Axos Financial (NYSE:AX) Releases Earnings Results, Beats Estimates By $0.08 EPS

Axos Financial (NYSE:AX) released its earnings results on Thursday. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $2.26 by $0.08, FiscalAI reports. The company had revenue of $395.07 million during the quarter, compared to analysts’ expectations of $386.30 million. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.

Axos Financial Stock Up 1.1%

AX traded up $0.97 during trading hours on Thursday, hitting $92.45. 346,770 shares of the company’s stock were exchanged, compared to its average volume of 383,609. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. Axos Financial has a 1-year low of $74.89 and a 1-year high of $105.74. The stock’s 50-day moving average is $91.84 and its two-hundred day moving average is $92.42. The stock has a market cap of $5.26 billion, a price-to-earnings ratio of 10.91 and a beta of 1.28.

Wall Street Analyst Weigh In

Several research firms have weighed in on AX. DA Davidson set a $121.00 target price on Axos Financial in a report on Friday, July 31st. Weiss Ratings upgraded Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Benchmark raised their price target on Axos Financial from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Keefe, Bruyette & Woods lifted their price objective on Axos Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a report on Friday, July 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $128.00 price objective on shares of Axos Financial in a research report on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $115.67.

Insider Activity at Axos Financial

In related news, Director Roque Santi sold 500 shares of the company’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total transaction of $52,650.00. Following the sale, the director owned 7,146 shares in the company, valued at approximately $752,473.80. This represents 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 hyperlink. 4.30% of the stock is currently owned by corporate insiders.

About Axos Financial

Axos Financial, Inc is a financial holding company that operates primarily through Axos Bank, a nationwide digital bank. The company provides personal and business banking products, including checking and savings accounts, certificates of deposit, mortgage and home-equity loans, commercial lending, and other deposit and credit services. Its digital-first model allows customers to access accounts and financial services online and through mobile platforms.

Through its institutional businesses, Axos also provides securities clearing, custody, and related brokerage services to registered investment advisers, broker-dealers, and other financial institutions.