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

Needham & Company LLC restated their buy rating on shares of Axos Financial (NYSE:AX) in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a $110.00 target price on the stock.

A number of other brokerages have also weighed in on AX. Jefferies Financial Group boosted their price objective 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. Keefe, Bruyette & Woods increased their target price on Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. DA Davidson lifted their target price on Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Finally, Zacks Research raised Axos Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. 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. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $104.50.

Axos Financial Price Performance

AX opened at $81.75 on Monday. The firm has a market cap of $4.63 billion, a PE ratio of 10.36 and a beta of 1.27. The stock has a 50-day moving average price of $92.74 and a 200-day moving average price of $87.35. Axos Financial has a 1 year low of $54.46 and a 1 year high of $101.92. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08.

Axos Financial (NYSE:AX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.07 by $0.18. The business had revenue of $385.09 million during the quarter, compared to analyst estimates of $345.89 million. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. Axos Financial’s revenue was up 25.1% compared to the same quarter last year. During the same period last year, the business earned $1.82 EPS. Sell-side analysts predict that Axos Financial will post 7.22 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Derrick Walsh sold 4,846 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.21, for a total value of $490,463.66. Following the transaction, the executive vice president directly owned 37,936 shares in the company, valued at $3,839,502.56. This trade represents a 11.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James John Court sold 11,163 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $101.01, for a total value of $1,127,574.63. Following the completion of the transaction, the director directly owned 32,169 shares in the company, valued at approximately $3,249,390.69. This represents a 25.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 59,303 shares of company stock valued at $5,908,474 in the last ninety days. 4.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axos Financial

A number of institutional investors and hedge funds have recently made changes to their positions in AX. Salomon & Ludwin LLC purchased a new stake in Axos Financial during the third quarter valued at approximately $26,000. Eurizon Capital SGR S.p.A. purchased a new position in shares of Axos Financial during the 4th quarter worth $26,000. Basepoint Wealth LLC purchased a new position in shares of Axos Financial during the 4th quarter worth $28,000. Bessemer Group Inc. grew its position in shares of Axos Financial by 59.6% during the 3rd 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. Finally, Brown Brothers Harriman & Co. bought a new stake in shares of Axos Financial during the 3rd quarter valued at $29,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

About Axos Financial

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.