AXOS FINANCIAL (NYSE:AX) Stock Rating Upgraded by Wall Street Zen

AXOS FINANCIAL (NYSE:AX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Friday.

AX has been the subject of several other research reports. Jefferies Financial Group initiated coverage on AXOS FINANCIAL in a research note on Wednesday, May 21st. They issued a “buy” rating and a $90.00 target price for the company. Raymond James Financial reaffirmed an “outperform” rating and issued a $72.00 target price (down previously from $80.00) on shares of AXOS FINANCIAL in a research note on Friday, May 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $88.00 target price on shares of AXOS FINANCIAL in a research note on Monday, June 9th. DA Davidson cut their target price on AXOS FINANCIAL from $88.00 to $84.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Piper Sandler cut their target price on AXOS FINANCIAL from $84.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.71.

AXOS FINANCIAL Stock Up 0.1%

AX stock opened at $76.77 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.19. The company’s 50 day moving average is $69.63 and its 200 day moving average is $68.16. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 10.46 and a beta of 1.29. AXOS FINANCIAL has a 1-year low of $54.46 and a 1-year high of $88.46.

AXOS FINANCIAL (NYSE:AX) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.07. The company had revenue of $432.72 million for the quarter, compared to analysts’ expectations of $305.04 million. AXOS FINANCIAL had a net margin of 21.93% and a return on equity of 17.58%. During the same period in the prior year, the business earned $1.91 earnings per share. Sell-side analysts predict that AXOS FINANCIAL will post 7.22 EPS for the current fiscal year.

AXOS FINANCIAL announced that its board has authorized a share repurchase plan on Monday, May 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Activity

In other news, Director Paul Grinberg sold 30,000 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the completion of the sale, the director now owns 113,295 shares of the company’s stock, valued at approximately $7,714,256.55. This represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.07% of the company’s stock.

Institutional Trading of AXOS FINANCIAL

A number of institutional investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC purchased a new stake in AXOS FINANCIAL in the fourth quarter worth $35,000. NewEdge Advisors LLC lifted its stake in AXOS FINANCIAL by 1,700.0% in the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company’s stock worth $63,000 after acquiring an additional 850 shares during the period. SRS Capital Advisors Inc. lifted its stake in AXOS FINANCIAL by 238.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,097 shares of the company’s stock worth $77,000 after acquiring an additional 773 shares during the period. Parkside Financial Bank & Trust lifted its stake in AXOS FINANCIAL by 206.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,261 shares of the company’s stock worth $88,000 after acquiring an additional 849 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in AXOS FINANCIAL by 425.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,509 shares of the company’s stock worth $107,000 after acquiring an additional 1,222 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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.