22 Jul 15 11:02:24
$BOFI $HAWK - best of breed in $XLF leading us up
Capital Market Labs
22 Jul 15 08:01:15
Interactive Chart -> http://t.co/69U9Zlz2Ua $BOFI Assets and Earnings are Growing. http://t.co/WANbecf6SE
EQLiveTrader
22 Jul 15 06:36:38
Top 15 Stocks Today $SKX $DEPO $BOFI $ABMD $GPRO $TXTR $ARES $DZZ $CRM $SERV $COT $FNBC $CSGP $RNR $CYNO
howardlindzon
21 Jul 15 21:41:58
Greg Garrabrants the amazing CEO of Bank of the Internet $BOFI will be a great fireside chat at our #stocktoberfest http://t.co/dlOb9R9m8f
BuysideLSanalyst
21 Jul 15 11:55:32
RT @tysoncapllc: @LoganFrederick Good work on the $BOFI follow-up. Only part you are missing is that the borrowers are all HIGHLY SUSPECT
LloydCreekStocks
21 Jul 15 08:53:38
$BOFI Zions Earnings Beat Estimates, Revenues Remain Strained - Analyst Blog http://t.co/rB8MK82ngx
Gennady Kupershteyn
21 Jul 15 08:46:40
Recent trading ideas on the move: $MDXG $LEN $BOFI $ULTA $LEN $GTN $AGN $ACT $FB $TNK $FLY $JAZZ Review http://t.co/Yoe1j7gwhN -- $SPY $QQQ
Capital Market Labs
21 Jul 15 02:37:24
10 Mid Cap Banks with Great Fundamentals and Golden Cross $BOFI $NPBC $CBU $WSBC $LTXB http://t.co/AFTzvhVftI http://t.co/E2aNNHepwS
Hugo Phillipps
21 Jul 15 01:21:30
$Bofi just doesn't stop
Capital Market Labs
21 Jul 15 00:32:15
10 Mid Cap Banks with Great Fundamentals and Golden Cross $BOFI $NPBC $CBU $WSBC $LTXB http://t.co/AFTzvicQSi http://t.co/5Ay9tfeNsW
Mike Tyson
20 Jul 15 18:53:08
@LoganFrederick Good work on the $BOFI follow-up. Only part you are missing is that the borrowers are all HIGHLY SUSPECT
Mike Tyson
20 Jul 15 18:26:04
RT @erickerr: Shorting the Bank of Internet $BOFI http://t.co/apXDlhrBqe by @LoganFrederick
Eric Kerr
20 Jul 15 16:38:45
Shorting the Bank of Internet $BOFI http://t.co/apXDlhrBqe by @LoganFrederick
Capital Market Labs
20 Jul 15 15:06:07
10 Mid Cap Banks with Great Fundamentals and Golden Cross $BOFI $NPBC $CBU $WSBC $LTXB http://t.co/AFTzvicQSi http://t.co/Uol5odlcsH
Capital Market Labs
20 Jul 15 13:46:46
Interactive Chart -> http://t.co/5MgKV4YrWM $BOFI Operating Margin is Growing. http://t.co/cPmEVzNkUQ
Νιcholaς
20 Jul 15 13:04:53
"@ZenTrends: New 52-Week highs today: $FB $BMY $BOFI $SIVB $DATA $VRTU $AMWD $MD $KR $CVS $SBUX $DIS $AMZN http://t.co/j0DbqjViEO"
Cody Freeman
20 Jul 15 13:04:01
New 52-Week highs today: $FB $BMY $BOFI $SIVB $DATA $VRTU $AMWD $MD $KR $CVS $SBUX $DIS $AMZN http://t.co/mCKhu9xXTh
Mike Tyson
20 Jul 15 10:27:17
$DDD chart nice reminder to keep the faith alive in highest conviction shorts. $BOFI up next. @ActivistShorts http://t.co/bPI4JsbfEh
Capital Market Labs
20 Jul 15 06:30:44
Interactive Chart -> http://t.co/Upw7F6kFNY $BOFI Revenue is Growing. http://t.co/y4MMizWFLn
				
				
  +Follow March 28, 2014 11:20AM
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