Axos Financial (NYSE:AX) Posts Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Axos Financial (NYSE:AX) issued its earnings results on Tuesday. The company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.21, Yahoo Finance reports. Axos Financial had a return on equity of 17.83% and a net margin of 24.55%. The firm had revenue of $476.73 million for the quarter, compared to analysts’ expectations of $277.85 million. During the same period in the previous year, the firm posted $1.35 earnings per share.

Axos Financial Trading Up 10.3 %

NYSE AX traded up $5.20 during trading hours on Wednesday, hitting $55.81. 397,771 shares of the company were exchanged, compared to its average volume of 541,817. The stock has a 50-day moving average price of $51.31 and a 200 day moving average price of $48.58. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.24. Axos Financial has a 52 week low of $32.05 and a 52 week high of $60.00. The stock has a market cap of $3.18 billion, a PE ratio of 8.17 and a beta of 1.44.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AX shares. Wedbush reaffirmed a “neutral” rating and issued a $60.00 target price on shares of Axos Financial in a report on Wednesday. Piper Sandler lifted their target price on Axos Financial from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Wednesday. Raymond James lifted their target price on Axos Financial from $45.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Axos Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.33.

Insiders Place Their Bets

In other Axos Financial news, EVP Andrew J. Micheletti sold 1,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $51.57, for a total transaction of $79,830.36. Following the sale, the executive vice president now directly owns 427,535 shares of the company’s stock, valued at $22,047,979.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Axos Financial news, EVP Andrew J. Micheletti sold 1,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $51.57, for a total transaction of $79,830.36. Following the sale, the executive vice president now directly owns 427,535 shares of the company’s stock, valued at $22,047,979.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sara Wardell-Smith bought 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were acquired at an average cost of $49.75 per share, for a total transaction of $248,750.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $248,750. The disclosure for this purchase can be found here. 4.82% of the stock is currently owned by insiders.

About Axos Financial

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.