Axos Financial, Inc (NYSE:AX – Get Free Report) has received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $109.40.
Several analysts have recently weighed in on the company. Raymond James Financial upgraded Axos Financial from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $110.00 to $100.00 in a research note on Tuesday, April 7th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price objective on shares of Axos Financial in a report on Monday, March 16th. Zacks Research downgraded Axos Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Finally, Weiss Ratings downgraded Axos Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 14th.
Get Our Latest Analysis on Axos Financial
Axos Financial Stock Up 0.5%
Axos Financial (NYSE:AX – Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.13 by ($0.23). The business had revenue of $392.25 million for the quarter, compared to analyst estimates of $372.51 million. Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. During the same quarter in the prior year, the business earned $1.81 earnings per share. As a group, equities analysts forecast that Axos Financial will post 8.49 EPS for the current fiscal year.
Insider Buying and Selling
In other Axos Financial news, EVP Michael James Watson sold 1,653 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total transaction of $138,471.81. Following the transaction, the executive vice president owned 4,592 shares of the company’s stock, valued at $384,671.84. This trade represents a 26.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Roque A. Santi sold 500 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $87.77, for a total value of $43,885.00. Following the transaction, the director directly owned 7,646 shares in the company, valued at approximately $671,089.42. This represents a 6.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 4.85% of the company’s stock.
Hedge Funds Weigh In On Axos Financial
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. acquired a new position in Axos Financial in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in Axos Financial in the fourth quarter valued at approximately $28,000. Bessemer Group Inc. boosted its stake in Axos Financial by 59.6% in the third quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock valued at $29,000 after acquiring an additional 130 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Axos Financial in the third quarter valued at approximately $29,000. Finally, State of Wyoming acquired a new position in Axos Financial in the first quarter valued at approximately $30,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.
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.
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