According to Jay Drew of the Salt Lake Tribune, a source revealed that Davies was dismissed after he admitted to having a sex with his girlfriend.
Davies is said to be "extremely remorseful" and "heartbroken" over the situation and he's accepted the punishment. Among other things, the honor code forbids students from engaging in premarital sex, and admonishes them to "live a chaste and virtuous life."
BYU spokeswomen Carri Jenkins reportedly said that the Honor Code Office is reviewing the situation and will determine Davies' future with the school.
Davis was averaging 11.1 points and a team-high 6-2 rebounds per game. The Cougars are currently the No. 3 ranked team in the country.