Axos Financial’s (AX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Axos Financial (NYSE:AX) in a research note issued to investors on Friday,Benzinga reports. They currently have a $110.00 price objective on the stock.

A number of other equities research analysts have also weighed in on AX. Jefferies Financial Group upped their target price on shares of Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Zacks Research raised Axos Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. DA Davidson increased their price objective on shares of Axos Financial from $107.50 to $112.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Keefe, Bruyette & Woods upped their target price on Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a report on Friday, January 30th. Finally, Weiss Ratings reissued 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 assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Axos Financial presently has a consensus rating of “Buy” and a consensus price target of $104.50.

Axos Financial Stock Up 2.9%

Shares of NYSE:AX opened at $97.29 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.08. Axos Financial has a 52-week low of $54.46 and a 52-week high of $101.92. The business’s 50 day simple moving average is $91.59 and its two-hundred day simple moving average is $87.00. The firm has a market cap of $5.51 billion, a P/E ratio of 12.33 and a beta of 1.27.

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

Insider Buying and Selling

In other Axos Financial news, Director Tamara N. Bohlig sold 2,145 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $86.23, for a total value of $184,963.35. Following the transaction, the director directly owned 12,919 shares in the company, valued at $1,114,005.37. This represents a 14.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Derrick Walsh sold 4,846 shares of Axos Financial stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $101.21, for a total value of $490,463.66. Following the sale, the executive vice president owned 37,936 shares of the company’s stock, valued at approximately $3,839,502.56. This trade represents a 11.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 63,593 shares of company stock valued at $6,274,883 in the last ninety days. 4.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Axos Financial

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC purchased a new position in shares of Axos Financial in the 3rd quarter valued at approximately $26,000. Eurizon Capital SGR S.p.A. purchased a new position in Axos Financial during the fourth quarter valued at $26,000. Basepoint Wealth LLC purchased a new position in Axos Financial during the fourth quarter valued at $28,000. Bessemer Group Inc. grew its stake in shares of Axos Financial by 59.6% in the third quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock worth $29,000 after acquiring an additional 130 shares during the last quarter. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of Axos Financial in the third quarter worth $29,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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.