Axos Financial (NYSE:AX) Stock Rating Upgraded by Zacks Research

Axos Financial (NYSE:AX) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Other research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods upped their target price on shares of Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a report on Friday, January 30th. DA Davidson upped their price objective on shares of Axos Financial from $107.50 to $112.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC lifted their target price on Axos Financial from $107.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Jefferies Financial Group upped their target price on Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Axos Financial currently has a consensus rating of “Buy” and a consensus price target of $104.50.

Axos Financial Trading Down 0.6%

NYSE:AX opened at $97.84 on Monday. Axos Financial has a 12-month low of $54.46 and a 12-month high of $100.83. The firm has a market cap of $5.55 billion, a PE ratio of 12.40 and a beta of 1.27. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $89.24 and a 200 day moving average price of $86.30.

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

Insider Buying and Selling

In other news, Director Edward James Ratinoff sold 2,145 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $84.59, for a total transaction of $181,445.55. Following the completion of the sale, the director owned 46,209 shares in the company, valued at $3,908,819.31. This represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tamara N. Bohlig sold 2,145 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $86.23, for a total value of $184,963.35. Following the sale, the director directly owned 12,919 shares of the company’s stock, valued at approximately $1,114,005.37. This represents a 14.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.85% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axos Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC acquired a new position in Axos Financial during the third quarter worth $26,000. Bessemer Group Inc. lifted its holdings in Axos Financial by 59.6% in the third 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. Brown Brothers Harriman & Co. purchased a new stake in shares of Axos Financial during the 3rd quarter worth $29,000. True Wealth Design LLC grew its stake in shares of Axos Financial by 120.9% during the 2nd quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $33,000 after purchasing an additional 237 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Axos Financial by 294.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds 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.