Axos Financial (NYSE:AX) Shares Cross Below 200-Day Moving Average – Should You Sell?

Shares of Axos Financial, Inc (NYSE:AX) passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $92.43 and traded as low as $91.55. Axos Financial shares last traded at $92.42, with a volume of 379,134 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AX. Keefe, Bruyette & Woods lifted their target price on shares of Axos Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. Benchmark upped their target price on shares of Axos Financial from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Weiss Ratings upgraded Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. DA Davidson set a $121.00 price target on Axos Financial in a report on Friday, July 31st. Finally, Needham & Company LLC reissued a “buy” rating and set a $128.00 price target on shares of Axos Financial in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Axos Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

Axos Financial Stock Up 0.3%

The company has a current ratio of 1.07, a quick ratio of 1.06 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $5.26 billion, a P/E ratio of 10.57 and a beta of 1.31. The company has a 50 day simple moving average of $91.26 and a two-hundred day simple moving average of $92.43.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Thursday, October 29th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.08. The business had revenue of $395.07 million during the quarter, compared to analyst estimates of $386.30 million. Axos Financial had a net margin of 22.33% and a return on equity of 16.75%. The company’s revenue was up 22.2% on a year-over-year basis. During the same period last year, the firm posted $1.94 EPS. On average, equities analysts predict that Axos Financial, Inc will post 9.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Axos Financial

Several institutional investors have recently bought and sold shares of AX. BlackRock Inc. bought a new stake in Axos Financial in the 2nd quarter valued at $817,051,000. Davis Asset Management L.P. bought a new position in shares of Axos Financial during the 2nd quarter valued at about $149,515,000. Bank of New York Mellon Corp bought a new position in shares of Axos Financial during the 2nd quarter valued at about $36,816,000. Empowered Funds LLC purchased a new position in shares of Axos Financial during the second quarter valued at about $24,453,000. Finally, Bank of America Corp DE purchased a new position in shares of Axos Financial during the second quarter valued at about $16,437,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

About Axos Financial

Axos Financial, Inc is a financial holding company that operates primarily through Axos Bank, a nationwide digital bank. The company provides personal and business banking products, including checking and savings accounts, certificates of deposit, mortgage and home-equity loans, commercial lending, and other deposit and credit services. Its digital-first model allows customers to access accounts and financial services online and through mobile platforms.

Through its institutional businesses, Axos also provides securities clearing, custody, and related brokerage services to registered investment advisers, broker-dealers, and other financial institutions.