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

Axos Financial (NYSE:AX)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued to investors on Monday,Benzinga reports. They presently have a $110.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 29.94% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. DA Davidson increased their price target on Axos Financial from $107.50 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Jefferies Financial Group lifted their price target on shares of Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Zacks Research raised Axos Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Keefe, Bruyette & Woods raised their target price on shares of Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $104.50.

Axos Financial Stock Down 0.0%

Shares of AX opened at $84.66 on Monday. The business’s 50 day simple moving average is $93.17 and its 200-day simple moving average is $87.50. Axos Financial has a one year low of $54.46 and a one year high of $101.92. The company has a market capitalization of $4.80 billion, a P/E ratio of 10.73 and a beta of 1.27. 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 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.18. The company had revenue of $385.09 million for the quarter, compared to analyst estimates of $345.89 million. Axos Financial had a return on equity of 16.98% and a net margin of 22.66%.The business’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.82 earnings per share. As a group, sell-side analysts predict that Axos Financial will post 7.22 EPS for the current fiscal year.

Insider Activity at Axos Financial

In other news, Director James John Court sold 11,163 shares of the firm’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 value of $1,127,574.63. Following the sale, the director directly owned 32,169 shares in the company, valued at approximately $3,249,390.69. This trade represents a 25.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Derrick Walsh sold 4,846 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $101.21, for a total transaction of $490,463.66. Following the completion of the sale, the executive vice president owned 37,936 shares in the company, valued at $3,839,502.56. This represents a 11.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 59,303 shares of company stock valued at $5,908,474 over the last three months. 4.85% of the stock is owned by insiders.

Institutional Trading of Axos Financial

Several institutional investors have recently modified their holdings of the business. Corient Private Wealth LLC increased its stake in shares of Axos Financial by 6.6% in the 4th 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 lifted its position in Axos Financial by 7.3% in the 4th 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 boosted its position in shares of Axos Financial by 35.7% during the fourth quarter. Summit Global Investments now owns 14,203 shares of the company’s stock valued at $1,224,000 after buying an additional 3,734 shares during the last quarter. State of Tennessee Department of Treasury boosted its holdings in Axos Financial by 29.6% during the 4th 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 last quarter. Finally, NewEdge Advisors LLC grew its position in Axos Financial by 22.8% in the 4th quarter. NewEdge Advisors LLC now owns 1,105 shares of the company’s stock worth $95,000 after purchasing an additional 205 shares in the last quarter. Institutional investors 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.