Axos Financial, Inc (NYSE:AX) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Axos Financial, Inc has received a consensus recommendation of "Moderate Buy" from seven analysts, with an average price target of $90.86.
• Recent reports indicate significant changes from analysts, including DA Davidson raising their price target from $96.00 to $100.00, while Needham & Company set a new target at $102.00.
• Insider Andrew J. Micheletti sold 13,960 shares at an average price of $85.38, representing a 17.15% decrease in his ownership position.

Axos Financial, Inc (NYSE:AX - Get Free Report) has received an average recommendation of "Moderate Buy" from the seven ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $90.8571.

Several research firms have recently weighed in on AX. Piper Sandler cut their target price on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Jefferies Financial Group began coverage on shares of Axos Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $90.00 target price for the company. Needham & Company LLC lifted their target price on shares of Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Wall Street Zen raised shares of Axos Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, DA Davidson lifted their target price on shares of Axos Financial from $96.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 31st.

Insider Buying and Selling

In related news, EVP Andrew J. Micheletti sold 13,960 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $85.38, for a total value of $1,191,904.80. Following the completion of the sale, the executive vice president owned 67,460 shares of the company's stock, valued at approximately $5,759,734.80. The trade was a 17.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.07% of the company's stock.

Institutional Investors Weigh In On Axos Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True Wealth Design LLC increased its holdings in Axos Financial by 120.9% in the 2nd quarter. True Wealth Design LLC now owns 433 shares of the company's stock worth $33,000 after acquiring an additional 237 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings 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 buying an additional 333 shares in the last quarter. Heck Capital Advisors LLC purchased a new stake in shares of Axos Financial during the fourth quarter worth $35,000. IFP Advisors Inc grew its holdings in shares of Axos Financial by 360.7% during the second quarter. IFP Advisors Inc now owns 493 shares of the company's stock worth $37,000 after buying an additional 386 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Axos Financial by 1,700.0% during the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after buying an additional 850 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Axos Financial Stock Performance

NYSE AX traded up $4.9830 on Wednesday, hitting $90.8130. 620,645 shares of the company's stock traded hands, compared to its average volume of 357,488. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. Axos Financial has a 1-year low of $54.46 and a 1-year high of $91.17. The firm's 50-day moving average price is $82.72 and its two-hundred day moving average price is $71.93. The firm has a market capitalization of $5.12 billion, a PE ratio of 12.17 and a beta of 1.32.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, beating the consensus estimate of $1.82 by $0.12. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. The business had revenue of $321.45 million during the quarter, compared to analysts' expectations of $311.73 million. During the same period in the previous year, the business posted $1.83 EPS. The business's quarterly revenue was up 10.5% compared to the same quarter last year. As a group, analysts expect that Axos Financial will post 7.22 EPS for the current year.

Axos Financial announced that its Board of Directors has approved a stock repurchase program on Monday, May 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its shares are undervalued.

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.