Axos Financial (NYSE:AX) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Axos Financial (NYSE:AX) in a report issued on Monday,Benzinga reports. The firm currently has a $128.00 price target on the stock.

A number of other equities analysts have also recently issued reports on the company. DA Davidson set a $121.00 price objective on Axos Financial in a report on Friday, July 31st. Benchmark increased their target price on Axos Financial from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Weiss Ratings lowered Axos Financial from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, September 24th. Finally, Keefe, Bruyette & Woods lifted their target price on Axos Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Axos Financial presently has an average rating of “Moderate Buy” and an average price target of $115.67.

Axos Financial Stock Performance

Axos Financial stock opened at $88.63 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $5.04 billion, a P/E ratio of 10.46 and a beta of 1.28. Axos Financial has a 1-year low of $74.89 and a 1-year high of $105.74. The company’s 50-day moving average is $95.58 and its 200 day moving average is $92.58.

Axos Financial (NYSE:AX) last announced its earnings results on Thursday, July 30th. The company reported $2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.37. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.The business had revenue of $379.77 million during the quarter, compared to analyst estimates of $375.54 million. During the same quarter in the previous year, the business earned $1.94 earnings per share. Research analysts forecast that Axos Financial will post 9.69 EPS for the current year.

Insider Activity at Axos Financial

In other news, Director Roque Santi sold 500 shares of Axos Financial stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.30, for a total transaction of $52,650.00. Following the completion of the sale, the director owned 7,146 shares of the company’s stock, valued at approximately $752,473.80. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in Axos Financial by 18.9% during the 3rd quarter. Versant Capital Management Inc now owns 842 shares of the company’s stock worth $73,000 after purchasing an additional 134 shares during the period. Cim Investment Management Inc. lifted its holdings in shares of Axos Financial by 7.9% in the 2nd quarter. Cim Investment Management Inc. now owns 4,571 shares of the company’s stock worth $445,000 after buying an additional 336 shares during the period. Bullseye Investment Management LLC purchased a new stake in shares of Axos Financial in the 2nd quarter worth $1,537,000. Tidal Investments LLC bought a new position in shares of Axos Financial during the 2nd quarter worth $215,000. Finally, Engineers Gate Manager LP grew its position in shares of Axos Financial by 6.0% during the 2nd quarter. Engineers Gate Manager LP now owns 11,663 shares of the company’s stock worth $1,136,000 after buying an additional 661 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

About Axos Financial

Axos Financial, Inc is the holding company for Axos Bank, a nationwide digital bank that provides banking and financial services to consumers and businesses. The company operates primarily through online and mobile platforms, allowing it to serve customers across the United States without relying on a traditional branch network.

Axos Bank offers personal banking products such as checking and savings accounts, certificates of deposit, mortgages, personal loans and other consumer lending products.