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

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

Several other analysts have also recently commented on AX. Keefe, Bruyette & Woods raised their target price on Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Needham & Company LLC raised their price target on Axos Financial from $107.00 to $110.00 and gave the company a “buy” 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 stock a “buy” rating in a report on Friday. Jefferies Financial Group increased their target price on shares of 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 reissued a “buy (b)” rating on shares of Axos Financial in a research note on Monday, December 29th. One 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 company. According to MarketBeat, Axos Financial presently has a consensus rating of “Buy” and a consensus target price of $104.50.

Axos Financial Stock Performance

AX stock traded up $1.52 during mid-day trading on Monday, reaching $99.30. The company had a trading volume of 24,432 shares, compared to its average volume of 387,614. Axos Financial has a one year low of $54.46 and a one year high of $100.83. The stock has a market capitalization of $5.63 billion, a P/E ratio of 12.60 and a beta of 1.27. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.40. The stock’s 50-day simple moving average is $89.24 and its two-hundred day simple moving average is $86.30.

Axos Financial (NYSE:AX) last released 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 business had revenue of $385.09 million during the quarter, compared to analyst estimates of $345.89 million. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. The company’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.82 earnings per share. Research analysts anticipate that Axos Financial will post 7.22 EPS for the current year.

Insider Transactions at Axos Financial

In related news, Director Edward James Ratinoff sold 2,145 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $84.59, for a total value of $181,445.55. Following the sale, the director directly owned 46,209 shares in the company, valued at $3,908,819.31. The trade was a 4.44% decrease in their position. 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 that occurred on Monday, December 8th. The shares were sold at an average price of $86.23, for a total transaction 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. The disclosure for this sale is available in the SEC filing. 4.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axos Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC lifted its position in Axos Financial by 3.3% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,495 shares of the company’s stock worth $301,000 after buying an additional 113 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of Axos Financial by 59.6% in the third quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock worth $29,000 after acquiring an additional 130 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in Axos Financial by 3.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,889 shares of the company’s stock valued at $329,000 after purchasing an additional 131 shares during the last quarter. Salomon & Ludwin LLC boosted its position in Axos Financial by 43.2% during the fourth quarter. Salomon & Ludwin LLC now owns 441 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in Axos Financial by 1.8% in the second quarter. Cetera Investment Advisers now owns 8,197 shares of the company’s stock valued at $623,000 after purchasing an additional 141 shares in the last quarter. 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.