Axos Financial (NYSE:AX) Stock Price Expected to Rise, Benchmark Analyst Says

Key Points

• Benchmark raised Axos Financial’s price target from $115 to $120 and maintained a “buy” rating, implying 18.81% upside. Analysts overall give the stock a “Moderate Buy” consensus with an average target of $115.67.
• Axos reported quarterly adjusted earnings of $2.53 per share, beating expectations of $2.16, while revenue reached $379.77 million versus the $375.54 million consensus estimate.
• Institutional investors continue to show interest, with hedge funds and other institutions owning 83.79% of the stock; however, two company insiders recently sold shares.

Axos Financial (NYSE:AX - Get Free Report) had its price target hoisted by equities research analysts at Benchmark from $115.00 to $120.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. Benchmark's target price indicates a potential upside of 18.81% from the company's current price.

A number of other research firms have also weighed in on AX. Weiss Ratings raised Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. DA Davidson set a $121.00 price target on shares of Axos Financial in a report on Friday, July 31st. Needham & Company LLC raised their price objective on shares of Axos Financial from $110.00 to $128.00 and gave the company a "buy" rating in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Axos Financial from $105.00 to $110.00 and gave the company a "market perform" rating in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Axos Financial presently has a consensus rating of "Moderate Buy" and an average price target of $115.67.

Axos Financial Trading Up 0.9%

Shares of AX stock opened at $101.00 on Thursday. Axos Financial has a fifty-two week low of $74.89 and a fifty-two week high of $105.74. The stock's fifty day moving average price is $95.79 and its two-hundred day moving average price is $92.29. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $5.74 billion, a PE ratio of 11.92 and a beta of 1.22.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.37. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.The company had revenue of $379.77 million during the quarter, compared to analysts' expectations of $375.54 million. During the same period in the previous year, the business earned $1.94 earnings per share. Equities analysts predict that Axos Financial will post 9.59 EPS for the current fiscal year.

Insider Transactions at Axos Financial

In other news, EVP Michael James Watson sold 1,653 shares of the business's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total transaction of $138,471.81. Following the completion of the transaction, the executive vice president owned 4,592 shares of the company's stock, valued at approximately $384,671.84. The trade was a 26.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roque A. Santi sold 500 shares of the company's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total transaction of $52,650.00. Following the completion of the transaction, the director owned 7,146 shares in the company, valued at approximately $752,473.80. This trade represents a 6.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.85% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AX. Davis Asset Management L.P. purchased a new position in shares of Axos Financial in the 2nd quarter worth about $149,515,000. Foyston Gordon & Payne Inc purchased a new position in shares of Axos Financial during the 2nd quarter valued at about $514,000. Quantbot Technologies LP bought a new stake in Axos Financial in the 2nd quarter worth approximately $2,360,000. Evolve Private Wealth LLC bought a new stake in Axos Financial in the 2nd quarter worth approximately $1,400,000. Finally, Orchard Capital Management LLC purchased a new stake in Axos Financial in the second quarter worth approximately $2,190,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Axos Financial Company Profile

Axos Financial, Inc NYSE: AX is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.

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