Axos Financial (NYSE:AX) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Axos Financial (NYSE:AX - Free Report) had its price target lifted by Keefe, Bruyette & Woods from $85.00 to $90.00 in a report published on Friday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the stock.

Several other research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Axos Financial from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Raymond James Financial upped their target price on Axos Financial from $72.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. DA Davidson cut their price target on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Piper Sandler reduced their target price on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, 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 target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $85.86.

Axos Financial Stock Performance

NYSE:AX traded up $1.53 during mid-day trading on Friday, hitting $85.65. 235,093 shares of the company's stock traded hands, compared to its average volume of 470,634. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 11.67 and a beta of 1.29. The firm has a 50 day moving average of $73.52 and a two-hundred day moving average of $68.68. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.19. Axos Financial has a 12 month low of $54.46 and a 12 month high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.07. Axos Financial had a return on equity of 17.58% and a net margin of 21.93%. The company had revenue of $432.72 million during the quarter, compared to analysts' expectations of $305.04 million. During the same period in the prior year, the business earned $1.91 earnings per share. On average, equities analysts forecast that Axos Financial will post 7.22 earnings per share for the current fiscal year.

Axos Financial declared that its board has initiated a stock buyback 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 stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Insider Activity at Axos Financial

In related news, Director Paul Grinberg sold 30,000 shares of Axos Financial stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 5.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axos Financial

Hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC raised its position in Axos Financial by 94.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the company's stock valued at $517,000 after buying an additional 3,901 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of 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 in the last quarter. GAMMA Investing LLC boosted its holdings in Axos Financial by 39.2% during 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 last quarter. Swiss National Bank grew its position in Axos Financial by 0.7% in the fourth quarter. Swiss National Bank now owns 106,400 shares of the company's stock valued at $7,432,000 after purchasing an additional 700 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Axos Financial in the fourth quarter valued at $16,464,000. 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.