Axos Financial (NYSE:AX) Stock Rating Upgraded by Benchmark

Axos Financial (NYSE:AX) was upgraded by investment analysts at Benchmark to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

Other analysts have also issued research reports about the stock. Zacks Research lowered shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price target on shares of Axos Financial in a research note on Monday, March 16th. Weiss Ratings upgraded Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. Finally, Raymond James Financial raised Axos Financial from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the stock from $110.00 to $100.00 in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $110.33.

Axos Financial Stock Performance

Axos Financial stock opened at $96.91 on Wednesday. The company has a market cap of $5.51 billion, a PE ratio of 11.78 and a beta of 1.23. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38. Axos Financial has a 1 year low of $74.89 and a 1 year high of $101.92. The company’s 50-day moving average is $89.80 and its two-hundred day moving average is $90.85.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.23). The business had revenue of $392.25 million for the quarter, compared to analyst estimates of $372.51 million. Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.During the same quarter in the prior year, the firm earned $1.81 EPS. Equities analysts anticipate that Axos Financial will post 8.38 earnings per share for the current year.

Insider Buying and Selling at Axos Financial

In related news, Director Roque A. Santi sold 500 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $87.77, for a total transaction of $43,885.00. Following the sale, the director owned 7,646 shares of the company’s stock, valued at approximately $671,089.42. This trade represents a 6.14% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael James Watson sold 1,653 shares of Axos Financial stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total value of $138,471.81. Following the transaction, the executive vice president owned 4,592 shares in the company, valued at approximately $384,671.84. This represents a 26.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.85% of the stock is owned by insiders.

Institutional Investors Weigh In On Axos Financial

Several large investors have recently modified their holdings of AX. Royal Bank of Canada lifted its holdings in shares of Axos Financial by 0.9% during the 1st quarter. Royal Bank of Canada now owns 108,986 shares of the company’s stock valued at $7,031,000 after purchasing an additional 1,015 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Axos Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company’s stock worth $2,099,000 after purchasing an additional 1,429 shares in the last quarter. United Services Automobile Association acquired a new stake in Axos Financial during the 1st quarter worth approximately $212,000. Cetera Investment Advisers raised its holdings in Axos Financial by 1.8% during the 2nd quarter. Cetera Investment Advisers now owns 8,197 shares of the company’s stock worth $623,000 after buying an additional 141 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new position in Axos Financial in the second quarter valued at approximately $6,252,000. 83.79% of the stock is currently owned by 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.