BofI Holding (BOFI) 'Way Oversold', FBR Capital Says

FBR Capital analyst Bob Ramsey reiterated his Outperform rating and $132 price target on BofI Holding (NASDAQ: BOFI) following yesterday's ~30% sell-off following a NY Times hit piece. He notes the company addressed shareholder concerns and previewed a strong quarter. He sees the weakness as a buying opportunity.

Ramsey commented, "We reiterate our Outperform rating on BofI Holding (BOFI) and consider the ~30% sell-off on Wednesday a significant buying opportunity. The sell-off reflected a New York Times article and the referenced lawsuit by a disgruntled employee, which alleged BOFI of corner cutting, business with high-risk customers, money laundering, tax evasion, and deception. BOFI took to the offensive with a conference call to discuss the issues raised in the lawsuit. In our opinion, the company did a great job addressing investor concerns. Further, the company indicated results in the September quarter will be very strong."

For an analyst ratings summary and ratings history on BofI Holding click here. For more ratings news on BofI Holding click here.

Shares of BofI Holding closed at $99.13 yesterday.

You May Also Be Interested In

• Primerica (PRI) Mentioned Cautiously at Bear Cave
• Pfizer (PFE) drops to 11-year lows
• CSX Corp. (CSX) Shares Trade Lower Ahead of Results, Down 2.2%