Wedbush Reaffirms Neutral Rating for Axos Financial (NYSE:AX)

Wedbush restated their neutral rating on shares of Axos Financial (NYSE:AX) in a research note released on Wednesday, Benzinga reports. The firm currently has a $60.00 price target on the stock.

A number of other brokerages have also recently issued reports on AX. Raymond James increased their price objective on Axos Financial from $45.00 to $62.00 and gave the stock an outperform rating in a report on Wednesday, January 31st. StockNews.com raised Axos Financial from a sell rating to a hold rating in a report on Monday, February 5th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $63.33.

Axos Financial Stock Up 9.7 %

AX stock opened at $55.50 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 8.19 and a beta of 1.44. Axos Financial has a fifty-two week low of $32.05 and a fifty-two week high of $60.00. The stock has a fifty day moving average of $51.31 and a 200-day moving average of $48.58.

Axos Financial (NYSE:AX) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.70 by $0.21. The company had revenue of $476.73 million during the quarter, compared to the consensus estimate of $277.85 million. Axos Financial had a return on equity of 17.83% and a net margin of 24.55%. During the same quarter in the prior year, the company earned $1.35 EPS. As a group, equities research analysts predict that Axos Financial will post 6.45 earnings per share for the current year.

Insider Buying and Selling at Axos Financial

In other Axos Financial news, Director Sara Wardell-Smith purchased 5,000 shares of the stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $49.75 per share, with a total value of $248,750.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $248,750. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Axos Financial news, EVP Andrew J. Micheletti sold 1,548 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $51.57, for a total value of $79,830.36. Following the sale, the executive vice president now owns 427,535 shares of the company’s stock, valued at approximately $22,047,979.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sara Wardell-Smith purchased 5,000 shares of the stock in a transaction on Friday, March 15th. The stock was acquired at an average cost of $49.75 per share, for a total transaction of $248,750.00. Following the acquisition, the director now owns 5,000 shares in the company, valued at $248,750. The disclosure for this purchase can be found here. Insiders own 4.82% of the company’s stock.

Hedge Funds Weigh In On Axos Financial

Institutional investors have recently modified their holdings of the company. Qube Research & Technologies Ltd increased its position in shares of Axos Financial by 80.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 142,646 shares of the company’s stock valued at $5,401,000 after purchasing an additional 63,523 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Axos Financial by 9.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 642,062 shares of the company’s stock valued at $24,308,000 after purchasing an additional 56,634 shares during the last quarter. Cerity Partners LLC bought a new position in shares of Axos Financial during the 4th quarter valued at about $260,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Axos Financial during the 3rd quarter valued at about $1,225,000. Finally, Federated Hermes Inc. grew its position in Axos Financial by 960,400.0% during the 3rd quarter. Federated Hermes Inc. now owns 48,025 shares of the company’s stock worth $1,818,000 after acquiring an additional 48,020 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

About Axos Financial

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.