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

Axos Financial, Inc (NYSE:AX) has been given an average rating of “Buy” by the eight analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $104.50.

Several equities analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Zacks Research upgraded Axos Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price objective on shares of Axos Financial in a research report on Monday, March 16th. Finally, Raymond James Financial upgraded Axos Financial from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the company from $110.00 to $100.00 in a research report on Tuesday.

Insider Activity at Axos Financial

In related news, Director James John Court sold 11,163 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $101.01, for a total value of $1,127,574.63. Following the completion of the transaction, the director directly owned 32,169 shares in the company, valued at approximately $3,249,390.69. The trade was a 25.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Derrick Walsh sold 4,846 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $101.21, for a total value of $490,463.66. Following the completion of the transaction, the executive vice president owned 37,936 shares of the company’s stock, valued at $3,839,502.56. This represents a 11.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 59,303 shares of company stock worth $5,908,474. 4.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axos Financial

A number of large investors have recently bought and sold shares of AX. Franklin Resources Inc. boosted its position in Axos Financial by 198.0% during the 3rd quarter. Franklin Resources Inc. now owns 414,178 shares of the company’s stock worth $35,060,000 after acquiring an additional 275,191 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Axos Financial by 56.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 371,086 shares of the company’s stock worth $31,973,000 after acquiring an additional 133,529 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in Axos Financial during the 2nd quarter worth approximately $9,639,000. UBS Group AG boosted its position in Axos Financial by 65.7% during the 3rd quarter. UBS Group AG now owns 267,312 shares of the company’s stock worth $22,628,000 after acquiring an additional 106,003 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Axos Financial by 62.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 257,843 shares of the company’s stock worth $21,538,000 after acquiring an additional 99,042 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Axos Financial Stock Up 4.7%

Axos Financial stock opened at $93.40 on Thursday. The company’s 50 day simple moving average is $90.43 and its 200 day simple moving average is $86.82. Axos Financial has a fifty-two week low of $54.65 and a fifty-two week high of $101.92. The firm has a market capitalization of $5.29 billion, a price-to-earnings ratio of 11.84 and a beta of 1.26. 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 issued its quarterly earnings data on Thursday, January 29th. The company reported $2.25 earnings per share (EPS) 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 business had revenue of $385.09 million during the quarter, compared to analyst estimates of $345.89 million. During the same period in the previous year, the firm earned $1.82 EPS. Axos Financial’s quarterly revenue was up 25.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Axos Financial will post 7.22 EPS for the current year.

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.