Axos Financial (NYSE:AX) Sets New 12-Month High – Still a Buy?

Axos Financial, Inc (NYSE:AX) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $101.92 and last traded at $101.2250, with a volume of 64395 shares traded. The stock had previously closed at $101.01.

Analyst Ratings Changes

Several analysts have recently commented on the company. Keefe, Bruyette & Woods raised their price target on Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a report on Friday, January 30th. Zacks Research raised Axos Financial from a “hold” rating to a “strong-buy” rating in a report on Monday, February 2nd. Jefferies Financial Group boosted their target price on shares of Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Finally, DA Davidson raised 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, January 30th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $104.50.

Axos Financial Stock Down 2.7%

The firm has a market capitalization of $5.37 billion, a PE ratio of 12.01 and a beta of 1.27. The firm’s 50-day moving average is $91.14 and its 200 day moving average is $86.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.08.

Axos Financial (NYSE:AX) last posted its earnings results on Thursday, January 29th. The company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.18. The firm had revenue of $385.09 million during the quarter, compared to the consensus estimate 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 for the quarter was up 25.1% on a year-over-year basis. During the same period last year, the firm posted $1.82 EPS. As a group, research analysts forecast that Axos Financial, Inc will post 7.22 earnings per share for the current fiscal year.

Insider Transactions at Axos Financial

In other Axos Financial news, Director James John Court sold 11,163 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.01, for a total transaction of $1,127,574.63. Following the sale, the director owned 32,169 shares in the company, valued at approximately $3,249,390.69. This represents a 25.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Derrick Walsh sold 4,846 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $101.21, for a total value of $490,463.66. Following the completion of the sale, the executive vice president owned 37,936 shares in the company, valued at $3,839,502.56. This represents a 11.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 63,593 shares of company stock worth $6,274,883 in the last quarter. Insiders own 4.85% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AX. Salomon & Ludwin LLC purchased a new stake in shares of Axos Financial during the 3rd quarter valued at about $26,000. Eurizon Capital SGR S.p.A. acquired a new stake in Axos Financial in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new stake in Axos Financial in the fourth quarter valued at approximately $28,000. Bessemer Group Inc. raised its stake in shares of Axos Financial by 59.6% during the third quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock valued at $29,000 after purchasing an additional 130 shares during the period. Finally, Brown Brothers Harriman & Co. acquired a new position in shares of Axos Financial during the third quarter worth $29,000. 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.