Axos Financial’s (AX) Buy Rating Reiterated at Needham & Company LLC

Axos Financial (NYSE:AX)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports. They presently have a $110.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 16.40% from the company’s previous close.

Several other research analysts also recently commented on the company. Keefe, Bruyette & Woods lifted 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. Jefferies Financial Group boosted their target price on shares of Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. DA Davidson increased their price target on shares of Axos Financial from $107.50 to $112.00 and gave the company a “buy” rating in a report on Friday, January 30th. Weiss Ratings restated a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Finally, Zacks Research raised shares of Axos Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $104.50.

Axos Financial Stock Performance

NYSE:AX opened at $94.50 on Friday. The firm has a market capitalization of $5.36 billion, a PE ratio of 11.98 and a beta of 1.27. Axos Financial has a 1 year low of $54.46 and a 1 year high of $101.92. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The firm’s fifty day simple moving average is $91.33 and its 200 day simple moving average is $86.90.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.18. The company had revenue of $385.09 million during the quarter, compared to analysts’ expectations of $345.89 million. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.82 earnings per share. On average, sell-side analysts anticipate that Axos Financial will post 7.22 EPS for the current year.

Insider Activity

In other Axos Financial news, Director Edward James Ratinoff sold 2,145 shares of Axos Financial stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $84.59, for a total transaction of $181,445.55. Following the sale, the director directly owned 46,209 shares of the company’s stock, valued at approximately $3,908,819.31. The trade was a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tamara N. Bohlig sold 2,145 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $86.23, for a total value of $184,963.35. Following the completion of the sale, the director owned 12,919 shares in the company, valued at approximately $1,114,005.37. This represents a 14.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 63,593 shares of company stock valued at $6,274,883. 4.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axos Financial

Several institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC acquired a new position in Axos Financial in the third quarter valued at about $26,000. Eurizon Capital SGR S.p.A. acquired a new position in shares of Axos Financial in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in Axos Financial during the 4th quarter worth approximately $28,000. Bessemer Group Inc. increased its holdings in Axos Financial by 59.6% during the 3rd quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Finally, Brown Brothers Harriman & Co. bought a new position in Axos Financial in the 3rd quarter valued at $29,000. 83.79% of the stock is owned by institutional investors.

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.