Axos Financial (NYSE:AX) Given Buy Rating at Needham & Company LLC

Axos Financial (NYSE:AX)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They presently have a $110.00 price target on the stock. Needham & Company LLC’s price objective indicates a potential upside of 29.94% from the stock’s current price.

AX has been the subject of a number of other reports. Keefe, Bruyette & Woods boosted their price objective on shares of Axos Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Jefferies Financial Group boosted their price target on shares of Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Zacks Research upgraded Axos Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Finally, DA Davidson boosted their price target on Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. One 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. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $104.50.

Axos Financial Stock Performance

NYSE AX opened at $84.66 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08. Axos Financial has a 1 year low of $54.46 and a 1 year high of $101.92. The stock has a market capitalization of $4.80 billion, a PE ratio of 10.73 and a beta of 1.27. The company’s 50 day simple moving average is $93.17 and its two-hundred day simple moving average is $87.50.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.18. Axos Financial had a return on equity of 16.98% and a net margin of 22.66%.The firm had revenue of $385.09 million during the quarter, compared to the consensus estimate of $345.89 million. During the same quarter last year, the company posted $1.82 EPS. The company’s revenue for the quarter was up 25.1% on a year-over-year basis. Analysts predict that Axos Financial will post 7.22 earnings per share for the current fiscal year.

Insider Transactions at Axos Financial

In other news, Director James John Court sold 11,163 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.01, for a total value of $1,127,574.63. Following the completion of the sale, the director directly owned 32,169 shares in the company, valued at $3,249,390.69. This represents a 25.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gregory Garrabrants sold 43,294 shares of Axos Financial stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $99.10, for a total value 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 59,303 shares of company stock worth $5,908,474 in the last ninety days. Insiders own 4.85% of the company’s stock.

Institutional Investors Weigh In On Axos Financial

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. boosted its holdings in shares of Axos Financial by 198.0% during the 3rd quarter. Franklin Resources Inc. now owns 414,178 shares of the company’s stock valued at $35,060,000 after purchasing an additional 275,191 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Axos Financial by 10.5% in the 2nd quarter. American Century Companies Inc. now owns 2,378,121 shares of the company’s stock worth $180,832,000 after acquiring an additional 226,892 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Axos Financial by 56.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 371,086 shares of the company’s stock valued at $31,973,000 after buying an additional 133,529 shares during the period. Boothbay Fund Management LLC purchased a new stake in Axos Financial in the second quarter worth $9,639,000. Finally, Edgestream Partners L.P. increased its stake in Axos Financial by 199.7% in the 2nd quarter. Edgestream Partners L.P. now owns 165,283 shares of the company’s stock worth $12,568,000 after buying an additional 110,136 shares during the period. 83.79% of the stock is owned by 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.