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Pro-Trader Daily: Earnings Review and Free Research Report: BofI Holding's Q3 EPS Rose 11.1%; Outpaced Expectations

Research Desk Line-up: Bancorp Of New Jersey Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 22, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on BofI Holding, Inc. (NASDAQ: BOFI) ("BofI"), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=BOFI, following the Company's release of its financial results on September 30, 2017, for the first quarter of the fiscal year 2018. The San Diego, California-based Company's diluted earnings per share (EPS) rose 11.1% y-o-y, topping market forecasts. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

http://protraderdaily.com/register/

Get more of our free earnings reports coverage from other constituents of the Savings & Loans industry. Pro-TD has currently selected Bancorp Of New Jersey, Inc. (NYSE AMER: BKJ) for due-diligence and potential coverage as the Company reported on November 09, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Bancorp Of New Jersey when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on BOFI; also brushing on BKJ. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/'symbol=BOFI

http://protraderdaily.com/optin/'symbol=BKJ

Earnings Reviewed

During the quarter ended September 30, 2017, BofI's net interest income rose 15.4% to $80.55 million from $69.78 million in Q1 FY17. However, the Company's non-interest income fell 9.4% to $13.34 million in Q1 FY18 from $14.73 million in the year ago same quarter. Meanwhile, the non-interest expenses grew to $38.02 million during Q1 FY18 from $32.88 million in Q1 FY17.

The bank holding Company reported a record net income available to common stockholders of $32.31 million, or $0.50 per diluted common share, in Q1 FY18 compared to $28.82 million, or $0.45 per diluted common share, in Q1 FY17. Wall Street had expected the Company to report net income of $0.49 per diluted share. Moreover, the Company's adjusted earnings increased 14.0% to $32.31 million in Q1 FY18 from $28.33 million in Q1 FY17.

Earnings Metrics

During the reported quarter, the bank's return on average assets was 1.54% versus 1.53% in the prior year's comparable quarter. The return on average common stockholders' equity came in at 15.24% in Q1 FY18 compared to 16.59% in Q1 FY17. For Q1 FY18, the bank holding Company's efficiency ratio was 40.49% compared to 38.90% in Q1 FY17, while net interest margin increased to 3.87% in the reported quarter from 3.78% in Q1 FY17. The Company had an interest rate spread of 3.62% in Q1 FY18 compared to 3.61% in Q1 FY17.

The Company's allowance for loan and lease losses was $42.10 million, or 0.55% of total loans and leases, at September 30, 2017, compared to $37.60 million, or 0.57% of total non-purchased loans and leases, at September 30, 2016. Furthermore, allowance for loan and lease losses to non-performing loans and leases ratio was 131.15% as on September 30, 2017, compared to 89.45% as on September 30, 2016.

Balance Sheet

BofI's loans and leases, net of allowance for loan and lease losses, increased to $7.51 billion during quarter ended September 30, 2017, from $6.55 billion in Q1 FY17. Furthermore, the bank had total assets worth $8.58 billion as on September 30, 2017, up 9.2% from $7.86 billion as on September 30, 2016.

Furthermore, the Banks's non-performing assets to total assets was 0.39% as on September 30, 2017, compared to 0.55% as at the end of last year's corresponding quarter. Furthermore, total non-performing assets as on September 30, 2017, was $33.49 million compared to $29.81 million as on June 30, 2017.

Stock Performance

At the closing bell, on Tuesday, November 21, 2017, BofI Holding's stock marginally slipped 0.16%, ending the trading session at $25.66. A total volume of 510.93 thousand shares have exchanged hands. The Company's stock price surged 16.11% in the past six months and 9.19% in the previous twelve months. The stock is trading at a PE ratio of 12.27 and currently has a market cap of $1.59 billion.

Pro-Trader Daily:

Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles, and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email contact@protraderdaily.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: contact@protraderdaily.com

Phone number: (917) 341.4653

Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Pro-Trader Daily

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