Axos Financial (NYSE:AX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Axos Financial (NYSE:AX - Free Report) from a sell rating to a hold rating in a report issued on Friday.

Other equities research analysts have also issued reports about the company. DA Davidson lowered their price objective on Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Piper Sandler lowered their price objective on Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group started coverage on Axos Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price target on the stock. Raymond James Financial reiterated an "outperform" rating and issued a $72.00 price target (down from $80.00) on shares of Axos Financial in a report on Friday, May 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $88.00 price target on shares of Axos Financial in a report on Monday, June 9th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.71.

Axos Financial Price Performance

Axos Financial stock traded up $0.07 during midday trading on Friday, reaching $76.77. 557,363 shares of the stock traded hands, compared to its average volume of 472,499. The stock's fifty day moving average is $69.63 and its 200-day moving average is $68.24. Axos Financial has a 12 month low of $54.46 and a 12 month high of $88.46. The stock has a market cap of $4.33 billion, a P/E ratio of 10.46 and a beta of 1.29. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.19.

Axos Financial (NYSE:AX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.07. The business had revenue of $432.72 million during the quarter, compared to analyst estimates of $305.04 million. Axos Financial had a return on equity of 17.58% and a net margin of 21.93%. During the same period last year, the company earned $1.91 EPS. As a group, equities research analysts anticipate that Axos Financial will post 7.22 EPS for the current year.

Axos Financial announced that its Board of Directors has authorized a stock repurchase program on Monday, May 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of the firm's stock in a transaction on 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 transaction, the director now directly owns 113,295 shares in the company, valued at $7,714,256.55. This trade represents a 20.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 5.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AX. Heck Capital Advisors LLC purchased a new position in shares of Axos Financial in the 4th quarter valued at $35,000. NewEdge Advisors LLC increased its holdings in 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 period. SRS Capital Advisors Inc. raised its position in Axos Financial by 238.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,097 shares of the company's stock worth $77,000 after buying an additional 773 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Axos Financial by 206.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,261 shares of the company's stock worth $88,000 after buying an additional 849 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Axos Financial by 425.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,509 shares of the company's stock worth $107,000 after buying an additional 1,222 shares during the last quarter. 83.79% of the stock is currently 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.