Axos Financial (NYSE:AX) Stock Breaks Above 50-Day Moving Average – What’s Next?

Axos Financial, Inc (NYSE:AX)’s stock price passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $91.96 and traded as high as $92.82. Axos Financial shares last traded at $92.3450, with a volume of 387,410 shares trading hands.

Analyst Upgrades and Downgrades

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

Axos Financial Stock Performance

The firm has a 50-day moving average price of $91.96 and a 200-day moving average price of $92.43.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.37. The firm had revenue of $379.77 million during the quarter, compared to analyst estimates of $375.54 million. During the same quarter last year, the company earned $1.94 EPS. Sell-side analysts predict that Axos Financial, Inc will post 9.67 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Roque Santi sold 500 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 7,146 shares in the company, valued at approximately $752,473.80. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Axos Financial

Several hedge funds have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Axos Financial during the 2nd quarter worth about $1,281,000. Bullseye Investment Management LLC purchased a new stake in Axos Financial during the second quarter valued at about $1,537,000. Bank of America Corp DE acquired a new position in shares of Axos Financial in the second quarter worth about $16,437,000. BlackRock Inc. acquired a new position in shares of Axos Financial in the second quarter worth about $817,051,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Axos Financial in the second quarter worth about $2,867,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.