BofI Holding, Inc. (NASDAQ:BOFI)

CAPS Rating: 5 out of 5

A holding company for Bank of Internet USA that provides consumer banking services, focusing on gathering retail deposits over the Internet and originating and purchasing multifamily, single-family and home equity mortgage loans.

Recs

5
Player Avatar TMFInnovator (39.41) Submitted: 6/24/2013 1:01:24 PM : Outperform Start Price: $44.20 BOFI Score: +41.77

I think this might have been the dip I've been waiting for.

BOFI is still not cheap, but it's got a lot more potential than traditional banks. Their online business model means they can avoid the electric bill of retail branches, which allows them to pass down cost savings via fewer fees and higher interest rates. BOFI's deposit base is growing 3X faster than the aggregate of all commercial banks and is underfollowed by Wall Street.

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