Axos Financial (NYSE:AX) Receives “Buy” Rating from Needham & Company LLC

Axos Financial (NYSE:AX)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports. They currently have a $107.00 price target on the stock. Needham & Company LLC’s target price suggests a potential upside of 14.09% from the company’s current price.

AX has been the topic of a number of other research reports. Keefe, Bruyette & Woods boosted their target price on Axos Financial from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, September 29th. DA Davidson boosted their price objective on Axos Financial from $106.00 to $107.50 and gave the company a “buy” rating in a report on Monday, December 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Axos Financial in a research note on Monday, December 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $100.00 target price (up from $95.00) on shares of Axos Financial in a research report on Tuesday, September 23rd. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $97.42.

Axos Financial Stock Up 1.9%

Shares of NYSE:AX opened at $93.78 on Friday. The company has a market capitalization of $5.31 billion, a price-to-earnings ratio of 12.55 and a beta of 1.26. Axos Financial has a 12-month low of $54.46 and a 12-month high of $94.39. The business has a 50-day moving average price of $85.22 and a 200 day moving average price of $85.20. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.54.

Axos Financial (NYSE:AX) last announced its earnings results on Thursday, October 30th. The company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.21. The company had revenue of $323.39 million during the quarter, compared to analyst estimates of $319.96 million. Axos Financial had a net margin of 22.41% and a return on equity of 16.72%. During the same quarter last year, the firm posted $1.96 earnings per share. Sell-side analysts expect that Axos Financial will post 7.22 EPS for the current year.

Insiders Place Their Bets

In other Axos Financial news, Director Edward James Ratinoff sold 2,145 shares of the stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $84.59, for a total value of $181,445.55. Following the sale, the director owned 46,209 shares of the company’s stock, valued at $3,908,819.31. This trade represents a 4.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tamara N. Bohlig sold 2,145 shares of Axos Financial stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $86.23, for a total value of $184,963.35. Following the completion of the transaction, the director owned 12,919 shares of the company’s stock, valued at $1,114,005.37. The trade was a 14.24% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.85% of the company’s stock.

Institutional Trading of Axos Financial

A number of large investors have recently made changes to their positions in AX. Salomon & Ludwin LLC purchased a new position in Axos Financial in the third quarter worth approximately $26,000. Bessemer Group Inc. raised its holdings in shares of Axos Financial by 59.6% in the 3rd quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares in the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Axos Financial during the 3rd quarter worth $29,000. True Wealth Design LLC lifted its position 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 last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Axos Financial by 294.7% during the second quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after purchasing an additional 333 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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.