Axos Financial, Inc (NYSE:AX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Axos Financial, Inc (NYSE:AX) have received a consensus rating of “Buy” from the eight research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $104.50.

AX has been the subject of several recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price objective on shares of Axos Financial in a research report on Monday, March 16th. Zacks Research upgraded shares of Axos Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Jefferies Financial Group increased their price objective on shares of Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, DA Davidson increased their price objective on shares of Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 30th.

Axos Financial Trading Up 1.7%

Shares of NYSE AX opened at $86.83 on Thursday. 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 firm has a 50 day moving average price of $90.47 and a two-hundred day moving average price of $86.77. The stock has a market cap of $4.92 billion, a P/E ratio of 11.01 and a beta of 1.26.

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

Insider Transactions at Axos Financial

In other news, Director James John Court sold 11,163 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $101.01, for a total transaction of $1,127,574.63. Following the completion of the sale, the director directly owned 32,169 shares in the company, valued at $3,249,390.69. This represents a 25.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Derrick Walsh sold 4,846 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.21, for a total transaction 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 59,303 shares of company stock worth $5,908,474 over the last three months. 4.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axos Financial

Large investors have recently bought and sold shares of the stock. Eurizon Capital SGR S.p.A. acquired a new stake in Axos Financial in the fourth quarter worth $26,000. Salomon & Ludwin LLC acquired a new stake in Axos Financial in the third quarter worth $26,000. Basepoint Wealth LLC acquired a new stake in Axos Financial in the fourth quarter worth $28,000. Brown Brothers Harriman & Co. acquired a new stake in Axos Financial in the third quarter worth $29,000. Finally, Bessemer Group Inc. grew its holdings in 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 purchasing an additional 130 shares during the period. 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.