Axos Financial, Inc (NYSE:AX) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Axos Financial, Inc. has been assigned a consensus rating of "Moderate Buy" by brokerages, with two hold ratings and five buy ratings contributing to this assessment.
• The company's recent earnings report showed an earnings per share of $1.81, surpassing analyst expectations of $1.74, along with a significant revenue of $432.72 million.
• Axos Financial has authorized a $100 million stock buyback plan, indicating a belief that its shares are undervalued, and it currently has a market capitalization of $4.77 billion.

Axos Financial, Inc (NYSE:AX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $85.86.

AX has been the subject of several analyst reports. Piper Sandler cut their price target 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. Needham & Company LLC lifted their price target on shares of Axos Financial from $88.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Wall Street Zen downgraded shares of Axos Financial from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Keefe, Bruyette & Woods lifted their price target on shares of Axos Financial from $85.00 to $90.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Finally, Jefferies Financial Group initiated coverage on shares of Axos Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price target for the company.

Insider Buying and Selling at Axos Financial

In other news, Director Paul Grinberg sold 30,000 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $68.09, for a total value of $2,042,700.00. Following the completion of the transaction, the director owned 113,295 shares in the company, valued at $7,714,256.55. This represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AX. Heck Capital Advisors LLC acquired a new position in Axos Financial during the fourth quarter valued at approximately $35,000. IFP Advisors Inc boosted its position in Axos Financial by 360.7% during the second quarter. IFP Advisors Inc now owns 493 shares of the company's stock valued at $37,000 after purchasing an additional 386 shares during the last quarter. NewEdge Advisors LLC boosted its position in Axos Financial by 1,700.0% during the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after purchasing an additional 850 shares during the last quarter. GAMMA Investing LLC boosted its position in Axos Financial by 39.2% during the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock valued at $118,000 after purchasing an additional 516 shares during the last quarter. Finally, Quarry LP acquired a new position in Axos Financial during the first quarter valued at approximately $119,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Axos Financial Stock Performance

NYSE AX opened at $84.60 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 11.53 and a beta of 1.29. The company's fifty day moving average is $76.42 and its two-hundred day moving average is $69.71. Axos Financial has a 52-week low of $54.46 and a 52-week high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.07. Axos Financial had a net margin of 21.93% and a return on equity of 17.58%. The business had revenue of $432.72 million for the quarter, compared to analyst estimates of $305.04 million. During the same period in the previous year, the business earned $1.91 EPS. Equities research analysts forecast that Axos Financial will post 7.22 EPS for the current year.

Axos Financial declared that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Axos Financial Company Profile

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.

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