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

Axos Financial (NYSE:AX - Get Free Report) had its price target raised by investment analysts at Raymond James Financial from $72.00 to $90.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Raymond James Financial's price target suggests a potential upside of 7.12% from the stock's current price.

Several other brokerages also recently weighed in on AX. Wall Street Zen downgraded Axos Financial from a "hold" rating to a "sell" rating in a report on Saturday. DA Davidson decreased their price target on Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Jefferies Financial Group assumed coverage on Axos Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price objective for the company. Piper Sandler dropped their price target on Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Needham & Company LLC upped their target price on Axos Financial from $88.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $85.86.

Axos Financial Trading Up 1.2%

Shares of NYSE:AX traded up $1.02 on Tuesday, hitting $84.02. 113,817 shares of the company's stock were exchanged, compared to its average volume of 471,751. Axos Financial has a 12 month low of $54.46 and a 12 month high of $88.46. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 11.45 and a beta of 1.29. The business's 50 day simple moving average is $71.98 and its two-hundred day simple moving average is $68.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.09 and a quick ratio of 1.09.

Axos Financial (NYSE:AX - Get Free Report) last announced 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. Axos Financial had a return on equity of 17.58% and a net margin of 21.93%. The firm had revenue of $432.72 million for the quarter, compared to analyst estimates of $305.04 million. During the same quarter last year, the firm posted $1.91 earnings per share. Analysts anticipate that Axos Financial will post 7.22 EPS for the current fiscal year.

Axos Financial declared that its board has initiated a stock buyback program on Monday, May 12th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its shares are undervalued.

Insider Transactions at Axos Financial

In related news, Director Paul Grinberg sold 30,000 shares of the 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 transaction, the director owned 113,295 shares of the company's stock, valued at approximately $7,714,256.55. This represents a 20.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.07% of the company's stock.

Hedge Funds Weigh In On Axos Financial

Several hedge funds have recently bought and sold shares of AX. Militia Capital Partners LP raised its position in Axos Financial by 825.0% in the 1st quarter. Militia Capital Partners LP now owns 111,000 shares of the company's stock valued at $7,162,000 after purchasing an additional 99,000 shares in the last quarter. Strs Ohio purchased a new position in Axos Financial during the 1st quarter worth approximately $194,000. Intech Investment Management LLC grew its stake in Axos Financial by 6.8% during the 1st quarter. Intech Investment Management LLC now owns 42,145 shares of the company's stock worth $2,719,000 after buying an additional 2,678 shares during the last quarter. Focus Partners Wealth grew its stake in Axos Financial by 1.1% during the 1st quarter. Focus Partners Wealth now owns 41,165 shares of the company's stock worth $2,656,000 after buying an additional 430 shares during the last quarter. Finally, Optimize Financial Inc grew its stake in shares of Axos Financial by 11.0% in the 1st quarter. Optimize Financial Inc now owns 5,864 shares of the company's stock valued at $378,000 after purchasing an additional 580 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.