Axos Financial (NYSE:AX) Sets New 1-Year High - Should You Buy?

Key Points

• A new 52-week high for Axos Financial was reached at $92.72, with the last traded price at $92.50.
• Wall Street analysts are generally positive, with several raising their price targets; Needham & Company increased its target to $102.00 and maintained a "buy" rating.
• Axos Financial reported $1.94 EPS for the last quarter, exceeding estimates and indicating a 10.5% revenue growth year-over-year.

Axos Financial, Inc (NYSE:AX - Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $92.72 and last traded at $92.50, with a volume of 279748 shares changing hands. The stock had previously closed at $91.15.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AX shares. Needham & Company LLC raised their price target on Axos Financial from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Piper Sandler cut their target price on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Keefe, Bruyette & Woods upped their price target on shares of Axos Financial from $90.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Raymond James Financial reissued an "outperform" rating and set a $95.00 price target (up previously from $90.00) on shares of Axos Financial in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Axos Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Axos Financial has an average rating of "Moderate Buy" and a consensus target price of $90.86.

Axos Financial Price Performance

The company has a market cap of $5.23 billion, a PE ratio of 12.40 and a beta of 1.32. The firm's 50-day moving average is $83.98 and its 200-day moving average is $72.32. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.17.

Axos Financial (NYSE:AX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.94 EPS 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 analyst estimates of $311.73 million. During the same period last year, the business posted $1.83 earnings per share. Axos Financial's quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts anticipate that Axos Financial, Inc will post 7.22 EPS for the current year.

Axos Financial announced that its board has authorized a stock buyback plan on Monday, May 12th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Axos Financial news, EVP Andrew J. Micheletti sold 13,960 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $85.38, for a total value of $1,191,904.80. Following the completion of the transaction, the executive vice president owned 67,460 shares in the company, valued at approximately $5,759,734.80. This represents a 17.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.07% of the stock is currently owned by insiders.

Institutional Trading of Axos Financial

A number of hedge funds and other institutional investors have recently modified their holdings of AX. GAMMA Investing LLC increased its stake in shares of Axos Financial by 6.9% during the second quarter. GAMMA Investing LLC now owns 1,960 shares of the company's stock valued at $149,000 after purchasing an additional 126 shares in the last quarter. Cetera Investment Advisers raised its stake in Axos Financial by 1.8% during the second quarter. Cetera Investment Advisers now owns 8,197 shares of the company's stock valued at $623,000 after buying an additional 141 shares during the last quarter. Intech Investment Management LLC boosted its holdings in Axos Financial by 0.3% in the second quarter. Intech Investment Management LLC now owns 42,289 shares of the company's stock worth $3,216,000 after acquiring an additional 144 shares in the last quarter. MAI Capital Management grew its stake in shares of Axos Financial by 10.2% in the second quarter. MAI Capital Management now owns 1,653 shares of the company's stock worth $126,000 after acquiring an additional 153 shares during the last quarter. Finally, Summit Global Investments grew its stake in shares of Axos Financial by 1.6% in the second quarter. Summit Global Investments now owns 9,988 shares of the company's stock worth $759,000 after acquiring an additional 159 shares during 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.

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