Axos Financial, Inc (NYSE:AX) Given Average Rating of “Buy” by Analysts

Shares of Axos Financial, Inc (NYSE:AX) have been given a consensus recommendation of “Buy” by the eight ratings firms that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $110.3333.

A number of brokerages recently commented on AX. Zacks Research cut shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Weiss Ratings upgraded shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Raymond James Financial raised shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $110.00 to $100.00 in a report on Tuesday, April 7th. Finally, Benchmark began coverage on Axos Financial in a report on Wednesday, July 8th. They issued a “buy” rating and a $115.00 price target for the company.

Insider Transactions at Axos Financial

In other Axos Financial news, Director Roque A. Santi sold 500 shares of Axos Financial stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $87.77, for a total transaction of $43,885.00. Following the completion of the sale, the director directly owned 7,646 shares in the company, valued at $671,089.42. The trade was a 6.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael James Watson sold 1,653 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total transaction of $138,471.81. Following the sale, the executive vice president owned 4,592 shares of the company’s stock, valued at approximately $384,671.84. The trade was a 26.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.85% of the company’s stock.

Institutional Trading of Axos Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Eurizon Capital SGR S.p.A. purchased a new position in Axos Financial during the fourth quarter valued at $26,000. Basepoint Wealth LLC bought a new position in shares of Axos Financial during the fourth quarter valued at $28,000. Brown Brothers Harriman & Co. bought a new position in shares of Axos Financial during the third quarter valued at $29,000. State of Wyoming purchased a new position in shares of Axos Financial in the 1st quarter worth about $30,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Axos Financial by 294.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after purchasing an additional 333 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Axos Financial Trading Up 2.8%

NYSE:AX opened at $100.95 on Friday. Axos Financial has a 52 week low of $74.89 and a 52 week high of $102.18. The firm has a 50-day moving average price of $90.54 and a two-hundred day moving average price of $91.19. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $5.74 billion, a price-to-earnings ratio of 12.27 and a beta of 1.23.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.23). The business had revenue of $392.25 million for the quarter, compared to analysts’ expectations of $372.51 million. Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. During the same period in the previous year, the business posted $1.81 earnings per share. On average, equities analysts expect that Axos Financial will post 8.38 earnings per share for the current fiscal year.

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.