Axos Financial (NYSE:AX) Reaches New 1-Year High – What’s Next?

Axos Financial, Inc (NYSE:AX) hit a new 52-week high on Monday . The company traded as high as $101.92 and last traded at $101.2250, with a volume of 64395 shares. The stock had previously closed at $101.01.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group boosted their target price on shares of Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods raised their price objective on Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Needham & Company LLC lifted their target price on Axos Financial from $107.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, DA Davidson raised their price target on Axos Financial from $107.50 to $112.00 and gave the company a “buy” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Axos Financial has a consensus rating of “Buy” and an average target price of $104.50.

Axos Financial Stock Down 1.8%

The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 12.57 and a beta of 1.27. The firm’s 50 day simple moving average is $90.28 and its two-hundred day simple moving average is $86.60.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.18. Axos Financial had a return on equity of 16.98% and a net margin of 22.66%.The firm had revenue of $385.09 million during the quarter, compared to analysts’ expectations of $345.89 million. During the same period in the previous year, the firm earned $1.82 EPS. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. On average, equities analysts forecast that Axos Financial, Inc will post 7.22 EPS for the current year.

Insider Activity at Axos Financial

In related news, CEO Gregory Garrabrants sold 43,294 shares of the stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $99.10, for a total transaction of $4,290,435.40. Following the sale, the chief executive officer owned 1,418,751 shares in the company, valued at approximately $140,598,224.10. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James John Court sold 11,163 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $101.01, for a total transaction of $1,127,574.63. Following the transaction, the director owned 32,169 shares of the company’s stock, valued at approximately $3,249,390.69. This represents a 25.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 63,593 shares of company stock worth $6,274,883 in the last 90 days. Corporate insiders own 4.85% of the company’s stock.

Institutional Trading of Axos Financial

Several institutional investors have recently added to or reduced their stakes in AX. Royal Bank of Canada lifted its position in shares of Axos Financial by 0.9% during the 1st quarter. Royal Bank of Canada now owns 108,986 shares of the company’s stock valued at $7,031,000 after acquiring an additional 1,015 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Axos Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company’s stock worth $2,099,000 after acquiring an additional 1,429 shares during the period. United Services Automobile Association purchased a new position in shares of Axos Financial in the 1st quarter worth about $212,000. Truist Financial Corp lifted its stake in Axos Financial by 24.5% in the second quarter. Truist Financial Corp now owns 12,483 shares of the company’s stock valued at $949,000 after purchasing an additional 2,457 shares during the last quarter. Finally, KLP Kapitalforvaltning AS raised its position in shares of Axos Financial by 5.3% in the second quarter. KLP Kapitalforvaltning AS now owns 15,900 shares of the company’s stock valued at $1,209,000 after purchasing an additional 800 shares during the period. 83.79% of the stock is currently owned by institutional investors.

About Axos Financial

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.