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

Key Points

• Axos Financial has a consensus “Moderate Buy” rating from seven brokerages, with four buy ratings, one strong buy, and two hold ratings. The average 12-month price target is $109.40.
• Recent analyst actions were mixed: Raymond James upgraded the stock to strong-buy while trimming its target to $100, Zacks downgraded it to hold, and Needham reiterated a buy with a $110 target.
• The company reported Q1 earnings of $1.90 per share, missing estimates, even though revenue came in above expectations at $392.25 million. Shares were trading around $89.49, below the analysts’ average target.

Shares of Axos Financial, Inc (NYSE:AX - Get Free Report) have received a consensus rating of "Moderate Buy" from the seven brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $109.40.

A number of equities research analysts have recently commented on the stock. Raymond James Financial raised shares of Axos Financial from an "outperform" rating to a "strong-buy" rating and reduced their price objective for the company from $110.00 to $100.00 in a research note on Tuesday, April 7th. Zacks Research lowered shares of Axos Financial from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 8th. Needham & Company LLC reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Axos Financial in a research note on Monday, March 16th. Finally, Weiss Ratings lowered shares of Axos Financial from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 14th.

Insiders Place Their Bets

In other news, EVP Michael James Watson sold 1,653 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total value of $138,471.81. Following the sale, the executive vice president directly owned 4,592 shares of the company's stock, valued at approximately $384,671.84. This represents a 26.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Roque A. Santi sold 500 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $87.77, for a total transaction of $43,885.00. Following the completion of the sale, the director directly owned 7,646 shares in the company, valued at approximately $671,089.42. This represents a 6.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 4.85% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its holdings in Axos Financial by 1.5% during the third quarter. American Century Companies Inc. now owns 2,413,512 shares of the company's stock worth $204,304,000 after buying an additional 35,391 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Axos Financial by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 330,886 shares of the company's stock worth $28,010,000 after buying an additional 50,902 shares during the last quarter. Stieven Capital Advisors L.P. raised its holdings in Axos Financial by 8.0% during the fourth quarter. Stieven Capital Advisors L.P. now owns 255,859 shares of the company's stock worth $22,045,000 after buying an additional 18,900 shares during the last quarter. Jackson Creek Investment Advisors LLC raised its holdings in Axos Financial by 714.0% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 20,725 shares of the company's stock worth $1,786,000 after buying an additional 18,179 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Axos Financial during the third quarter worth $688,000. 83.79% of the stock is owned by institutional investors.

Axos Financial Trading Down 0.9%

AX opened at $89.49 on Tuesday. Axos Financial has a fifty-two week low of $69.25 and a fifty-two week high of $101.92. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.15 and a quick ratio of 1.15. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 10.87 and a beta of 1.24. The company's 50 day moving average price is $89.77 and its two-hundred day moving average price is $89.63.

Axos Financial (NYSE:AX - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $1.90 earnings per share for the quarter, missing analysts' consensus estimates of $2.13 by ($0.23). Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.The business had revenue of $392.25 million for the quarter, compared to the consensus estimate of $372.51 million. During the same period in the previous year, the firm earned $1.81 earnings per share. As a group, research analysts predict that Axos Financial will post 8.49 earnings per share for the current year.

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.

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