Brokerages Set Axos Financial, Inc (NYSE:AX) Price Target at $104.50

Axos Financial, Inc (NYSE:AX) has been given an average recommendation of “Buy” by the eight research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $104.50.

A number of equities analysts have recently weighed in on AX shares. Weiss Ratings reissued a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Jefferies Financial Group increased their price target on Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. DA Davidson raised their price objective on Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Zacks Research upgraded Axos Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Finally, Keefe, Bruyette & Woods increased their target price on Axos Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th.

Axos Financial Stock Up 2.9%

Shares of NYSE:AX opened at $97.29 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $5.51 billion, a P/E ratio of 12.33 and a beta of 1.27. Axos Financial has a 52-week low of $54.46 and a 52-week high of $101.92. The stock’s fifty day simple moving average is $91.59 and its 200-day simple moving average is $87.00.

Axos Financial (NYSE:AX) last announced its earnings results 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 net margin of 22.66% and a return on equity of 16.98%. The firm had revenue of $385.09 million during the quarter, compared to the consensus estimate of $345.89 million. During the same quarter in the previous year, the company posted $1.82 EPS. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. As a group, equities research analysts forecast that Axos Financial will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Axos Financial

In other news, Director James John Court sold 11,163 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.01, for a total transaction of $1,127,574.63. Following the completion of the sale, the director directly owned 32,169 shares in the company, valued at $3,249,390.69. This represents a 25.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Edward James Ratinoff sold 2,145 shares of Axos Financial 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 transaction, the director owned 46,209 shares in the company, valued at $3,908,819.31. The trade was a 4.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 63,593 shares of company stock valued at $6,274,883 over the last 90 days. 4.85% of the stock is currently owned by insiders.

Institutional Trading of Axos Financial

A number of institutional investors and hedge funds have recently bought and sold shares of AX. Salomon & Ludwin LLC acquired a new position in Axos Financial during the third quarter valued at approximately $26,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Axos Financial during the 4th quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in shares of Axos Financial during the 4th quarter valued at $28,000. Bessemer Group Inc. boosted its position in Axos Financial by 59.6% during the 3rd quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new stake in Axos Financial in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.