Axos Financial (NYSE:AX) Announces Earnings Results, Beats Expectations By $0.21 EPS

Axos Financial (NYSE:AX - Get Free Report) released its earnings results on Tuesday. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.70 by $0.21, Yahoo Finance reports. The company had revenue of $476.73 million during the quarter, compared to analysts' expectations of $277.85 million. Axos Financial had a return on equity of 17.83% and a net margin of 24.55%. During the same period in the prior year, the business posted $1.35 EPS.

Axos Financial Stock Performance

Shares of NYSE:AX traded up $4.89 during trading on Wednesday, hitting $55.50. 1,101,730 shares of the stock were exchanged, compared to its average volume of 550,357. Axos Financial has a 1-year low of $32.05 and a 1-year high of $60.00. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 8.43 and a beta of 1.44. The company's fifty day simple moving average is $51.31 and its 200-day simple moving average is $48.58. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.07.

Analysts Set New Price Targets

AX has been the topic of several research reports. Piper Sandler upped their price target on Axos Financial from $65.00 to $68.00 and gave the company an "overweight" rating in a research report on Wednesday. Raymond James upped their price target on Axos Financial from $45.00 to $62.00 and gave the company an "outperform" rating in a research report on Wednesday, January 31st. Wedbush reaffirmed a "neutral" rating and issued a $60.00 target price on shares of Axos Financial in a research report on Wednesday. Finally, StockNews.com raised Axos Financial from a "sell" rating to a "hold" rating in a research note on Monday, February 5th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.33.

Insider Buying and Selling

In other news, EVP Andrew J. Micheletti sold 2,500 shares of the business's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $52.89, for a total transaction of $132,225.00. Following the completion of the sale, the executive vice president now owns 422,583 shares in the company, valued at $22,350,414.87. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Andrew J. Micheletti sold 1,548 shares of the company's stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $51.57, for a total transaction of $79,830.36. Following the sale, the executive vice president now owns 427,535 shares in the company, valued at $22,047,979.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew J. Micheletti sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $52.89, for a total value of $132,225.00. Following the completion of the sale, the executive vice president now owns 422,583 shares in the company, valued at approximately $22,350,414.87. The disclosure for this sale can be found here. 4.82% of the stock is owned by corporate insiders.

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.