Axos Financial (NYSE:AX) Hits New 1-Year High – What’s Next?

Axos Financial, Inc (NYSE:AX) shares reached a new 52-week high on Thursday . The company traded as high as $94.39 and last traded at $94.27, with a volume of 47237 shares traded. The stock had previously closed at $92.00.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. DA Davidson raised their price target on shares of Axos Financial from $106.00 to $107.50 and gave the stock a “buy” rating in a research report on Monday, December 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Keefe, Bruyette & Woods raised their target price on shares of Axos Financial from $94.00 to $100.00 and gave the stock a “market perform” rating in a report on Monday, September 29th. Needham & Company LLC boosted their price target on Axos Financial from $105.00 to $107.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Raymond James Financial restated an “outperform” rating and set a $100.00 price objective (up previously from $95.00) on shares of Axos Financial in a research note on Tuesday, September 23rd. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.42.

Axos Financial Price Performance

The company’s 50-day moving average is $84.93 and its 200-day moving average is $85.14. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 12.53 and a beta of 1.26. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.54.

Axos Financial (NYSE:AX) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.21. The business had revenue of $323.39 million for the quarter, compared to analyst estimates of $319.96 million. Axos Financial had a return on equity of 16.72% and a net margin of 22.41%.During the same period last year, the firm posted $1.96 earnings per share. Equities research analysts predict that Axos Financial, Inc will post 7.22 earnings per share for the current year.

Insider Activity at Axos Financial

In other Axos Financial news, Director Edward James Ratinoff sold 2,145 shares of the firm’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 sale, the director owned 46,209 shares in the company, valued at $3,908,819.31. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Tamara N. Bohlig sold 2,145 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $86.23, for a total transaction of $184,963.35. Following the sale, the director directly owned 12,919 shares in the company, valued at approximately $1,114,005.37. The trade was a 14.24% decrease in their position. The SEC filing for this sale provides additional information. 4.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axos Financial

Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in Axos Financial by 62.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 257,843 shares of the company’s stock valued at $21,538,000 after buying an additional 99,042 shares during the period. Horizon Investment Services LLC acquired a new position in shares of Axos Financial during the 2nd quarter valued at $279,000. Argent Capital Management LLC boosted its stake in Axos Financial by 36.7% during the third quarter. Argent Capital Management LLC now owns 53,690 shares of the company’s stock worth $4,545,000 after acquiring an additional 14,415 shares in the last quarter. CWM LLC grew its holdings in Axos Financial by 32.8% in the second quarter. CWM LLC now owns 10,233 shares of the company’s stock worth $778,000 after purchasing an additional 2,527 shares during the period. Finally, Truist Financial Corp increased its stake in Axos Financial by 24.5% in the second quarter. Truist Financial Corp now owns 12,483 shares of the company’s stock valued at $949,000 after purchasing an additional 2,457 shares in the last quarter. 83.79% of the stock is currently 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.