BofI Holding, the parent company for BofI Federal Bank, reported net income was $14.6 million, an increase of 40.5% over the $10.4 million reported for the same quarter the previous year.
BofI's earnings attributable to common stock holders grew 44.6% to $14.5 million, or $1.00 per diluted share, compared to $10.1 million, or 74 cents per diluted share from the 2013 third quarter.
Must Read: Warren Buffett's 10 Favorite Growth Stocks
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
The company saw a 47.1% rise in non-GAAP core earnings to $15.0 million for the 2014 third quarter versus $10.2 million from the year ago quarter.
TheStreet Ratings team rates BOFI HOLDING INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate BOFI HOLDING INC (BOFI) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, expanding profit margins, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- The revenue growth came in higher than the industry average of 2.0%. Since the same quarter one year prior, revenues rose by 17.5%. Growth in the company's revenue appears to have helped boost the earnings per share.
- The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Thrifts & Mortgage Finance industry and the overall market, BOFI HOLDING INC's return on equity exceeds that of both the industry average and the S&P 500.
- The gross profit margin for BOFI HOLDING INC is currently very high, coming in at 79.90%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 28.12% significantly outperformed against the industry average.
- BOFI HOLDING INC has improved earnings per share by 30.0% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, BOFI HOLDING INC increased its bottom line by earning $2.89 versus $2.34 in the prior year. This year, the market expects an improvement in earnings ($3.73 versus $2.89).
- The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and greatly outperformed compared to the Thrifts & Mortgage Finance industry average. The net income increased by 34.7% when compared to the same quarter one year prior, rising from $9.77 million to $13.15 million.
- You can view the full analysis from the report here: BOFI Ratings Report
Check Out Our Best Services for Investors
Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Check Out Our Best Services for Investors
Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.