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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
TimeForGrowth
5 Jul 15 02:17:07
$BOFI: Wall Street analysts bullish on BOFI's earnings growth: http://t.co/G74Ao4C7S6 http://t.co/BhRk8CrBz0
Stock Forums
4 Jul 15 12:51:07
XLI Industrials Select Sector SPDR Financials http://t.co/RWn8y3YuB3 $XLI $BOFI $YUM $WDFC #XLI #investing #finance
IH NASDAQ OMX
4 Jul 15 12:51:06
XLK Technology Select Sector SPDR Change http://t.co/qmdcE3jzGD $XLK $HAIN $TSLA $BOFI #XLK #invest #nasdaq
clayton
4 Jul 15 12:49:03
XLB Materials Select Sector SPDR Chart http://t.co/2HWgDdDVyT $XLB $VICL $BOFI $XLF #XLB #tradeideas #finance
danrocks
4 Jul 15 12:48:38
WBA Walgreens Boots Alliance, Inc. Ask http://t.co/6b0nINkjuM $WBA $IYY $FNMA $BOFI #WBA #invest #investing
jim50
4 Jul 15 12:47:03
TILE Interface, Inc. Stock Message Board http://t.co/4Sd7AgGGH5 $TILE $CMGO $BOFI $KBIO #TILE #investing #stock
danrocks
4 Jul 15 12:46:05
RSX Market Vectors Russia ETF Trust Shares http://t.co/JoXFoY1EcE $RSX $CYTX $MNST $BOFI #RSX #share #pennystocks
Investors Hangout
4 Jul 15 12:46:04
SHY iShares Barclays 1-3 Year Treasury Bond Fund Financials http://t.co/GGgyxHScTj $SHY $HH $BOFI $AFSI #SHY #nasdaq #invest
clayton
4 Jul 15 12:46:04
SPB Spectrum Brands Inc. Quotes http://t.co/dN2hYTWSe6 $SPB $COTY $AJRD $BOFI #SPB #invest #investing
Investors Hangout
4 Jul 15 12:45:20
RGDX Response Genetics, Inc. Day High http://t.co/WVn8if5mQN $RGDX $GREK $YUM $BOFI #RGDX #share #finance
lookn4wins
4 Jul 15 12:43:03
NURO Neurometrix Inc. Current Price http://t.co/QhqJbk5uuF $NURO $AHS $AB $BOFI #NURO #invest #investing
Investors Hangout
4 Jul 15 12:42:32
LQD iShares iBoxx Investment Grade Corporate Bond Fund Summary http://t.co/DXHQDDRH2b $LQD $TGNA $AMBA $BOFI #LQD #tradeideas…
DennyT
4 Jul 15 12:42:11
MRO Marathon Oil Financials http://t.co/OyklZjcXJ0 $MRO $PBMD $CRDC $BOFI #MRO #pennystocks #share
IH NASDAQ OMX
4 Jul 15 12:42:08
NBIX Neurocrine Biosciences, Inc. Tick http://t.co/Ix18Mifa89 $NBIX $KBIO $BOFI $KO #NBIX #tradeideas #stock
IH NASDAQ OMX
4 Jul 15 12:42:08
MYEC MyECheck, Inc. Ideas http://t.co/3sBmpU8oVG $MYEC $KBIO $BOFI $NSP #MYEC #share #pennystocks
jim50
4 Jul 15 12:42:06
MRK Merck & Co., Inc. Yield http://t.co/CZV9ijWsUn $MRK $FXI $HEB $BOFI #MRK #finance #stockmarket
jim50
4 Jul 15 12:41:06
LQD iShares iBoxx Investment Grade Corporate Bond Fund E.P.S. http://t.co/HhCCTeT15u $LQD $KBIO $BOFI $F #LQD #stocks #nasdaq
Jake13
4 Jul 15 12:40:34
INTC Intel Corp. EOD Data http://t.co/hD9eeUcUsh $INTC $THCZ $BOFI $EMC #INTC #tradeideas #stock
Stock_Tracker
4 Jul 15 12:39:34
IPCI Intellipharmaceutics International Inc. Message Board Posts http://t.co/hmxXp2oEXc $IPCI $BOFI $GLD $ENZN #IPCI #finance…
Investors Hangout
4 Jul 15 12:39:12
IMUC Immunocellular Therapeutics Ltd. Ex-Div Date http://t.co/jNnv6iZ4zw $IMUC $HEB $AET $BOFI #IMUC #finance #pennystocks
jim50
4 Jul 15 12:39:07
GREK Global X FTSE Greece 20 ETF Prev Close http://t.co/reohTxsYGx $GREK $XLI $BOFI $BGMD #GREK #stocks #investing
Emylers
4 Jul 15 12:39:06
HEB Hemispherx BioPharma, Inc. Bid Size http://t.co/XkFa1UPra5 $HEB $HNT $STEM $BOFI #HEB #tradeideas #stockmarket
leahanne
4 Jul 15 12:39:05
HD Home Depot, Inc. Ask Size http://t.co/tKTF3k86vK $HD $BOFI $XLY $LQMT #HD #tradeideas #nasdaq
nasdaqfan
4 Jul 15 12:39:04
HRTX Heron Therapeutics, Inc. Bid http://t.co/bK6jmbeJUM $HRTX $INFY $BOFI $IMUC #HRTX #invest #stock
danrocks
4 Jul 15 12:38:05
GDXJ Market Vectors Junior Gold Miners Chart http://t.co/PQs33CjZtC $GDXJ $TPI $LQD $BOFI #GDXJ #invest #stocks
jim50
4 Jul 15 12:37:33
