Andrew Micheletti (Insider Trades), executive vice president and CFO of BofI Holding Inc. (BOFI), bought 1,000 shares of the company on Feb. 11. The average price per share was $13.69 for a total transaction cost of $13,690. BofI Holding Inc. is the holding company of BofI Federal bank, which provides financing for single and multifamily residential properties, small-to medium size businesses and specialty finance receivables. BofI Holding has a market cap of $917.12 million and a P/S ratio of 3.26.
From 2013 to 2015, insider buys of BOFI increased in both volume and number per year. There was just one insider buy of 2,400 shares in 2013, and five buys totaling 36,700 shares in 2015. The number of insider sells remained at five or six each year during this time period, but the total number of shares sold per year nearly halved in 2015 when compared to 2013. Micheletti only made one insider buy with the company since 2013, but sold a total of 128,000 shares in two transactions during the same time. His earliest sell of 52,000 shares at an average per share price of $35.10 increased in price by more than 60%. 
The increase in number and volume of insider trades correlates to a decrease in month end price in the last half of 2015 and the beginning of 2016. For more information about insider transactions with BofI Holding Inc., click here.
The company reported net income of $28.071 million in the fiscal second quarter ended on Dec. 31, 2015. Net income is up 45.3% from $19.294 million in the fiscal second quarter of 2014. Net income per diluted share also increased 12 cents from 32 cents during the same time period. BofI CEO Greg Garrabrants said that the company’s “strong performance reflects the resilience of our business model and the focus of our employees.” He continued by stating that the company sees, “tremendous opportunities to expand geographically and to adjacent market segments” in small balance commercial real estate and C&I lending, two sectors that were integral in accelerating the business. Both annual revenue and annual net income increased over 30% since 2011 and continues to follow an increasing trend line. 
BofI Federal Bank, a national bank subsidiary of BofI Holding, announced a partnership with H&R Block on Dec. 22, 2015. The partnership will allow qualified borrowers to get access to up to $1,000 loaded on an H&R Block Emerald Prepaid Mastercard, in a program called H&R Block Emerald Advance.
According to GuruFocus.com information, BofI Holding has a business predictability rank of 4 out of 5 stars. For more information about business predictability rank, click here.
Jim Simons (Trades, Portfolio) increased his stake in the company in the fourth quarter of 2015 by 7.93%. Simons purchased 91,300 shares of the company for an average price of $23.47 per share. The total estimated gain of the holding since the first quarter of 2011 is 59%. For more information about guru transactions with BofI Holding Inc., click here.
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