Axos Financial (NYSE:AX) Issues Earnings Results, Beats Estimates By $0.08 EPS

Axos Financial (NYSE:AX) issued its quarterly earnings results on Thursday. The company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.08, FiscalAI reports. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.

Axos Financial Trading Up 1.1%

Shares of AX stock traded up $0.97 during trading hours on Thursday, reaching $92.45. The company had a trading volume of 346,770 shares, compared to its average volume of 383,609. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market cap of $5.26 billion, a price-to-earnings ratio of 10.91 and a beta of 1.28. The company has a 50 day moving average of $91.84 and a 200 day moving average of $92.42. Axos Financial has a 1-year low of $74.89 and a 1-year high of $105.74.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, Director Roque Santi sold 500 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total transaction of $52,650.00. Following the completion of the transaction, the director directly owned 7,146 shares in the company, valued at approximately $752,473.80. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.30% of the company’s stock.

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.