Zacks Investment Research upgraded shares of Axos Financial (NYSE:AX) from a sell rating to a hold rating in a research note published on Tuesday, Zacks.com reports.

According to Zacks, “Axos Financial Inc. is the holding company for BofI Federal Bank, which provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors and selected specialty finance receivables. BofI Federal Bank provides consumer and business banking products. Axos Financial Inc., formerly known as BofI Holding Inc., is based in San Diego, California. “

Other analysts have also recently issued reports about the company. Compass Point upgraded Axos Financial from a neutral rating to a buy rating in a research report on Wednesday, July 31st. ValuEngine upgraded Axos Financial from a strong sell rating to a sell rating in a research report on Thursday, August 1st. Finally, B. Riley set a $33.00 price target on Axos Financial and gave the stock a buy rating in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $38.80.

Shares of NYSE AX opened at $27.53 on Tuesday. The stock’s 50 day moving average price is $26.79 and its two-hundred day moving average price is $28.47. Axos Financial has a 52-week low of $23.87 and a 52-week high of $36.56. The stock has a market capitalization of $1.69 billion, a P/E ratio of 10.01, a PEG ratio of 0.94 and a beta of 1.02. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.34.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.02. The business had revenue of $123.70 million for the quarter, compared to analysts’ expectations of $124.58 million. Axos Financial had a return on equity of 16.79% and a net margin of 23.92%. The business’s quarterly revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 EPS. On average, analysts anticipate that Axos Financial will post 3.01 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Axos Financial by 1.0% during the 2nd quarter. BlackRock Inc. now owns 8,574,826 shares of the company’s stock worth $233,664,000 after purchasing an additional 89,054 shares during the period. Invesco Ltd. raised its position in shares of Axos Financial by 2.4% during the 2nd quarter. Invesco Ltd. now owns 1,102,605 shares of the company’s stock worth $30,046,000 after purchasing an additional 25,626 shares during the period. Northern Trust Corp increased its position in Axos Financial by 11.6% in the 2nd quarter. Northern Trust Corp now owns 916,024 shares of the company’s stock valued at $24,962,000 after acquiring an additional 95,471 shares during the period. Pembroke Management LTD acquired a new stake in Axos Financial in the 2nd quarter valued at approximately $23,490,000. Finally, Bank of New York Mellon Corp increased its position in Axos Financial by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 853,051 shares of the company’s stock valued at $23,246,000 after acquiring an additional 5,461 shares during the period. Institutional investors and hedge funds own 72.46% of the company’s stock.

About Axos Financial

Axos Financial, Inc operates as the holding company for BofI Federal Bank that provides consumer and business banking products in the United States. The company offers deposits products, including consumer and business checking, demand, savings, and time deposit accounts. It also provides single family and multifamily mortgage secured lending products; commercial real estate secured and commercial lending products; specialty finance factoring products; prime loans to customers secured by new and used automobiles; and term unsecured personal loans to individual borrowers, as well as overdraft lines of credit.

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Analyst Recommendations for Axos Financial (NYSE:AX)

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