Axos Financial, Inc. (NYSE:AX) Receives Average Rating of “Moderate Buy” from Brokerages

Axos Financial, Inc. (NYSE:AX) has earned an average rating of “Moderate Buy” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $82.71.

Several analysts have recently issued reports on AX shares. Raymond James reiterated an “outperform” rating and set a $72.00 price target (down previously from $80.00) on shares of Axos Financial in a research note on Friday, May 2nd. Jefferies Financial Group began coverage on Axos Financial in a research report on Wednesday, May 21st. They set a “buy” rating and a $90.00 price objective for the company. Piper Sandler cut their price objective on Axos Financial from $84.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Needham & Company LLC reissued a “buy” rating and set a $88.00 price objective on shares of Axos Financial in a research report on Monday. Finally, DA Davidson cut their price objective on Axos Financial from $88.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, May 1st.

Insider Buying and Selling

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $68.09, for a total value of $2,042,700.00. Following the completion of the transaction, the director now owns 113,295 shares of the company’s stock, valued at $7,714,256.55. This represents a 20.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Axos Financial

Several large investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its holdings in shares of Axos Financial by 1.1% in the 1st quarter. New York State Common Retirement Fund now owns 17,143 shares of the company’s stock worth $1,106,000 after buying an additional 181 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Axos Financial by 0.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 29,916 shares of the company’s stock worth $2,090,000 after buying an additional 196 shares in the last quarter. Versor Investments LP raised its holdings in shares of Axos Financial by 5.3% in the 4th quarter. Versor Investments LP now owns 4,000 shares of the company’s stock worth $279,000 after buying an additional 200 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in shares of Axos Financial by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 13,386 shares of the company’s stock worth $864,000 after buying an additional 206 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Axos Financial by 1.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 15,844 shares of the company’s stock worth $1,022,000 after buying an additional 223 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Axos Financial Stock Performance

AX opened at $72.90 on Friday. The company has a market cap of $4.11 billion, a PE ratio of 9.80 and a beta of 1.29. The stock has a 50-day moving average of $65.91 and a 200-day moving average of $68.97. Axos Financial has a 52-week low of $50.93 and a 52-week high of $88.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 1.09.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.07. The company had revenue of $432.72 million during the quarter, compared to the consensus estimate of $305.04 million. Axos Financial had a return on equity of 18.67% and a net margin of 22.10%. During the same quarter in the prior year, the company posted $1.91 EPS. As a group, equities research analysts forecast that Axos Financial will post 7.22 earnings per share for the current fiscal year.

Axos Financial declared that its board has authorized a stock repurchase program on Monday, May 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.