Axos Financial (NYSE:AX) Given New $94.00 Price Target at Keefe, Bruyette & Woods

Key Points

• Axos Financial's price target has been raised to $94.00 by Keefe, Bruyette & Woods, indicating a potential upside of 10.08% from its current price.
• Despite the optimistic outlook from some analysts, the stock has mixed ratings with one sell, two hold, and five buy ratings, giving it an average rating of "Moderate Buy".
• The company reported $1.94 EPS for the latest quarter, exceeding analyst estimates and showing a 10.5% increase in year-over-year revenue.

Axos Financial (NYSE:AX - Get Free Report) had its price target lifted by analysts at Keefe, Bruyette & Woods from $90.00 to $94.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price target points to a potential upside of 9.80% from the stock's previous close.

AX has been the subject of a number of other reports. Needham & Company LLC increased their price objective on shares of Axos Financial from $88.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Piper Sandler reduced their price objective on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Wall Street Zen cut shares of Axos Financial from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Raymond James Financial raised their target price on shares of Axos Financial from $72.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Jefferies Financial Group initiated coverage on shares of Axos Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, Axos Financial has a consensus rating of "Moderate Buy" and a consensus price target of $90.86.

Axos Financial Price Performance

Shares of NYSE AX traded up $1.20 during mid-day trading on Thursday, reaching $85.61. 366,041 shares of the company were exchanged, compared to its average volume of 396,033. Axos Financial has a 52 week low of $54.46 and a 52 week high of $88.46. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $4.83 billion, a PE ratio of 11.48 and a beta of 1.32. The company's 50 day moving average price is $77.92 and its 200 day moving average price is $70.30.

Axos Financial (NYSE:AX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.12. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. The business had revenue of $321.45 million during the quarter, compared to the consensus estimate of $311.73 million. During the same period in the previous year, the firm posted $1.83 earnings per share. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts forecast that Axos Financial will post 7.22 earnings per share for the current fiscal year.

Axos Financial announced that its Board of Directors has authorized a share repurchase plan on Monday, May 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Axos Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AX. Heck Capital Advisors LLC bought a new stake in shares of Axos Financial in the 4th quarter valued at about $35,000. IFP Advisors Inc grew its position in shares of Axos Financial by 360.7% in the 2nd quarter. IFP Advisors Inc now owns 493 shares of the company's stock worth $37,000 after buying an additional 386 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Axos Financial by 1,700.0% in the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after buying an additional 850 shares during the last quarter. GAMMA Investing LLC grew its position in Axos Financial by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock worth $118,000 after purchasing an additional 516 shares during the last quarter. Finally, Quarry LP purchased a new stake in Axos Financial during the 1st quarter worth approximately $119,000. Institutional investors own 83.79% of the company's stock.

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.