Axos Financial (NYSE:AX) Sets New 52-Week High - Should You Buy?

Key Points

• Axos Financial's stock recently achieved a new 52-week high at $89.36, with an average target price from analysts set at $90.86 and rated as a "Moderate Buy."
• The company reported strong quarterly earnings with $1.94 EPS, exceeding estimates, and a revenue increase of 10.5% compared to the previous year.
• Axos Financial's board has authorized a $100 million stock repurchase plan, indicating confidence in the company's value and potential growth.

Axos Financial, Inc (NYSE:AX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $89.36 and last traded at $89.06, with a volume of 19954 shares. The stock had previously closed at $88.05.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AX. DA Davidson boosted their price objective on Axos Financial from $96.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Jefferies Financial Group initiated 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. Wall Street Zen raised Axos Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Keefe, Bruyette & Woods lifted their price target on Axos Financial from $90.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Finally, Needham & Company LLC lifted their price target on Axos Financial from $92.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Axos Financial presently has an average rating of "Moderate Buy" and an average target price of $90.86.

Axos Financial Trading Up 0.8%

The firm has a market cap of $5.01 billion, a PE ratio of 11.90 and a beta of 1.32. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average price of $80.06 and a 200 day moving average price of $70.98.

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

Axos Financial announced that its board has approved a stock repurchase plan on Monday, May 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase 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 Transactions at Axos Financial

In other Axos Financial news, EVP Andrew J. Micheletti sold 13,960 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the completion of the transaction, the executive vice president owned 67,460 shares of the company's stock, valued at approximately $5,759,734.80. This trade represents a 17.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.07% of the company's stock.

Institutional Trading of Axos Financial

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Axos Financial by 94.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the company's stock valued at $517,000 after acquiring an additional 3,901 shares during the last quarter. NewEdge Advisors LLC increased its position in Axos Financial by 1,700.0% during the fourth 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 shares of Axos Financial by 39.2% in the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock valued at $118,000 after purchasing an additional 516 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Axos Financial by 16.0% in the first quarter. Envestnet Asset Management Inc. now owns 50,402 shares of the company's stock valued at $3,252,000 after buying an additional 6,957 shares during the period. Finally, SG Americas Securities LLC bought a new position in Axos Financial during the first quarter worth about $750,000. 83.79% of the stock is owned by 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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