DA Davidson Raises Axos Financial (NYSE:AX) Price Target to $100.00

Key Points

• DA Davidson has raised its price target for Axos Financial from $96.00 to $100.00, indicating a potential upside of 15.85% from the last closing price.
• The company recently reported earnings of $1.94 per share, surpassing analysts' expectations, with revenues increasing by 10.5% year-over-year.
• Axos Financial's Board of Directors has initiated a $100 million share buyback plan, suggesting confidence in the stock's undervaluation.

Axos Financial (NYSE:AX - Free Report) had its target price upped by DA Davidson from $96.00 to $100.00 in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently issued reports on AX. Wall Street Zen cut Axos Financial from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Jefferies Financial Group assumed coverage on Axos Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective for the company. Needham & Company LLC upped their price objective on Axos Financial from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday. Raymond James Financial reaffirmed an "outperform" rating and set a $95.00 price objective (up from $90.00) on shares of Axos Financial in a research report on Thursday. Finally, Keefe, Bruyette & Woods upped their price objective on Axos Financial from $90.00 to $94.00 and gave the stock a "market perform" rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Axos Financial has an average rating of "Moderate Buy" and a consensus target price of $90.86.

Axos Financial Trading Up 0.4%

NYSE:AX traded up $0.30 on Thursday, reaching $84.71. The company's stock had a trading volume of 31,547 shares, compared to its average volume of 393,651. Axos Financial has a 1-year low of $54.46 and a 1-year high of $88.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $4.78 billion, a PE ratio of 11.36 and a beta of 1.32. The business's 50-day moving average price is $77.92 and its two-hundred day moving average price is $70.30.

Axos Financial (NYSE:AX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.12. Axos Financial had a return on equity of 17.11% and a net margin of 22.24%. The firm had revenue of $321.45 million during the quarter, compared to analysts' expectations of $311.73 million. During the same period in the previous year, the firm earned $1.83 earnings per share. The company's revenue was up 10.5% on a year-over-year basis. Equities research analysts anticipate that Axos Financial will post 7.22 earnings per share for the current fiscal year.

Axos Financial declared that its Board of Directors has approved a stock repurchase plan 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 plans are usually a sign that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Axos Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. raised its stake in shares of Axos Financial by 14.7% during the 1st quarter. American Century Companies Inc. now owns 2,151,229 shares of the company's stock worth $138,797,000 after purchasing an additional 276,450 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Axos Financial by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,488,259 shares of the company's stock worth $103,975,000 after purchasing an additional 43,503 shares in the last quarter. Northern Trust Corp raised its stake in shares of Axos Financial by 4.7% during the 4th quarter. Northern Trust Corp now owns 742,837 shares of the company's stock worth $51,887,000 after purchasing an additional 33,207 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Axos Financial by 0.6% during the 1st quarter. Ameriprise Financial Inc. now owns 681,878 shares of the company's stock worth $43,994,000 after purchasing an additional 4,332 shares in the last quarter. Finally, Emerald Advisers LLC raised its stake in shares of Axos Financial by 3.7% during the 2nd quarter. Emerald Advisers LLC now owns 553,591 shares of the company's stock worth $42,095,000 after purchasing an additional 20,005 shares in the last quarter. 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.