Wedbush Comments on Axos Financial, Inc.’s FY2024 Earnings (NYSE:AX)

Axos Financial, Inc. (NYSE:AX) – Analysts at Wedbush raised their FY2024 EPS estimates for shares of Axos Financial in a research note issued to investors on Wednesday, May 1st. Wedbush analyst D. Chiaverini now expects that the company will earn $6.64 per share for the year, up from their previous forecast of $6.46. Wedbush has a “Neutral” rating and a $60.00 price target on the stock. The consensus estimate for Axos Financial’s current full-year earnings is $6.45 per share. Wedbush also issued estimates for Axos Financial’s Q4 2024 earnings at $1.69 EPS, Q1 2025 earnings at $1.76 EPS, Q2 2025 earnings at $1.84 EPS, Q3 2025 earnings at $1.78 EPS, Q4 2025 earnings at $1.88 EPS, FY2025 earnings at $7.35 EPS, Q1 2026 earnings at $2.00 EPS and Q2 2026 earnings at $2.03 EPS.

AX has been the subject of several other research reports. Piper Sandler upped their price objective on Axos Financial from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com upgraded shares of Axos Financial from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $79.00 price target (up previously from $77.00) on shares of Axos Financial in a report on Thursday. Finally, Raymond James increased their price objective on Axos Financial from $45.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.25.

Axos Financial Price Performance

Axos Financial stock opened at $57.51 on Friday. The stock has a 50-day moving average price of $51.48 and a two-hundred day moving average price of $48.69. Axos Financial has a 12 month low of $32.05 and a 12 month high of $60.00. The company has a market capitalization of $3.28 billion, a PE ratio of 7.78 and a beta of 1.42. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.20.

Axos Financial (NYSE:AX) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.21. The company had revenue of $476.73 million for the quarter, compared to the consensus estimate of $277.85 million. Axos Financial had a return on equity of 18.57% and a net margin of 24.39%. During the same quarter last year, the business posted $1.35 EPS.

Insider Transactions at Axos Financial

In related news, EVP Andrew J. Micheletti sold 1,548 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $51.57, for a total transaction of $79,830.36. Following the sale, the executive vice president now owns 427,535 shares in the company, valued at approximately $22,047,979.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Andrew J. Micheletti sold 1,548 shares of Axos Financial stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $51.57, for a total value of $79,830.36. Following the completion of the sale, the executive vice president now owns 427,535 shares in the company, valued at approximately $22,047,979.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sara Wardell-Smith bought 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average cost of $49.75 per share, for a total transaction of $248,750.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $248,750. The disclosure for this purchase can be found here. Corporate insiders own 4.82% of the company’s stock.

Institutional Trading of Axos Financial

Several large investors have recently made changes to their positions in the company. Newbridge Financial Services Group Inc. acquired a new stake in Axos Financial in the 4th quarter valued at $26,000. Investment Research & Advisory Group Inc. acquired a new position in shares of Axos Financial during the first quarter valued at about $27,000. Carmel Capital Partners LLC bought a new stake in shares of Axos Financial during the third quarter worth about $30,000. FinTrust Capital Advisors LLC bought a new stake in shares of Axos Financial during the fourth quarter worth about $44,000. Finally, Covestor Ltd raised its holdings in shares of Axos Financial by 34.1% in the 3rd quarter. Covestor Ltd now owns 1,302 shares of the company’s stock worth $49,000 after acquiring an additional 331 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Axos Financial Company Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.