Axos Financial (NYSE:AX) Stock Rating Lowered by Wall Street Zen

Wall Street Zen downgraded shares of Axos Financial (NYSE:AX - Free Report) from a hold rating to a sell rating in a research note published on Saturday.

AX has been the topic of several other reports. Jefferies Financial Group began coverage on shares of Axos Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $90.00 price target on the stock. Raymond James Financial reiterated an "outperform" rating and set a $72.00 price objective (down from $80.00) on shares of Axos Financial in a report on Friday, May 2nd. DA Davidson cut their price objective on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Needham & Company LLC increased their price objective on shares of Axos Financial from $88.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, July 2nd. Finally, Piper Sandler cut their price objective on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $85.86.

Axos Financial Price Performance

NYSE AX traded up $1.26 during trading hours on Friday, reaching $84.26. The company's stock had a trading volume of 415,017 shares, compared to its average volume of 473,490. Axos Financial has a fifty-two week low of $54.46 and a fifty-two week high of $88.46. The stock has a market cap of $4.75 billion, a PE ratio of 11.48 and a beta of 1.29. The company's 50-day moving average is $72.39 and its two-hundred day moving average is $68.45. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.09 and a current ratio of 1.09.

Axos Financial (NYSE:AX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping 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 company had revenue of $432.72 million for the quarter, compared to analysts' expectations of $305.04 million. During the same period last year, the company earned $1.91 EPS. Analysts forecast that Axos Financial will post 7.22 EPS for the current year.

Axos Financial announced that its Board of Directors has initiated a stock buyback plan on Monday, May 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Insider Transactions at Axos Financial

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of the 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 sale, the director owned 113,295 shares of the company's stock, valued at $7,714,256.55. This trade represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.07% of the stock is owned by company insiders.

Institutional Trading of Axos Financial

Several large investors have recently bought and sold shares of the company. Heck Capital Advisors LLC bought a new stake in shares of Axos Financial in the fourth quarter worth $35,000. NewEdge Advisors LLC boosted its holdings in Axos Financial by 1,700.0% in the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after purchasing an additional 850 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Axos Financial by 425.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,509 shares of the company's stock worth $107,000 after purchasing an additional 1,222 shares during the period. GAMMA Investing LLC boosted its holdings in Axos Financial by 39.2% in the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock worth $118,000 after purchasing an additional 516 shares during the period. Finally, Quarry LP acquired a new position in Axos Financial in the first quarter worth $119,000. Institutional investors and hedge funds own 83.79% of the company's stock.

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.