BOFI Results

Investment Analysis Clubs Saul’s Investing Discussions
#1

http://finance.yahoo.com/news/bofi-holding-inc-announces-rec…

SAN DIEGO, CA–(Marketwired - Oct 29, 2015) - BofI Holding, Inc. (NASDAQ: BOFI) (“BofI”), parent company of BofI Federal Bank (the “Bank”), today announced financial results for the first fiscal quarter ended September 30, 2015. Net income was a record $25.5 million, an increase of 42.9% over net income of $17.8 million for the quarter ended September 30, 2014. Earnings attributable to BofI’s common stockholders were $25.4 million or $1.60 per diluted share for the first quarter of fiscal 2016, an increase of 43.1% from $17.8 million or $1.20 per diluted share for the first quarter ended September 30, 2014.

Adjusted earnings, a non-GAAP measure, which excludes the after-tax impact of gains and losses associated with our securities portfolio, increased 38.1% to $25.5 million for the quarter ended September 30, 2015 compared to $18.5 million for the quarter ended September 30, 2014.

Ant

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#2

On the surface that sounds good, but the stock tanked today down 7.6% to about $93 - guess the CEO is really buy now :wink: (up 1% after hours)

http://stockcharts.com/freecharts/gallery.html?bofi

headlines 9:02 am BofI Holding beats by $0.09, beats on revs

MF article
http://www.fool.com/investing/general/2015/10/29/bofi-holdin… (Cowboy hat Jason Hall of CLNE and WPRT fame)

However, growth slowed a touch in a few, so there are some things that bear watching.
1. Earnings and book value per share continue to grow quick
2. Underwriting quality remains very high
3. Loan origination rate fell off in the quarter

Here’s the bottom line: A significant amount of BofI’s value – and the premium valuation of the stock – is tied to its incredible growth rate. Loan origination is a key measure of loan growth. The bank needs to consistently originate new loans not just to grow but to replace loans that are paid off over time.

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