BOFI down a bit today

BofI down more than 10% as sell-side cuts estimates

BofI Holdings (NASDAQ:BOFI) reported an inline quarter, but Sandler O’Neill’s Andrew Liesch notes slower loan growth, less gain on sale revenue, and higher provisions in H&R Block-related loans. He cuts his 2017 EPS estimate to $2.10 from $2.25 and 2018 to $2.70 from $2.90. The price target is trimmed to $33 from $36. He still rates the stock a Buy.
Citing fee income headwinds, D.A. Davidson’s Gary Tenner (also a bull on the stock) cuts his 2017 EPS estimate to $2.10 from $2.13 and 2018 to $2.40 from $2.45. The new price target is $33 from $34.

https://seekingalpha.com/news/3259985-bofi-10-percent-sell-s…

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On the plus side FBR reiterates outperform rating with a 35 price target. They say profitability remains best in class with 1.9% ROI,21.4% ROTCE and 32% efficiency. Trading at 11xs FY18 estimates “remains one of the most attractive stocks in coverage on relative valuation”. Thier FY17 est are 2.07 and FY18 2.40.

Rob

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FBR? Could you give me the whole name. I can’t seem to find a bank with that ticker.

Andy

FBR? Could you give me the whole name. I can’t seem to find a bank with that ticker.

Robert Hutcheson Ramsey

FBR Capital Markets & Co., Research Division - VP and Analyst

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FBR= Friedman, Billings and Ramsey.

Rob

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Ok thanks ticker is FBRC

http://www.snl.com/IRW/file/4142131/Index?KeyFile=2000133524…

Andy

Thanks Darrell.

Andy