Axos Financial (NYSE:AX) Issues Quarterly Earnings Results

Axos Financial (NYSE:AX) announced its quarterly earnings results on Wednesday. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.80 by $0.16, Briefing.com reports. Axos Financial had a return on equity of 19.47% and a net margin of 24.07%. The company had revenue of $512.87 million for the quarter, compared to the consensus estimate of $299.59 million. During the same quarter last year, the company posted $1.41 earnings per share.

Axos Financial Trading Down 2.7 %

NYSE:AX opened at $65.87 on Friday. Axos Financial has a twelve month low of $32.05 and a twelve month high of $79.15. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The business has a 50 day moving average price of $64.96 and a two-hundred day moving average price of $61.37. The company has a market cap of $3.75 billion, a P/E ratio of 7.97 and a beta of 1.39.

Analysts Set New Price Targets

AX has been the subject of several recent research reports. Raymond James boosted their price objective on Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Wedbush dropped their price objective on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Needham & Company LLC boosted their price objective on Axos Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday. Keefe, Bruyette & Woods boosted their price objective on Axos Financial from $72.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Piper Sandler boosted their price objective on Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $79.80.

Insiders Place Their Bets

In other Axos Financial news, EVP Andrew J. Micheletti sold 5,197 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $63.13, for a total transaction of $328,086.61. Following the completion of the transaction, the executive vice president now owns 424,149 shares of the company’s stock, valued at $26,776,526.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.07% 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.