Axos Financial (NYSE:AX) Posts Earnings Results

Key Points

• Axos Financial beat earnings expectations, reporting quarterly EPS of $2.53 versus the $2.16 consensus estimate. The company posted a 22.53% net margin and 16.48% return on equity.
• Shares rose to $98.50 during Thursday trading, near the company’s 12-month high of $102.18. Axos has a $5.60 billion market capitalization and trades at a P/E ratio of 11.97.
• Analyst sentiment remains positive, with the stock carrying an average “Buy” rating and a consensus price target of $110.33; institutional investors own 83.79% of outstanding shares.

Axos Financial (NYSE:AX - Get Free Report) released its quarterly earnings results on Thursday. The company reported $2.53 EPS for the quarter, beating the consensus estimate of $2.16 by $0.37, FiscalAI reports. Axos Financial had a net margin of 22.53% and a return on equity of 16.48%.

Axos Financial Stock Performance

Shares of AX stock traded up $0.32 during trading hours on Thursday, reaching $98.50. 406,456 shares of the company traded hands, compared to its average volume of 400,790. The firm has a 50-day moving average price of $92.85 and a 200 day moving average price of $91.74. The company has a market cap of $5.60 billion, a P/E ratio of 11.97 and a beta of 1.23. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.15 and a quick ratio of 1.15. Axos Financial has a 12-month low of $74.89 and a 12-month high of $102.18.

Insider Activity at Axos Financial

In other Axos Financial news, EVP Michael James Watson sold 1,653 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total transaction of $138,471.81. Following the sale, the executive vice president owned 4,592 shares in the company, valued at approximately $384,671.84. This trade represents a 26.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Roque A. Santi sold 500 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $87.77, for a total transaction of $43,885.00. Following the completion of the transaction, the director owned 7,646 shares of the company's stock, valued at approximately $671,089.42. The trade was a 6.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.85% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AX. Cetera Investment Advisers raised its holdings in Axos Financial by 0.7% during the fourth quarter. Cetera Investment Advisers now owns 16,547 shares of the company's stock valued at $1,426,000 after acquiring an additional 108 shares during the period. Police & Firemen s Retirement System of New Jersey raised its stake in Axos Financial by 0.9% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 14,871 shares of the company's stock valued at $1,281,000 after purchasing an additional 132 shares during the period. Federation des caisses Desjardins du Quebec raised its stake in Axos Financial by 0.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 17,663 shares of the company's stock valued at $1,522,000 after purchasing an additional 146 shares during the period. Lido Advisors LLC lifted its holdings in Axos Financial by 2.5% in the 4th quarter. Lido Advisors LLC now owns 6,150 shares of the company's stock worth $522,000 after purchasing an additional 150 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in Axos Financial by 0.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 25,723 shares of the company's stock worth $2,216,000 after purchasing an additional 161 shares during the period. Institutional investors own 83.79% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on AX. Benchmark assumed coverage on shares of Axos Financial in a report on Wednesday, July 8th. They issued a "buy" rating and a $115.00 price objective on the stock. Zacks Research cut shares of Axos Financial from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 8th. Weiss Ratings upgraded shares of Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 1st. Finally, Raymond James Financial upgraded shares of Axos Financial from an "outperform" rating to a "strong-buy" rating and dropped their price target for the stock from $110.00 to $100.00 in a research note on Tuesday, April 7th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Axos Financial has an average rating of "Buy" and an average target price of $110.33.

Axos Financial Company Profile

Axos Financial, Inc NYSE: AX is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.

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