Needham & Company LLC Reiterates "Buy" Rating for Axos Financial (NYSE:AX)

Axos Financial (NYSE:AX - Get Free Report)'s stock had its "buy" rating reiterated by analysts at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $88.00 price objective on the stock. Needham & Company LLC's price objective would indicate a potential upside of 23.06% from the company's previous close.

Several other equities analysts have also issued reports on AX. Raymond James restated an "outperform" rating and set a $72.00 price target (down from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. Jefferies Financial Group started coverage on shares of Axos Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price target for the company. Piper Sandler cut their price target 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. Finally, DA Davidson lowered their price objective on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Axos Financial currently has a consensus rating of "Moderate Buy" and an average target price of $82.71.

Axos Financial Price Performance

Shares of Axos Financial stock opened at $71.51 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 1.09. Axos Financial has a 52-week low of $50.93 and a 52-week high of $88.46. The company has a fifty day moving average of $65.52 and a 200-day moving average of $69.03. The stock has a market capitalization of $4.03 billion, a price-to-earnings ratio of 9.61 and a beta of 1.29.

Axos Financial (NYSE:AX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.07. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. The business had revenue of $432.72 million during the quarter, compared to the consensus estimate of $305.04 million. During the same period in the previous year, the firm posted $1.91 earnings per share. Equities research analysts expect that Axos Financial will post 7.22 EPS for the current year.

Axos Financial announced that its Board of Directors has approved a stock buyback program on Monday, May 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Axos Financial

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $68.09, for a total value of $2,042,700.00. Following the completion of the transaction, the director now owns 113,295 shares in the company, valued at approximately $7,714,256.55. This represents a 20.94% 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. Insiders own 5.07% of the company's stock.

Institutional Trading of Axos Financial

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Axos Financial by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 6,129,602 shares of the company's stock valued at $428,153,000 after acquiring an additional 49,695 shares during the period. American Century Companies Inc. boosted its position in shares of Axos Financial by 14.7% in the 1st quarter. American Century Companies Inc. now owns 2,151,229 shares of the company's stock worth $138,797,000 after purchasing an additional 276,450 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Axos Financial by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,488,259 shares of the company's stock worth $103,975,000 after buying an additional 43,503 shares during the last quarter. Northern Trust Corp increased its position in Axos Financial by 4.7% during the 4th quarter. Northern Trust Corp now owns 742,837 shares of the company's stock valued at $51,887,000 after buying an additional 33,207 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Axos Financial by 0.6% during the first quarter. Ameriprise Financial Inc. now owns 681,878 shares of the company's stock valued at $43,994,000 after buying an additional 4,332 shares during the last quarter. Institutional investors own 83.79% of the company's stock.

Axos Financial Company Profile

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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