Axos Financial, Inc (NYSE:AX) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Axos Financial has a consensus “Buy” rating from eight analysts: four buys, two strong buys, and two holds. The average 12-month price target is $114.83, with recent targets ranging from $110 to $128.
• Shares opened at $103.68, down 1.4%, giving the company a market capitalization of approximately $5.9 billion. The stock is near its 52-week high of $105.74 and trades at a price-to-earnings ratio of 12.24.
• Institutional investors own 83.79% of Axos Financial after several funds adjusted their positions, while company insiders own 4.85%; two executives recently reported stock sales.

Axos Financial, Inc (NYSE:AX - Get Free Report) has been given a consensus rating of "Buy" by the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $114.8333.

Several research firms have recently weighed in on AX. Needham & Company LLC increased their price objective on Axos Financial from $110.00 to $128.00 and gave the company a "buy" rating in a report on Friday, July 31st. Keefe, Bruyette & Woods lifted their target price on shares of Axos Financial from $105.00 to $110.00 and gave the company a "market perform" rating in a report on Friday, July 31st. Benchmark initiated coverage on shares of Axos Financial in a research report on Wednesday, July 8th. They issued a "buy" rating and a $115.00 price target for the company. Weiss Ratings upgraded shares of Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 1st. Finally, DA Davidson set a $121.00 price objective on shares of Axos Financial in a research report on Friday, July 31st.

Axos Financial Trading Down 1.4%

NYSE:AX opened at $103.68 on Thursday. The company has a market capitalization of $5.90 billion, a PE ratio of 12.24 and a beta of 1.22. Axos Financial has a 52-week low of $74.89 and a 52-week high of $105.74. The stock's 50 day moving average price is $94.42 and its 200 day moving average price is $92.10. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.24.

Insider Activity

In related news, EVP Michael James Watson sold 1,653 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total transaction of $138,471.81. Following the transaction, the executive vice president owned 4,592 shares of the company's stock, valued at $384,671.84. This trade represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Roque A. Santi sold 500 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $87.77, for a total value of $43,885.00. Following the sale, the director directly owned 7,646 shares of the company's stock, 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. 4.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Axos Financial

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

Axos Financial Company Profile

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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