Pembroke Management Ltd Lowers stake in BofI Holding (BOFI)

BofI Holding (BOFI) : Pembroke Management Ltd reduced its stake in BofI Holding by 2.61% during the most recent quarter end. The investment management company now holds a total of 2,075,836 shares of BofI Holding which is valued at $39,482,401 after selling 55,600 shares in BofI Holding , the firm said in a disclosure report filed with the SEC on May 3, 2016.BofI Holding makes up approximately 3.73% of Pembroke Management Ltd’s portfolio.

Other Hedge Funds, Including , Municipal Employees’ Retirement System Of Michigan boosted its stake in BOFI in the latest quarter, The investment management firm added 4,840 additional shares and now holds a total of 16,360 shares of BofI Holding which is valued at $311,167. BofI Holding makes up approx 0.02% of Municipal Employees’ Retirement System Of Michigan’s portfolio. Tocqueville Asset Management added BOFI to its portfolio by purchasing 19,000 company shares during the most recent quarter which is valued at $387,030.First Mercantile Trust Co reduced its stake in BOFI by selling 2,418 shares or 7.79% in the most recent quarter. The Hedge Fund company now holds 28,603 shares of BOFI which is valued at $582,643. BofI Holding makes up approx 0.07% of First Mercantile Trust Co’s portfolio.Texas Permanent School Fund reduced its stake in BOFI by selling 1,561 shares or 3.29% in the most recent quarter. The Hedge Fund company now holds 45,872 shares of BOFI which is valued at $934,413. BofI Holding makes up approx 0.01% of Texas Permanent School Fund’s portfolio.

BofI Holding opened for trading at $18.55 and hit $18.87 on the upside on Tuesday, eventually ending the session at $18.72, with a gain of 1.03% or 0.19 points. The heightened volatility saw the trading volume jump to 16,96,879 shares. Company has a market cap of $1,180 M.

On the company’s financial health, BofI Holding reported $0.56 EPS for the quarter, based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus estimate of $0.56. The company had revenue of $92.90 million for the quarter, compared to analysts expectations of $96.87 million. The company’s revenue was up 57.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.35 EPS.

Many Wall Street Analysts have commented on BofI Holding. BofI Holding was Initiated by Craig Hallum to “Buy” on Apr 8, 2016.

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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