OnDeck's Implosion May Soon Engulf BofI
Aurelius • 32 Comments
Aurelius • 32 Comments
Thu, Aug. 25, 3:50 PM
Thu, Aug. 25, 1:00 PM
Wed, Aug. 3, 10:04 AM
- FQ4 earnings of $29.7M or $0.46 per share vs. $24.3M and $0.39 one year ago.
- Net interest income of $69.2M up 25.1% Y/Y.
- Noninterest income of $17M up 65.5%. Noninterest expense of $33M up 58%.
- Loan and lease portfolio up 28.9% to $1.43B. Deposits up 35.8% to $1.6B. Loan and lease loss provision of $1.9M down from $2.9M.
- Tangible book value of $10.67 per share up $2.19 Y/Y.
- Previously: BofI Holding EPS and revenue in-line (Aug. 2)
- BOFI +5.75%
Wed, Aug. 3, 9:15 AM
- Gainers: SZMK +45%. KOOL +43%. INVT +26%. GNW +23%. ZAGG +14%. OCLR +12%. FIT +9%. BOFI +8%. ING +8%. TRXC +8%. ETP +7%. FCAU +6%. ETSY +6%. ZTS +6%.
- Losers: RUBI -29%. DRWI -20%. CRAY -20%. VGZ -19%. KATE -18%. CYH -17%. CROX -17%. ELGX -11%. FTAI -9%. QRVO -8%. SHIP -6%. COH -6%. RGC -6%. HBI -6%. KORS -6%. INO -5%.
Tue, Aug. 2, 4:10 PM
Wed, Jul. 13, 1:00 PM
Thu, Apr. 28, 12:17 PM
- FQ3 net income of $35.8M or $0.56 per share vs. $21M and $0.34 one year ago.
- Net interest income up 37.3% to $69.6M thanks to the H&R Block purchase. NIM would have been 4.02% when excluding the H&R-related products, which is consistent with previous quarters.
- Noninterest income up 178.7% to $23.3M thanks to the H&R Block deal.
- Tangible book value of $10.23 per share, up $2.21 from a year ago.
- Conference call at 4:30 ET
- Previously: BofI Holding EPS in-line, beats on revenue (April 28)
- BOFI +4.8%
Mon, Apr. 18, 11:51 AM
- The so-called "recent" lawsuit is old news, says BofI Holding (BOFI +10.8%), and dates from October when "repeat player" strike suit attorneys filed a securities class action against BofI.
- "The amendment adds some unsubstantiated stories from 'confidential' ex-employees mostly criticizing and complaining about the alleged lack of manners of their managers," says BofI.
- Source: Press Release
- Now read: The Walls Are Closing In On The Branchless Bank (April 14)
Thu, Apr. 14, 12:45 PM
Thu, Apr. 14, 10:42 AM
- The Friendly Bear renews an attack on BofI Holding (BOFI -13.1%), noting a recently filed securities fraud lawsuit showing more former bank employees coming forward with new allegations.
- Bulls have previously taken comfort in thinking just one employee has alleged wrongdoing at BofI, says The Friendly Bear, but this new filing suggests nearly one dozen former workers have provided investigators with new evidence against the bank.
- Now read: Why BOFI Created A Phantom 'Full Service Branch' In The Nevada Desert
Mon, Mar. 21, 9:40 AM| Mon, Mar. 21, 9:40 AM | 10 Comments
Thu, Jan. 28, 2:49 PM
- FQ2 net income of $28.1M or $0.44 per share vs. $19.3M and $0.32 one year ago.
- Net interest income of $63.17M up 31.3% Y/Y.
- Noninterest income of $16.22M up 142% Y/Y, mostly thanks to the H&R Block purchase.
- Noninterest expense of $27.4M up 45% Y/Y.
- Total assets up 28.2% to $6.66B. Loan portfolio up 31.2%. Loan originations up 50.4% to $1.623B. Deposits up 29.8%.
- NPAs to total assets of 0.40%. NPLs of 0.46%.
- Tangible book value per share of $9.60 up $2.20 from one year ago.
- Previously: BofI Holding beats by $0.02, misses on net interest income (Jan. 28)
- BOFI +0.9%, but down quite a bit from the post-earnings session high.
Nov. 18, 2015, 12:47 PM
Nov. 3, 2015, 12:51 PM
- A read of a Friday court filing from BofI Holdings (BOFI +12.8%) confirms regulators have not expressed any concerns regarding wrongdoing allegations by an ex-auditor at the bank, finds Seeking Alpha author Special Situations Trader.
- The filing is especially important given similar sentiments expressed by CEO Greg Garrabrants on a conference call two weeks ago, which somehow didn't show up in the transcript filed with the SEC.
- At issue, says the author, are Federal regulations on what bank executives can say about non-public regulatory investigations. BofI's lawyers could have felt the CEO's remarks fell into a grey area, and thought it best to have a discrepancy between the call and the transcript, rather than compound the issue in an 8-K.
Oct. 29, 2015, 9:59 AM| Oct. 29, 2015, 9:59 AM | 8 Comments
Oct. 23, 2015, 8:40 AM
- BofI Holding (NASDAQ:BOFI) has fallen hard and can't get up following a lawsuit this month by former internal auditor at the company Matt Erhart alleging "egregious" wrongdoing.
- This week, the bank countersued Erhart, alleging fraud (via SA member dieuwer).
- Previously: BofI Holdings, -30%, hosting call to discuss day's news (Oct. 14)
- Previously: BofI tumbles as ex-auditor sues (Oct. 14)
BofI Holding, Inc. operates as a holding company, which engages in the management of internet-based savings bank. It operates through the following segments: Mortgage, Home Equity, Warehouse & Other, Multi-family Real Estate, Commercial Real Estate, Auto and RV, Factoring, Commercial &... More
Industry: Savings & Loans
Country: United States