Piper Sandler Raises Axos Financial (NYSE:AX) Price Target to $84.00

Axos Financial (NYSE:AX) had its price target raised by Piper Sandler from $68.00 to $84.00 in a research report report published on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on AX. Keefe, Bruyette & Woods lowered Axos Financial from an outperform rating to a market perform rating and set a $79.00 price target for the company. in a research note on Wednesday. Wedbush reiterated a neutral rating and issued a $60.00 price target on shares of Axos Financial in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $81.00.

Axos Financial Price Performance

Shares of Axos Financial stock opened at $67.22 on Wednesday. Axos Financial has a one year low of $32.05 and a one year high of $79.15. The stock’s fifty day moving average is $60.15 and its 200 day moving average is $55.83. The stock has a market cap of $3.83 billion, a P/E ratio of 9.12 and a beta of 1.43. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.07 and a current ratio of 1.08.

Axos Financial (NYSE:AX) last announced its earnings results on Tuesday, July 30th. The company reported $1.80 EPS for the quarter, hitting analysts’ consensus estimates of $1.80. Axos Financial had a return on equity of 18.57% and a net margin of 23.96%. The company had revenue of $484.29 million for the quarter, compared to analysts’ expectations of $296.02 million. During the same period last year, the firm earned $1.50 EPS. Sell-side analysts anticipate that Axos Financial will post 7.25 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. purchased a new position in shares of Axos Financial during the fourth quarter valued at about $26,000. EntryPoint Capital LLC grew its position in Axos Financial by 816.7% in the first quarter. EntryPoint Capital LLC now owns 495 shares of the company’s stock worth $27,000 after acquiring an additional 441 shares in the last quarter. Investment Research & Advisory Group Inc. purchased a new position in Axos Financial in the first quarter worth about $27,000. FinTrust Capital Advisors LLC purchased a new position in Axos Financial in the fourth quarter worth about $44,000. Finally, 1620 Investment Advisors Inc. purchased a new position in Axos Financial in the second quarter worth about $49,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

About Axos Financial

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.