Axos Financial’s (AX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Axos Financial (NYSE:AX) in a research report released on Friday,Benzinga reports. They currently have a $107.00 price target on the stock.

Several other research firms have also commented on AX. Keefe, Bruyette & Woods increased their price target on shares of Axos Financial from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, September 29th. Raymond James Financial reissued an “outperform” rating and set a $100.00 target price (up previously from $95.00) on shares of Axos Financial in a research report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Finally, DA Davidson increased their price objective on Axos Financial from $106.00 to $107.50 and gave the company a “buy” rating in a report on Monday, December 8th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.42.

Axos Financial Trading Up 0.8%

Shares of NYSE:AX opened at $94.60 on Friday. Axos Financial has a 12-month low of $54.46 and a 12-month high of $95.81. The business’s fifty day simple moving average is $85.49 and its 200-day simple moving average is $85.39. The company has a market capitalization of $5.36 billion, a PE ratio of 12.66 and a beta of 1.26. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.54.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.21. Axos Financial had a return on equity of 16.72% and a net margin of 22.41%.The firm had revenue of $323.39 million during the quarter, compared to analysts’ expectations of $319.96 million. During the same period in the prior year, the business posted $1.96 EPS. As a group, equities research analysts predict that Axos Financial will post 7.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Tamara N. Bohlig sold 2,145 shares of the firm’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $86.23, for a total value of $184,963.35. Following the completion of the transaction, the director directly owned 12,919 shares in the company, valued at $1,114,005.37. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward James Ratinoff sold 2,145 shares of the company’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $84.59, for a total transaction of $181,445.55. Following the completion of the sale, the director directly owned 46,209 shares in the company, valued at $3,908,819.31. This trade represents a 4.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Salomon & Ludwin LLC acquired a new stake in Axos Financial during the third quarter worth about $26,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Axos Financial during the 3rd quarter worth approximately $29,000. Bessemer Group Inc. increased its holdings in shares of Axos Financial by 59.6% during the 3rd quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. True Wealth Design LLC lifted its stake in shares of Axos Financial by 120.9% in the 2nd quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $33,000 after purchasing an additional 237 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Axos Financial by 294.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock valued at $34,000 after purchasing an additional 333 shares during the period. Hedge funds and other 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.