Axos Financial’s (AX) “Outperform” Rating Reiterated at Raymond James

Raymond James reiterated their outperform rating on shares of Axos Financial (NYSE:AX) in a report released on Wednesday,Benzinga reports. Raymond James currently has a $80.00 target price on the stock, up from their previous target price of $75.00.

Other analysts have also issued reports about the company. Needham & Company LLC boosted their price objective on Axos Financial from $85.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday. Keefe, Bruyette & Woods dropped their price target on Axos Financial from $91.00 to $90.00 and set a “market perform” rating on the stock in a research report on Wednesday. Finally, StockNews.com raised shares of Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Axos Financial has an average rating of “Moderate Buy” and an average target price of $84.17.

Axos Financial Stock Performance

Shares of AX opened at $70.03 on Wednesday. Axos Financial has a 52-week low of $44.10 and a 52-week high of $88.46. 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 firm has a market cap of $4.00 billion, a price-to-earnings ratio of 9.41 and a beta of 1.46. The business’s 50 day moving average is $74.24 and its two-hundred day moving average is $70.34.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.07. Axos Financial had a net margin of 22.10% and a return on equity of 19.12%. Analysts forecast that Axos Financial will post 7.16 EPS for the current fiscal year.

Insider Transactions at Axos Financial

In related news, Director Edward James Ratinoff sold 4,002 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $79.41, for a total value of $317,798.82. Following the completion of the transaction, the director now directly owns 46,209 shares of the company’s stock, valued at $3,669,456.69. This represents a 7.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregory Garrabrants sold 125,000 shares of Axos Financial stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total value of $10,236,250.00. Following the sale, the chief executive officer now directly owns 1,340,377 shares in the company, valued at $109,763,472.53. The trade was a 8.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.07% of the company’s stock.

Institutional Trading of Axos Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC raised its holdings in Axos Financial by 27.4% during the second quarter. Hsbc Holdings PLC now owns 7,731 shares of the company’s stock worth $438,000 after purchasing an additional 1,661 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Axos Financial by 33.1% in the second quarter. Sei Investments Co. now owns 65,520 shares of the company’s stock valued at $3,744,000 after buying an additional 16,287 shares during the period. Xponance Inc. boosted its stake in Axos Financial by 20.4% during the second quarter. Xponance Inc. now owns 6,523 shares of the company’s stock valued at $373,000 after buying an additional 1,103 shares in the last quarter. Millennium Management LLC grew its holdings in Axos Financial by 107.9% during the second quarter. Millennium Management LLC now owns 367,251 shares of the company’s stock worth $20,988,000 after acquiring an additional 190,584 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Axos Financial by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 30,866 shares of the company’s stock worth $1,764,000 after acquiring an additional 888 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

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.