Also in that conference call, management said the revenue from the cashcall expansion won't show up until the 4th qtr. However, the expenses will show up in the 3rd qtr. The 3rd qtr earnings could be at the low end of estimates. But, imho, it will be all about the guidance forward.
I don't see any catalyst that takes us back into the $20s until the 4th qtr report.
Your estimates are way too optimistic. They already reported July originations at $740M. That means we need more than $1.1B on avg. for Aug and Sep. NO WAY! They reported that the expansion into the other states won't show up until the 4th qtr. NO WAY, we make 2.95B originations.
They beat on revenue. They beat on earnings. They guided higher for the rest of the year. The fair valuation will come. Maybe not today or tomorrow, but it will come someday. In the meantime, just collect the divy and relax.
I just listened to the cc, and I think the main concern is the debt. Management said they like to keep the debt between 45-50%, and the current level is 51% and expected to grow to 52% very soon. IMHO, this will prevent the company from raising the divy, and THAT is causing a drag on the stock price.
BTW, I just bought more at $26.65. I kinda like a 7.5% divy.