Bancorp of New Jersey, Inc. :BKJ-US: Earnings Analysis: Q1, 2016 By the Numbers

Bancorp of New Jersey, Inc. reports financial results for the quarter ended March 31, 2016.

We analyze the earnings along side the following peers of Bancorp of New Jersey, Inc. – Parke Bancorp, Inc., Sun Bancorp, Inc., Two River Bancorp, Sussex Bancorp, Lakeland Bancorp, Inc., Unity Bancorp, Inc. and Valley National Bancorp (PKBK-US, SNBC-US, TRCB-US, SBBX-US, LBAI-US, UNTY-US and VLY-US) that have also reported for this period.

Highlights

  • Summary numbers: Revenues of USD 6.23 million, Net Earnings of USD 1.29 million.
  • Earnings growth from operating margin improvements as well as from one-time items.

The table below shows the preliminary results and recent trends for key metrics such as revenues and net income (See complete table at the end of this report):

2015-03-31 2015-06-30 2015-09-30 2015-12-31 2016-03-31
Relevant Numbers (Quarterly)
Revenues (mil) 5.92 6.14 5.86 5.87 6.23
Revenue Growth (%YOY) 22.45 20.42 0.09 4.97 5.2
Earnings (mil) 1.12 1.29 1.36 1.03 1.29
Earnings Growth (%YOY) 29.05 20.04 7.69 78.28 14.95
Net Margin (%) 18.99 21.06 23.17 17.61 20.75
EPS 0.2 0.21 0.22 0.17 0.21
Return on Equity (%) 6.9 7.3 7.55 5.68 7.01
Return on Assets (%) 0.59 0.65 0.67 0.51 0.65

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Market Share Versus Profits

Revenues History
Earnings History

BKJ-US‘s change in revenue this period compared to the same period last year of 5.20% is almost the same as its change in earnings, and is about average among the announced results thus far in its peer group, suggesting that BKJ-US is holding onto its market share. Also, for comparison purposes, revenues changed by 6.01% and earnings by 24.95% compared to the immediate last period.

Revenues Growth Versus Earnings Growth

Margins

The company’s earnings growth has also been influenced by the following factors: (1) Improvements in operating margins from 29.06% to 32.43% and (2) one-time items. The company’s pretax margins are now 32.43%, compared to 29.06% for the same period last year.

EBIT Margin History
PreTax Margin History
EBIT Margin Versus PreTax Margin

Access our Ratings and Scores for Bancorp of New Jersey, Inc.

Company Profile

Bancorp of New Jersey, Inc. operates as a bank holding company. Its primary business is ownership and supervision of the bank. The company is operating through its subsidiary, Bank of New Jersey which conducts a traditional commercial banking business, accepting deposits from the general public, including individuals, businesses, non-profit organizations, and governmental units. The bank makes commercial loans, consumer loans, and both residential and commercial real estate loans. In addition, it provides other customer services and makes investments in securities, as permitted by law. The company was founded in November 2006 and is headquartered in Fort Lee, NJ.

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