Axos Financial (NYSE:AX) Price Target Raised to $92.00 at Needham & Company LLC

Axos Financial (NYSE:AX - Free Report) had its price objective upped by Needham & Company LLC from $88.00 to $92.00 in a research report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on AX. DA Davidson reduced 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. Raymond James Financial reaffirmed an "outperform" rating and set a $72.00 target price (down from $80.00) on shares of Axos Financial in a research note on Friday, May 2nd. Wall Street Zen upgraded Axos Financial from a "sell" rating to a "hold" rating in a research report on Friday, June 27th. Piper Sandler cut 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. Finally, Jefferies Financial Group started coverage on shares of Axos Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective on the stock. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Axos Financial has an average rating of "Moderate Buy" and an average price target of $83.29.

Axos Financial Stock Performance

AX stock traded up $0.61 during trading on Wednesday, hitting $83.79. 328,432 shares of the company traded hands, compared to its average volume of 472,855. 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 has a 1 year low of $54.46 and a 1 year high of $88.46. The stock's 50-day simple moving average is $71.15 and its 200 day simple moving average is $68.26. The company has a market cap of $4.72 billion, a PE ratio of 11.42 and a beta of 1.29.

Axos Financial (NYSE:AX - Get Free Report) last released 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 company had revenue of $432.72 million for 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 quarter last year, the business earned $1.91 earnings per share. On average, equities analysts expect that Axos Financial will post 7.22 earnings per share for the current fiscal year.

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

Insider Activity

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of the business's 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 completion of the transaction, the director owned 113,295 shares in the company, valued at $7,714,256.55. The trade was a 20.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 5.07% of the company's stock.

Hedge Funds Weigh In On Axos Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in Axos Financial during the fourth quarter worth approximately $1,264,000. US Bancorp DE raised its holdings in Axos Financial by 80.7% during the fourth quarter. US Bancorp DE now owns 1,859 shares of the company's stock worth $130,000 after purchasing an additional 830 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Axos Financial by 425.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,509 shares of the company's stock worth $107,000 after buying an additional 1,222 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Axos Financial by 238.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,097 shares of the company's stock worth $77,000 after buying an additional 773 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Axos Financial by 4.2% in the 4th quarter. Victory Capital Management Inc. now owns 16,629 shares of the company's stock valued at $1,162,000 after buying an additional 671 shares in 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.