Axos Financial (NYSE:AX) Stock Breaks Above 50-Day Moving Average – What’s Next?

Axos Financial, Inc (NYSE:AX)’s share price passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $91.96 and traded as high as $92.82. Axos Financial shares last traded at $92.3450, with a volume of 387,410 shares trading hands.

Analyst Ratings Changes

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

Axos Financial Trading Up 0.6%

The company has a fifty day moving average price of $91.96 and a 200 day moving average price of $92.43.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.37. The company had revenue of $379.77 million for the quarter, compared to analyst estimates of $375.54 million. During the same quarter in the previous year, the company posted $1.94 earnings per share. On average, sell-side analysts predict that Axos Financial, Inc will post 9.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Roque Santi sold 500 shares of the company’s stock in a transaction on 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 $752,473.80. This represents a 6.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Axos Financial

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new position in shares of Axos Financial during the second quarter valued at $817,051,000. Dimensional Fund Advisors LP increased its holdings in shares of Axos Financial by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,177,003 shares of the company’s stock worth $185,234,000 after acquiring an additional 7,509 shares during the period. Davis Asset Management L.P. acquired a new stake in shares of Axos Financial in the 2nd quarter worth about $149,515,000. Allspring Global Investments Holdings LLC lifted its position in Axos Financial by 38.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 432,739 shares of the company’s stock valued at $37,203,000 after purchasing an additional 119,523 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Axos Financial in the 2nd quarter valued at about $36,816,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Axos Financial Company Profile

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.