Axos Financial, Inc (NYSE:AX) Receives $109.40 Average Target Price from Analysts

Axos Financial, Inc (NYSE:AX) has earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $109.40.

A number of brokerages have weighed in on AX. Zacks Research downgraded Axos Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Weiss Ratings downgraded Axos Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 14th. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price target on shares of Axos Financial in a 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 target for the stock from $110.00 to $100.00 in a report on Tuesday, April 7th.

Axos Financial Stock Up 0.2%

Shares of NYSE:AX opened at $88.23 on Tuesday. The firm has a market cap of $5.02 billion, a P/E ratio of 10.72 and a beta of 1.24. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.38. Axos Financial has a 12-month low of $71.00 and a 12-month high of $101.92. The business has a fifty day simple moving average of $89.75 and a 200 day simple moving average of $89.75.

Axos Financial (NYSE:AX) last announced its earnings results on Thursday, April 30th. The company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.13 by ($0.23). The company had revenue of $392.25 million for the quarter, compared to the consensus estimate of $372.51 million. Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.During the same period in the prior year, the business earned $1.81 earnings per share. Analysts predict that Axos Financial will post 8.49 earnings per share for the current year.

Insider Transactions at Axos Financial

In other Axos Financial news, EVP Michael James Watson sold 1,653 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total transaction of $138,471.81. Following the completion of the sale, the executive vice president directly owned 4,592 shares in the company, valued at approximately $384,671.84. This trade represents a 26.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Roque A. Santi sold 500 shares of the stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $87.77, for a total value of $43,885.00. Following the sale, the director owned 7,646 shares of the company’s stock, valued at approximately $671,089.42. The trade was a 6.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.85% of the company’s stock.

Institutional Trading of Axos Financial

Several large investors have recently made changes to their positions in AX. Royal Bank of Canada grew its stake in shares of Axos Financial by 0.9% in the 1st quarter. Royal Bank of Canada now owns 108,986 shares of the company’s stock valued at $7,031,000 after buying an additional 1,015 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Axos Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company’s stock valued at $2,099,000 after buying an additional 1,429 shares during the period. United Services Automobile Association acquired a new stake in shares of Axos Financial in the 1st quarter valued at about $212,000. Cetera Investment Advisers grew its stake in shares of Axos Financial by 1.8% in the 2nd quarter. Cetera Investment Advisers now owns 8,197 shares of the company’s stock valued at $623,000 after buying an additional 141 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Axos Financial in the 2nd quarter valued at about $6,252,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.