Axos Financial (NYSE:AX) Shares Gap Down to $77.61

Axos Financial, Inc. (NYSE:AX) shares gapped down before the market opened on Wednesday . The stock had previously closed at $77.61, but opened at $71.05. Axos Financial shares last traded at $72.36, with a volume of 25,196 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have commented on AX. Keefe, Bruyette & Woods downgraded Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 target price on the stock. in a research note on Wednesday. Wedbush increased their target price on Axos Financial from $60.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday. Raymond James increased their target price on Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Piper Sandler increased their target price on Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $81.00.

Axos Financial Price Performance

The firm has a fifty day moving average price of $59.95 and a two-hundred day moving average price of $55.73. The stock has a market capitalization of $3.83 billion, a P/E ratio of 9.12 and a beta of 1.42. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.07 and a current ratio of 1.07.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Tuesday, July 30th. The company reported $1.80 earnings per share for the quarter, meeting the consensus estimate of $1.80. The firm had revenue of $484.29 million for the quarter, compared to analysts’ expectations of $296.02 million. Axos Financial had a return on equity of 19.03% and a net margin of 23.96%. During the same period in the prior year, the firm earned $1.50 EPS. As a group, analysts expect that Axos Financial, Inc. will post 7.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Axos Financial

Several hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in Axos Financial by 114.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 795,381 shares of the company’s stock worth $43,428,000 after purchasing an additional 423,930 shares during the period. Norges Bank purchased a new stake in Axos Financial in the 4th quarter worth $21,573,000. Cubist Systematic Strategies LLC increased its stake in Axos Financial by 167.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 369,759 shares of the company’s stock worth $20,189,000 after buying an additional 231,722 shares in the last quarter. M&G Plc purchased a new stake in Axos Financial in the 1st quarter worth $8,249,000. Finally, Epoch Investment Partners Inc. purchased a new stake in Axos Financial in the 1st quarter worth $7,829,000. 83.79% of the stock is owned by institutional investors.

Axos Financial Company Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.