BofI Holding, Inc.
) achieved a new 52-week high, reaching $87.36 in the second half
of the trading session on Feb 18. Notably, the stock closed the
session at $86.80, which reflects a solid year-to-date return of
14.3%. The trading volume for the session was 0.2 million shares.
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Despite the strong price appreciation, this Zacks Rank #2 (Buy)
stock has plenty of upside left, given its strong estimate
revisions over the last 30 days.
Impressive fiscal second-quarter 2014 (ended Dec 31) results that
reflected an earnings surprise of 6.7%, along with improvement in
loan and deposit balances were the primary growth drivers for
On Feb 5, BofI Holding reported fiscal second-quarter results.
The company's core earnings of 96 cents per share outpaced the
Zacks Consensus Estimate of 90 cents and were also higher than
the year-ago quarter figure of 73 cents. Results benefited from a
rise in net interest income and lower provision for loan losses,
partially offset by a fall in non-interest income and higher
Estimate Revisions Show Potency
Over the last 30 days, 2 out of 3 estimates for fiscal 2014 have
been revised upward, lifting the Zacks Consensus Estimate by
roughly 2.4% to $3.77 per share. For fiscal 2015, 2 of 3
estimates moved north over the same time frame, causing the Zacks
Consensus Estimate to rise 2.9% to $4.55 per share.
Some better-ranked stocks in the finance sector include
Summit State Bank
Western Alliance Bancorporation
). All of these carry a Zacks Rank #1 (Strong Buy).