Axos Financial (NYSE:AX) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group started coverage on shares of Axos Financial (NYSE:AX - Free Report) in a research report report published on Wednesday morning, Marketbeat.com reports. The firm issued a buy rating and a $90.00 price objective on the stock.

Several other brokerages have also weighed in on AX. Raymond James reiterated an "outperform" rating and set a $72.00 target price (down from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. Piper Sandler reduced their price target on Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC restated a "buy" rating and issued a $88.00 price target on shares of Axos Financial in a research note on Thursday, May 1st. Keefe, Bruyette & Woods dropped their target price on shares of Axos Financial from $91.00 to $90.00 and set a "market perform" rating on the stock in a report on Wednesday, January 29th. Finally, DA Davidson cut their price objective on Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $82.71.

Axos Financial Stock Down 0.2%

Shares of Axos Financial stock traded down $0.13 during midday trading on Wednesday, hitting $69.54. The company's stock had a trading volume of 267,513 shares, compared to its average volume of 516,767. The stock has a 50-day simple moving average of $64.42 and a 200-day simple moving average of $69.80. The firm has a market capitalization of $3.92 billion, a P/E ratio of 9.35 and a beta of 1.25. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.20. Axos Financial has a 1-year low of $44.10 and a 1-year high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.07. Axos Financial had a return on equity of 18.67% and a net margin of 22.10%. The business had revenue of $432.72 million during the quarter, compared to analyst estimates of $305.04 million. During the same period in the previous year, the company earned $1.91 EPS. As a group, sell-side analysts expect that Axos Financial will post 7.22 earnings per share for the current year.

Axos Financial announced that its Board of Directors has approved a share repurchase program on Monday, May 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Insider Transactions at Axos Financial

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of the stock in a transaction on 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 completion of the transaction, the director now directly owns 113,295 shares of the company's stock, valued at approximately $7,714,256.55. This represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sara Wardell-Smith bought 3,000 shares of Axos Financial stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $64.73 per share, with a total value of $194,190.00. Following the purchase, the director now directly owns 10,250 shares of the company's stock, valued at approximately $663,482.50. This represents a 41.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.07% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AX. Nuveen LLC purchased a new position in shares of Axos Financial in the 1st quarter worth about $35,240,000. Boston Partners bought a new stake in Axos Financial in the 4th quarter worth approximately $29,918,000. American Century Companies Inc. boosted its stake in Axos Financial by 14.7% in the first quarter. American Century Companies Inc. now owns 2,151,229 shares of the company's stock worth $138,797,000 after buying an additional 276,450 shares in the last quarter. Raymond James Financial Inc. bought a new position in Axos Financial during the fourth quarter valued at approximately $16,464,000. Finally, Voss Capital LP bought a new position in Axos Financial during the first quarter valued at approximately $13,401,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

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.