Axos Financial (NYSE:AX) Upgraded at Zacks Research

Axos Financial (NYSE:AX) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other equities research analysts have also recently issued reports on AX. DA Davidson lifted their price objective on Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a report on Friday. Needham & Company LLC raised their target price on Axos Financial from $107.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Keefe, Bruyette & Woods boosted their price target on Axos Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Axos Financial in a research note on Monday, December 29th. Finally, Jefferies Financial Group raised their price objective on Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $104.50.

Axos Financial Price Performance

NYSE:AX opened at $97.84 on Monday. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 12.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08. The company has a 50 day moving average price of $89.24 and a 200-day moving average price of $86.30. Axos Financial has a 1-year low of $54.46 and a 1-year high of $100.83.

Axos Financial (NYSE:AX) last posted its earnings results on Thursday, January 29th. The company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.18. The business had revenue of $385.09 million for the quarter, compared to analyst estimates of $345.89 million. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. The company’s revenue for the quarter was up 25.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.82 EPS. Equities research analysts forecast that Axos Financial will post 7.22 EPS for the current year.

Insider Transactions at Axos Financial

In other Axos Financial news, Director Tamara N. Bohlig sold 2,145 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $86.23, for a total value of $184,963.35. Following the transaction, the director directly owned 12,919 shares in the company, valued at $1,114,005.37. The trade was a 14.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward James Ratinoff sold 2,145 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $84.59, for a total value of $181,445.55. Following the completion of the transaction, the director owned 46,209 shares in the company, valued at $3,908,819.31. This represents a 4.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.85% of the company’s stock.

Institutional Investors Weigh In On Axos Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Salomon & Ludwin LLC purchased a new position in Axos Financial during the 3rd quarter valued at about $26,000. Bessemer Group Inc. increased its stake in Axos Financial by 59.6% during the third quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in shares of Axos Financial during the third quarter worth about $29,000. True Wealth Design LLC lifted its position in shares of Axos Financial by 120.9% during the second quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $33,000 after purchasing an additional 237 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Axos Financial by 294.7% in the second quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock valued at $34,000 after purchasing an additional 333 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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.