Axos Financial (NYSE:AX) Price Target Raised to $90.00 at Raymond James Financial

Axos Financial (NYSE:AX - Free Report) had its price objective boosted by Raymond James Financial from $72.00 to $90.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities analysts have also issued reports about the company. DA Davidson lowered their target price on Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Needham & Company LLC boosted their price objective on Axos Financial from $88.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen downgraded Axos Financial from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Jefferies Financial Group started coverage on Axos Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $90.00 target price on the stock. Finally, Piper Sandler reduced their price target 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $85.86.

Axos Financial Stock Performance

Axos Financial stock traded down $0.70 during mid-day trading on Tuesday, reaching $84.01. The company's stock had a trading volume of 369,343 shares, compared to its average volume of 472,284. 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 twelve month low of $54.46 and a twelve month high of $88.46. The business has a 50 day moving average price of $73.52 and a 200-day moving average price of $68.73. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 11.45 and a beta of 1.29.

Axos Financial (NYSE:AX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.74 by $0.07. The business had revenue of $432.72 million during the quarter, compared to analyst estimates of $305.04 million. Axos Financial had a net margin of 21.93% and a return on equity of 17.58%. During the same period in the previous year, the business posted $1.91 EPS. Sell-side analysts predict that Axos Financial will post 7.22 EPS for the current fiscal year.

Axos Financial declared that its board has approved a share buyback plan on Monday, May 12th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 2.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of the company's stock in a transaction that occurred on 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 sale, the director directly owned 113,295 shares in the company, valued at $7,714,256.55. This represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Heck Capital Advisors LLC acquired a new stake in shares of Axos Financial during the 4th quarter valued at $35,000. NewEdge Advisors LLC raised its holdings in shares of Axos Financial by 1,700.0% during the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after acquiring an additional 850 shares in the last quarter. GAMMA Investing LLC boosted its position in Axos Financial by 39.2% during 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 about $119,000. Finally, US Bancorp DE grew 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 in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

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.