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

Axos Financial, Inc (NYSE:AX) shares reached a new 52-week high during trading on Monday . The company traded as high as $101.92 and last traded at $101.2250, with a volume of 64395 shares changing hands. The stock had previously closed at $101.01.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Zacks Research raised shares of Axos Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Jefferies Financial Group increased their price target on shares of Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Needham & Company LLC raised their price target on Axos Financial from $107.00 to $110.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Axos Financial currently has a consensus rating of “Buy” and an average price target of $104.50.

Axos Financial Stock Down 1.8%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.08. The company has a fifty day moving average price of $90.28 and a 200-day moving average price of $86.60. The firm has a market capitalization of $5.62 billion, a PE ratio of 12.57 and a beta of 1.27.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.18. The business had revenue of $385.09 million for 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 revenue was up 25.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.82 earnings per share. As a group, analysts expect that Axos Financial, Inc will post 7.22 earnings per share for the current year.

Insider Buying and Selling at Axos Financial

In other news, EVP Derrick Walsh sold 4,846 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.21, for a total transaction of $490,463.66. Following the transaction, the executive vice president owned 37,936 shares of the company’s stock, valued at approximately $3,839,502.56. This represents a 11.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory Garrabrants sold 43,294 shares of Axos Financial stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $99.10, for a total transaction of $4,290,435.40. Following the transaction, the chief executive officer directly owned 1,418,751 shares in the company, valued at approximately $140,598,224.10. The trade was a 2.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 63,593 shares of company stock worth $6,274,883 over the last quarter. Insiders own 4.85% of the company’s stock.

Hedge Funds Weigh In On Axos Financial

Several large investors have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in shares of Axos Financial by 0.9% during the 1st quarter. Royal Bank of Canada now owns 108,986 shares of the company’s stock worth $7,031,000 after buying an additional 1,015 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Axos Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company’s stock worth $2,099,000 after purchasing an additional 1,429 shares in the last quarter. United Services Automobile Association purchased a new stake in Axos Financial in the 1st quarter valued at $212,000. Truist Financial Corp raised its stake in Axos Financial by 24.5% during the second quarter. Truist Financial Corp now owns 12,483 shares of the company’s stock worth $949,000 after purchasing an additional 2,457 shares during the period. Finally, KLP Kapitalforvaltning AS grew its position in Axos Financial by 5.3% in the second quarter. KLP Kapitalforvaltning AS now owns 15,900 shares of the company’s stock worth $1,209,000 after acquiring an additional 800 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Axos Financial Company Profile

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.