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

Shares of Axos Financial, Inc (NYSE:AX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $82.71.

A number of research 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 Friday. Raymond James Financial reaffirmed an "outperform" rating and set a $72.00 price target (down from $80.00) on shares of Axos Financial in a report on Friday, May 2nd. Piper Sandler lowered their price objective on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and issued a $88.00 target price on shares of Axos Financial in a research report on Monday, June 9th. Finally, Jefferies Financial Group started coverage on shares of Axos Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $90.00 target price on the stock.

Insiders Place Their Bets

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of Axos Financial stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the transaction, the director directly owned 113,295 shares of the company's stock, valued at approximately $7,714,256.55. The trade was a 20.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.07% of the stock is owned by insiders.

Hedge Funds Weigh In On Axos Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Heck Capital Advisors LLC bought a new position in Axos Financial during the 4th quarter worth approximately $35,000. NewEdge Advisors LLC raised its stake in 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 during the last quarter. SRS Capital Advisors Inc. raised its stake in Axos Financial by 238.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,097 shares of the company's stock worth $77,000 after buying an additional 773 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Axos Financial by 206.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,261 shares of the company's stock valued at $88,000 after buying an additional 849 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Axos Financial by 425.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,509 shares of the company's stock valued at $107,000 after acquiring an additional 1,222 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Axos Financial Stock Down 1.0%

AX stock opened at $76.06 on Tuesday. Axos Financial has a 52 week low of $54.46 and a 52 week high of $88.46. The business has a 50-day simple moving average of $69.97 and a 200 day simple moving average of $68.05. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.19. The company has a market cap of $4.29 billion, a PE ratio of 10.36 and a beta of 1.29.

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

Axos Financial announced that its Board of Directors has authorized a stock repurchase program on Monday, May 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is 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.

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