Axos Financial (NYSE:AX) Given New $100.00 Price Target at DA Davidson

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 - Get Free Report) had its price target upped by stock analysts at DA Davidson from $96.00 to $100.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. DA Davidson's target price indicates a potential upside of 15.85% from the company's previous close.

A number of other analysts also recently commented on the stock. Piper Sandler cut their price objective on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Keefe, Bruyette & Woods boosted their price target on shares of Axos Financial from $90.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday. Raymond James Financial reaffirmed an "outperform" rating and issued a $95.00 price target (up previously from $90.00) on shares of Axos Financial in a report on Thursday. Wall Street Zen downgraded shares of Axos Financial from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Finally, Needham & Company LLC increased their price target on shares of Axos Financial from $92.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $90.86.

Axos Financial Price Performance

NYSE:AX traded up $1.03 on Thursday, reaching $86.32. 599,731 shares of the company's stock traded hands, compared to its average volume of 393,301. Axos Financial has a 12 month low of $54.46 and a 12 month high of $88.46. 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 stock has a 50-day simple moving average of $76.97 and a 200-day simple moving average of $69.97. The firm has a market cap of $4.87 billion, a PE ratio of 11.76 and a beta of 1.29.

Axos Financial (NYSE:AX - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.12. The business had revenue of $321.45 million during the quarter, compared to analyst estimates of $311.73 million. Axos Financial had a return on equity of 17.58% and a net margin of 21.93%. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.83 earnings per share. Equities research analysts forecast that Axos Financial will post 7.22 earnings per share for the current year.

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

Insider Activity

In related news, Director Paul Grinberg sold 30,000 shares of the business's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $68.09, for a total value of $2,042,700.00. Following the completion of the transaction, the director owned 113,295 shares of the company's stock, valued at $7,714,256.55. The trade was a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.07% of the company's stock.

Institutional Trading of Axos Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AX. GAMMA Investing LLC lifted its stake in Axos Financial by 6.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,960 shares of the company's stock valued at $149,000 after acquiring an additional 126 shares in the last quarter. New York State Common Retirement Fund grew its holdings in Axos Financial by 1.1% during the 1st quarter. New York State Common Retirement Fund now owns 17,143 shares of the company's stock valued at $1,106,000 after buying an additional 181 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Axos Financial by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 13,386 shares of the company's stock valued at $864,000 after buying an additional 206 shares in the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Axos Financial by 5.4% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,004 shares of the company's stock valued at $304,000 after acquiring an additional 206 shares during the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in shares of Axos Financial by 1.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 15,844 shares of the company's stock valued at $1,022,000 after acquiring an additional 223 shares during the last quarter. Institutional investors and hedge funds 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.

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