Axos Financial (NYSE:AX) Sets New 52-Week High – Here’s Why

Shares of Axos Financial, Inc (NYSE:AX) reached a new 52-week high on Thursday . The stock traded as high as $94.39 and last traded at $94.27, with a volume of 47237 shares. The stock had previously closed at $92.00.

Analyst Ratings Changes

AX has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods increased their target price on Axos Financial from $94.00 to $100.00 and gave the stock a “market perform” rating in a research note on Monday, September 29th. Raymond James Financial reaffirmed an “outperform” rating and issued a $100.00 price target (up previously from $95.00) on shares of Axos Financial in a research note on Tuesday, September 23rd. Needham & Company LLC increased their price objective on shares of Axos Financial from $105.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Finally, DA Davidson raised their price objective on shares of Axos Financial from $106.00 to $107.50 and gave the stock a “buy” rating in a report on Monday, December 8th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Axos Financial presently has an average rating of “Moderate Buy” and a consensus target price of $97.42.

Axos Financial Stock Performance

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.54. The stock’s fifty day moving average is $84.93 and its two-hundred day moving average is $85.14. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 12.53 and a beta of 1.26.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Thursday, October 30th. The company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $1.86 by $0.21. The company had revenue of $323.39 million during the quarter, compared to the consensus estimate of $319.96 million. Axos Financial had a net margin of 22.41% and a return on equity of 16.72%. During the same quarter last year, the firm posted $1.96 EPS. On average, analysts predict that Axos Financial, Inc will post 7.22 earnings per share for the current year.

Insider Activity at Axos Financial

In related news, Director Tamara N. Bohlig sold 2,145 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $86.23, for a total transaction of $184,963.35. Following the transaction, the director directly owned 12,919 shares of the company’s stock, valued at approximately $1,114,005.37. The trade was a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward James Ratinoff sold 2,145 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $84.59, for a total value of $181,445.55. Following the completion of the sale, the director owned 46,209 shares in the company, valued at approximately $3,908,819.31. This trade represents a 4.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.85% of the stock is owned by corporate insiders.

Institutional Trading of Axos Financial

Several hedge funds and other institutional investors have recently modified their holdings of AX. Franklin Resources Inc. lifted its position in Axos Financial by 198.0% during the third quarter. Franklin Resources Inc. now owns 414,178 shares of the company’s stock worth $35,060,000 after acquiring an additional 275,191 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Axos Financial by 10.5% during the second quarter. American Century Companies Inc. now owns 2,378,121 shares of the company’s stock worth $180,832,000 after purchasing an additional 226,892 shares during the period. Boothbay Fund Management LLC acquired a new stake in Axos Financial during the 2nd quarter worth approximately $9,639,000. Edgestream Partners L.P. boosted its stake in Axos Financial by 199.7% in the 2nd quarter. Edgestream Partners L.P. now owns 165,283 shares of the company’s stock valued at $12,568,000 after purchasing an additional 110,136 shares during the period. Finally, UBS Group AG grew its holdings in Axos Financial by 65.7% in the 3rd quarter. UBS Group AG now owns 267,312 shares of the company’s stock valued at $22,628,000 after buying an additional 106,003 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Axos Financial Company Profile

Axos Financial, Inc (NYSE: AX) is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.