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5 Lean and Mean Bank Stocks

4. BOFI Holding, Inc.

Shares of BOFI Holding (BOFI) of San Diego closed at $64.72 Friday, returning 133% this year.

The shares trade for 3.4 times their reported June 30 tangible book value of $19.16, and for 15.3 times the consensus fiscal 2015 EPS estimate of $3.68. The consensus 2014 EPS estimate is $3.68. The company's fiscal 2013 ended on June 30.

The company's efficiency ratio for the 12-months ended June 30 was 40.73%, while its ROA was 1.46% and its ROTCE was 16.87%.

BOFI Holding had $3.1 billion in total assets as of June 30. Its main subsidiary BOFI Federal Bank gathers deposits through its Bank of Internet USA Web site. The company on Sept. 9 announced it had completed the purchase of $173 million in deposits from Principal Bank.

After the company reported a 35% year-over-year increase in fiscal fourth-quarter earnings available to common shareholders of $11.1 million, or 78 cents a share, KBW analyst Juliana Balicka on Aug. 15 reiterated her "market perform" rating for BOFI Holding, while increasing her price target for the shares to $64 from $48. Balicka raised her fiscal 2014 EPS estimate to $3.60 from $3.05 and introduced a fiscal 2015 EPS estimate of $3.90.

In a note to clients Balicka wrote that "In 2014, we think that expense growth will moderate and that revenue will continue to ramp from the new initiatives. For example: [commercial and industrial] healthcare finance -- very strong pipeline growth plus associated fee income; structured settlement sales to the secondary market -- a new exit for an older loan product and source of recurring fee income."

"The bank is targeting a 40% efficiency in the intermediate term and 35% in the long-term as new business growth settles out," she added.

BOFI ChartBOFI data by YCharts

Interested in more on BOFI Holding, Inc.? See TheStreet Ratings' report card for this stock.

Stock quotes in this article: BAC, WFC, DFS, PB, SBNY, ORIT, BOFI 

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