Axos Financial, Inc (NYSE:AX) Receives $104.50 Average PT from Analysts

Shares of Axos Financial, Inc (NYSE:AX) have been assigned an average rating of “Buy” from the eight ratings firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $104.50.

AX has been the subject of a number of recent analyst reports. DA Davidson upped their price target on shares of Axos Financial from $107.50 to $112.00 and gave the company a “buy” rating in a report on Friday, January 30th. Keefe, Bruyette & Woods boosted their target price 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 reaffirmed a “buy” rating and set a $110.00 target price on shares of Axos Financial in a research note on Monday, March 16th. Zacks Research upgraded Axos Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, Jefferies Financial Group raised 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.

Axos Financial Trading Up 0.2%

Shares of AX stock opened at $85.52 on Thursday. The company has a market cap of $4.85 billion, a PE ratio of 10.84 and a beta of 1.26. Axos Financial has a 1 year low of $54.46 and a 1 year high of $101.92. The stock’s 50 day simple moving average is $90.60 and its two-hundred day simple moving average is $86.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08.

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

Insiders Place Their Bets

In related news, CEO Gregory Garrabrants sold 43,294 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $99.10, for a total value of $4,290,435.40. Following the transaction, the chief executive officer owned 1,418,751 shares of the company’s stock, valued at $140,598,224.10. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Derrick Walsh sold 4,846 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.21, for a total value of $490,463.66. Following the transaction, the executive vice president owned 37,936 shares in the company, valued at $3,839,502.56. The trade was a 11.33% 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 59,303 shares of company stock worth $5,908,474 over the last quarter. Company insiders own 4.85% of the company’s stock.

Institutional Investors Weigh In On Axos Financial

Several hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its position in shares of Axos Financial by 7.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,186 shares of the company’s stock worth $188,000 after buying an additional 146 shares in the last quarter. Corient Private Wealth LLC raised its holdings in shares of Axos Financial by 6.6% in the fourth quarter. Corient Private Wealth LLC now owns 2,696 shares of the company’s stock valued at $232,000 after acquiring an additional 168 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Axos Financial by 7.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,697 shares of the company’s stock valued at $1,008,000 after acquiring an additional 798 shares in the last quarter. Summit Global Investments lifted its stake in Axos Financial by 35.7% in the fourth quarter. Summit Global Investments now owns 14,203 shares of the company’s stock worth $1,224,000 after acquiring an additional 3,734 shares during the period. Finally, State of Tennessee Department of Treasury lifted its stake in Axos Financial by 29.6% in the fourth quarter. State of Tennessee Department of Treasury now owns 31,196 shares of the company’s stock worth $2,688,000 after acquiring an additional 7,118 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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.