Axos Financial (NYSE:AX) Stock Price Crosses Below 200 Day Moving Average - Here's Why

Key Points

• Axos Financial shares fell below their 200-day moving average of $92.43, trading as low as $91.55 and last quoted at $92.42; the stock was down 2.3%.
• Recent quarterly results beat estimates: EPS was $2.34 versus $2.26 expected, revenue reached $395.07 million, and revenue grew 22.2% year over year.
• Analyst sentiment remains positive, with a Moderate Buy consensus and an average price target of $115.67, above the recent share price.

Shares of Axos Financial, Inc (NYSE:AX - Get Free Report) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $92.43 and traded as low as $91.55. Axos Financial shares last traded at $92.42, with a volume of 379,134 shares.

Analysts Set New Price Targets

AX has been the topic of a number of recent analyst reports. Benchmark raised their price target on Axos Financial from $115.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, August 13th. DA Davidson set a $121.00 price objective on Axos Financial in a research note on Friday, July 31st. Keefe, Bruyette & Woods upped their price objective on Axos Financial from $105.00 to $110.00 and gave the stock a "market perform" rating in a research note on Friday, July 31st. Weiss Ratings upgraded Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Finally, Needham & Company LLC reissued a "buy" rating and set a $128.00 target price on shares of Axos Financial in a research note on Monday, October 5th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $115.67.

Axos Financial Trading Down 2.3%

The company has a debt-to-equity ratio of 0.33, a current ratio of 1.07 and a quick ratio of 1.06. The stock's 50-day moving average is $91.36 and its two-hundred day moving average is $92.43. The stock has a market cap of $5.24 billion, a P/E ratio of 10.53 and a beta of 1.31.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.08. Axos Financial had a net margin of 22.33% and a return on equity of 16.75%. The company had revenue of $395.07 million for the quarter, compared to the consensus estimate of $386.30 million. During the same period in the previous year, the firm posted $1.94 EPS. Axos Financial's revenue for the quarter was up 22.2% compared to the same quarter last year. Equities research analysts anticipate that Axos Financial, Inc will post 9.64 EPS for the current year.

Hedge Funds Weigh In On Axos Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AX. Maryland State Retirement & Pension System boosted its stake in shares of Axos Financial by 52.4% during the third quarter. Maryland State Retirement & Pension System now owns 12,611 shares of the company's stock valued at $1,092,000 after purchasing an additional 4,337 shares in the last quarter. Jefferies Financial Group Inc. increased its holdings in Axos Financial by 114.9% during the third quarter. Jefferies Financial Group Inc. now owns 4,700 shares of the company's stock valued at $407,000 after buying an additional 2,513 shares during the period. Illinois Municipal Retirement Fund increased its holdings in Axos Financial by 2.5% during the third quarter. Illinois Municipal Retirement Fund now owns 30,239 shares of the company's stock valued at $2,618,000 after buying an additional 724 shares during the period. Lido Advisors LLC raised its stake in Axos Financial by 13.2% in the third quarter. Lido Advisors LLC now owns 8,494 shares of the company's stock worth $735,000 after buying an additional 991 shares in the last quarter. Finally, Csenge Advisory Group raised its stake in Axos Financial by 4.8% in the third quarter. Csenge Advisory Group now owns 11,916 shares of the company's stock worth $1,032,000 after buying an additional 546 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Axos Financial Company Profile

Axos Financial, Inc is a financial holding company that operates primarily through Axos Bank, a nationwide digital bank. The company provides personal and business banking products, including checking and savings accounts, certificates of deposit, mortgage and home-equity loans, commercial lending, and other deposit and credit services. Its digital-first model allows customers to access accounts and financial services online and through mobile platforms.

Through its institutional businesses, Axos also provides securities clearing, custody, and related brokerage services to registered investment advisers, broker-dealers, and other financial institutions.

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