FXI iShares FTSE China 25 Index Fund Investor Opinions http://t.co/GiuArpcLMc $FXI $BOFI $DIA $XOOM #FXI #nasdaq #investing
Rosner Stocks
4 Jul 15 12:37:33
FV First Trust Dorsey Wright Focus 5 ETF 52Wk High http://t.co/JJALzGghR3 $FV $BOFI $SCHW $TBT #FV #stockmarket #investing
PolgarStocks
4 Jul 15 12:37:06
FEYE FireEye Inc. Volume http://t.co/T9tB9ejxEH $FEYE $XLE $HACK $BOFI #FEYE #tradeideas #tradeideas
Investors Hangout
4 Jul 15 12:36:35
EMC EMC Corp. 52Wk High http://t.co/EiJ6OxSUy1 $EMC $ACGL $BOFI $FEYE #EMC #tradeideas #share
Rosner Stocks
4 Jul 15 12:36:13
DBA PowerShares DB Multi-Sector Commodity Trust Agriculture Fund E.P.S. http://t.co/0lRrrpDPMV $DBA $EEM $BOFI $XLU #DBA #stocks…
leahanne
4 Jul 15 12:36:12
DUG ProShares UltraShort Oil & Gas Ask http://t.co/kR0cDhuciU $DUG $DBA $BOFI $PSMT #DUG #share #finance
danrocks
4 Jul 15 12:35:06
CORN Teucrium Commodity Trust Corn Fund Shares http://t.co/fEHEl4FDv6 $CORN $EW $VICL $BOFI #CORN #share #share
Stock_Tracker
4 Jul 15 12:35:06
CUD.TO iShares S&P US Dividend Growers Index Fund Chart http://t.co/BZ6OW1HB3d $CUD.TO $IPCI $MYEC $BOFI #CUD.TO #finance #stockmarket
Stock_Tracker
4 Jul 15 12:34:35
BOFI BOFI Holdings Inc. Quotes http://t.co/P9MViqtD5I $BOFI $ACHC $GLD $SYRG #BOFI #finance #pennystocks
Stock_Tracker
4 Jul 15 12:34:06
BOFI BOFI Holdings Inc. Message Board Posts http://t.co/wy1Vn8Q3cb $BOFI $IPCI $KBIO $HELE #BOFI #investing #invest
clayton
4 Jul 15 12:34:05
BOFI BOFI Holdings Inc. Bid Size http://t.co/HobyxqnB9J $BOFI $ONCY $XLF $GREK #BOFI #stocks #nasdaq
Stock_Tracker
4 Jul 15 12:34:05
BOFI BOFI Holdings Inc. EOD Data http://t.co/h61UxBchM5 $BOFI $GREK $VPER $KBIO #BOFI #pennystocks #stocks
lookn4wins
4 Jul 15 12:34:05
BOFI BOFI Holdings Inc. Investor Opinions http://t.co/VyBUn4VHkl $BOFI $TRI $XOOM $ETRM #BOFI #tradeideas #investing
jim50
4 Jul 15 12:34:04
BOFI BOFI Holdings Inc. % Change http://t.co/amtMDXy5sa $BOFI $APA $MON $TPI #BOFI #finance #investing
clayton
4 Jul 15 12:34:03
BOFI BOFI Holdings Inc. Ask Size http://t.co/H0xxlnsL7k $BOFI $NFLX $DXCM $FV #BOFI #stock #tradeideas
Stock Forums
4 Jul 15 12:33:38
BOFI BOFI Holdings Inc. Short Sales http://t.co/UmqCZB1ixs $BOFI $T $IHS $LOW #BOFI #stock #stockmarket
IH NASDAQ OMX
4 Jul 15 12:33:38
BOFI BOFI Holdings Inc. Last Trade http://t.co/ZsLhb3DoNi $BOFI $RNN $XLY $EWC #BOFI #tradeideas #investing
Stock Forums
4 Jul 15 12:33:35
BOFI BOFI Holdings Inc. Short Sales http://t.co/d16KIrNLOf $BOFI $INTC $NEM $ASGN #BOFI #stock #stock
Jake13
4 Jul 15 12:33:35
BOFI BOFI Holdings Inc. Last Trade http://t.co/QaYMkz7ytL $BOFI $RDUS $XXII $XLB #BOFI #tradeideas #stockmarket
Emylers
4 Jul 15 12:33:34
ANAC Anacor Pharmaceuticals Inc. Ask Size http://t.co/SGEDVXz7NI $ANAC $RDUS $BOFI $OPXA #ANAC #nasdaq #stocks
Stock_Tracker
4 Jul 15 12:33:08
AMZN http://t.co/fAsmgI1Lyx, Inc. Message Board Posts http://t.co/sapLQuxzPP $AMZN $IBIO $BOFI $LOW #AMZN #tradeideas #invest
PolgarStocks
4 Jul 15 12:33:07
BOFI BOFI Holdings Inc. Chart http://t.co/Cpk3dC5nHT $BOFI $RGDX $PTN $ASGN #BOFI #stocks #stockmarket
Investors Hangout
4 Jul 15 12:33:05
AFSI AmTrust Financial Services, Inc. Exchange http://t.co/Fg6U72qdMx $AFSI $BOFI $XLF $EEM #AFSI #stockmarket #stock
Emylers
4 Jul 15 12:33:05
ALDR Alder Biopharmaceuticals Inc. Stock Message Board http://t.co/7s56wRnXTb $ALDR $HNSN $RXII $BOFI #ALDR #stockmarket #stocks
Stock Forums
4 Jul 15 12:31:37
ACUR Acura Pharmaceuticals, Inc. Ask Size http://t.co/Gzc09Ohotq $ACUR $CLTX $RDUS $BOFI #ACUR #stock #tradeideas
				
				
  +Follow March 28, 2014 11:20AM
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