Axos Financial (NYSE:AX) Given New $90.00 Price Target at Keefe, Bruyette & Woods

Axos Financial (NYSE:AX - Get Free Report) had its price target lifted by investment analysts at Keefe, Bruyette & Woods from $85.00 to $90.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 6.32% from the company's previous close.

Several other analysts have also issued reports on the stock. Piper Sandler reduced 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. Needham & Company LLC boosted their price objective on shares of Axos Financial from $88.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Raymond James Financial boosted their price objective on shares of Axos Financial from $72.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday. DA Davidson reduced 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. Finally, Wall Street Zen lowered shares of Axos Financial from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Axos Financial has an average rating of "Moderate Buy" and an average target price of $85.86.

Axos Financial Price Performance

AX traded down $0.06 on Friday, hitting $84.65. 66,364 shares of the company's stock were exchanged, compared to its average volume of 471,209. Axos Financial has a fifty-two week low of $54.46 and a fifty-two week high of $88.46. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $73.19 and a 200-day moving average price of $68.65. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 11.54 and a beta of 1.29.

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 for the quarter, beating the consensus estimate of $1.74 by $0.07. The firm had revenue of $432.72 million for the quarter, compared to analysts' expectations of $305.04 million. Axos Financial had a net margin of 21.93% and a return on equity of 17.58%. During the same quarter in the previous year, the company posted $1.91 EPS. As a group, equities analysts anticipate that Axos Financial will post 7.22 earnings per share for the current year.

Axos Financial declared that its Board of Directors has approved a share 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 shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Insider Activity at Axos Financial

In other 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 transaction of $2,042,700.00. Following the completion of the transaction, the director directly owned 113,295 shares of the company's stock, valued at approximately $7,714,256.55. The trade was a 20.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.07% of the company's stock.

Hedge Funds Weigh In On Axos Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. Heck Capital Advisors LLC acquired a new position in shares of Axos Financial during the fourth quarter worth about $35,000. NewEdge Advisors LLC increased its stake in Axos Financial by 1,700.0% in the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after purchasing an additional 850 shares during the last quarter. GAMMA Investing LLC increased its stake in Axos Financial by 39.2% in the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock valued at $118,000 after purchasing an additional 516 shares during the last quarter. Quarry LP purchased a new position in Axos Financial in the first quarter valued at approximately $119,000. Finally, US Bancorp DE increased its stake in Axos Financial by 80.7% in the fourth quarter. US Bancorp DE now owns 1,859 shares of the company's stock valued at $130,000 after purchasing an additional 830 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

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.

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