Axos Financial (NYSE:AX) Price Target Raised to $94.00 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 objective raised by equities research 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' target price would indicate a potential upside of 10.08% from the company's current price.

Other equities analysts have also recently issued reports about the company. Jefferies Financial Group initiated coverage on Axos Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price target for the company. DA Davidson decreased their target price on Axos Financial from $88.00 to $84.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC increased their target price on Axos Financial from $88.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Wall Street Zen lowered Axos Financial from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Finally, Piper Sandler decreased their target price on Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. One equities research 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. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $87.86.

Axos Financial Stock Down 0.2%

Shares of NYSE:AX opened at $85.39 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $76.97 and a two-hundred day moving average of $69.97. The stock has a market cap of $4.81 billion, a P/E ratio of 11.63 and a beta of 1.29. Axos Financial has a 52-week low of $54.46 and a 52-week high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.12. The company had revenue of $321.45 million during the quarter, compared to analysts' expectations of $311.73 million. Axos Financial had a return on equity of 17.58% and a net margin of 21.93%. The firm's quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.83 EPS. On average, research analysts expect that Axos Financial will post 7.22 earnings per share for the current 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 Buying and Selling at Axos Financial

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

Institutional Investors Weigh In On Axos Financial

Several hedge funds and other institutional investors have recently made changes to their positions in AX. D.A. Davidson & CO. grew its stake in Axos Financial by 2.0% during the 2nd quarter. D.A. Davidson & CO. now owns 24,414 shares of the company's stock worth $1,856,000 after buying an additional 467 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Axos Financial during the 2nd quarter worth approximately $2,688,000. Mutual Advisors LLC grew its stake in Axos Financial by 20.6% during the 2nd quarter. Mutual Advisors LLC now owns 4,482 shares of the company's stock worth $341,000 after buying an additional 765 shares during the last quarter. TD Asset Management Inc grew its stake in Axos Financial by 5.5% during the 2nd quarter. TD Asset Management Inc now owns 10,968 shares of the company's stock worth $834,000 after buying an additional 573 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in Axos Financial by 5.4% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,004 shares of the company's stock worth $304,000 after buying an additional 206 shares during the last quarter. Institutional investors and hedge funds 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.

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