Brokerages Set Axos Financial, Inc (NYSE:AX) Target Price at $104.50

Axos Financial, Inc (NYSE:AX) has received a consensus recommendation of “Buy” from the eight research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $104.50.

AX has been the topic of several recent analyst reports. Zacks Research raised Axos Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. DA Davidson upped their price objective on Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Keefe, Bruyette & Woods increased their price objective on Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a report on Friday, January 30th. Jefferies Financial Group raised their target price on Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $110.00 target price on shares of Axos Financial in a research note on Friday, February 13th.

Axos Financial Stock Up 0.4%

Shares of Axos Financial stock opened at $85.87 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.40. Axos Financial has a 52-week low of $54.46 and a 52-week high of $101.92. The company has a market capitalization of $4.87 billion, a P/E ratio of 10.88 and a beta of 1.27. The company has a 50 day moving average of $93.26 and a 200 day moving average of $87.63.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.18. The company had revenue of $385.09 million for the quarter, compared to the consensus estimate of $345.89 million. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 EPS. As a group, research analysts forecast that Axos Financial will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Derrick Walsh sold 4,846 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $101.21, for a total transaction of $490,463.66. Following the completion of the sale, the executive vice president owned 37,936 shares in the company, valued at approximately $3,839,502.56. The trade was a 11.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James John Court sold 11,163 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $101.01, for a total transaction of $1,127,574.63. Following the completion of the transaction, the director owned 32,169 shares of the company’s stock, valued at approximately $3,249,390.69. The trade was a 25.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 59,303 shares of company stock valued at $5,908,474. 4.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axos Financial

A number of institutional investors and hedge funds have recently bought and sold shares of AX. Corient Private Wealth LLC grew its holdings in shares of Axos Financial by 6.6% during the fourth quarter. Corient Private Wealth LLC now owns 2,696 shares of the company’s stock worth $232,000 after purchasing an additional 168 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Axos Financial by 7.3% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,697 shares of the company’s stock worth $1,008,000 after purchasing an additional 798 shares in the last quarter. Summit Global Investments lifted its holdings in shares of Axos Financial by 35.7% in the 4th quarter. Summit Global Investments now owns 14,203 shares of the company’s stock valued at $1,224,000 after purchasing an additional 3,734 shares during the last quarter. State of Tennessee Department of Treasury boosted its position in shares of Axos Financial by 29.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 31,196 shares of the company’s stock valued at $2,688,000 after purchasing an additional 7,118 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Axos Financial by 22.8% in the 4th quarter. NewEdge Advisors LLC now owns 1,105 shares of the company’s stock valued at $95,000 after purchasing an additional 205 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

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.