AXOS FINANCIAL, INC (NYSE:AX) Receives Average Rating of "Moderate Buy" from 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.

Shares of AXOS FINANCIAL, INC (NYSE:AX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the seven brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $90.8571.

Several equities analysts have issued reports on the company. Wall Street Zen upgraded AXOS FINANCIAL from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. DA Davidson lifted their price objective on AXOS FINANCIAL from $96.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Keefe, Bruyette & Woods lifted their price objective on AXOS FINANCIAL from $90.00 to $94.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Raymond James Financial reiterated an "outperform" rating and issued a $95.00 price objective (up previously from $90.00) on shares of AXOS FINANCIAL in a research report on Thursday, July 31st. Finally, Jefferies Financial Group assumed coverage on AXOS FINANCIAL in a research report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price objective for the company.

AXOS FINANCIAL Stock Performance

Shares of NYSE AX traded up $4.9830 during trading hours on Wednesday, reaching $90.8130. The stock had a trading volume of 620,645 shares, compared to its average volume of 373,307. The business's fifty day moving average is $82.72 and its two-hundred day moving average is $71.92. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 12.17 and a beta of 1.32. AXOS FINANCIAL has a twelve month low of $54.46 and a twelve month high of $91.17.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.12. The business had revenue of $321.45 million during the quarter, compared to analyst estimates of $311.73 million. AXOS FINANCIAL had a return on equity of 17.11% and a net margin of 22.24%.AXOS FINANCIAL's revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.83 earnings per share. As a group, research analysts expect that AXOS FINANCIAL will post 7.22 EPS for the current year.

AXOS FINANCIAL declared that its board has initiated a stock buyback program on Monday, May 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, EVP Andrew J. Micheletti sold 13,960 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the sale, the executive vice president owned 67,460 shares of the company's stock, valued at approximately $5,759,734.80. This trade represents a 17.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.07% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AXOS FINANCIAL

Large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of AXOS FINANCIAL by 94.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the company's stock worth $517,000 after buying an additional 3,901 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of AXOS FINANCIAL by 1,700.0% during the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after buying an additional 850 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of AXOS FINANCIAL by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock worth $118,000 after buying an additional 516 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of AXOS FINANCIAL by 16.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 50,402 shares of the company's stock worth $3,252,000 after buying an additional 6,957 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of AXOS FINANCIAL in the 1st quarter valued at about $750,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.