Axos Financial (NYSE:AX) Earns Outperform Rating from Raymond James Financial

Key Points

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Axos Financial (NYSE:AX - Get Free Report)'s stock had its "outperform" rating reissued by investment analysts at Raymond James Financial in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $95.00 price objective on the stock, up from their prior price objective of $90.00. Raymond James Financial's price objective would suggest a potential upside of 12.59% from the stock's previous close.

Several other brokerages have also recently weighed in on AX. Wall Street Zen cut Axos Financial from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. Jefferies Financial Group initiated coverage on Axos Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price target for the company. Keefe, Bruyette & Woods upped their price target on Axos Financial from $90.00 to $94.00 and gave the company a "market perform" rating in a research note on Thursday. Needham & Company LLC upped their price target on Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday. Finally, DA Davidson lowered their price target 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. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $90.86.

Axos Financial Price Performance

Shares of Axos Financial stock traded down $1.97 during trading on Thursday, reaching $84.38. The company's stock had a trading volume of 537,504 shares, compared to its average volume of 342,041. The stock has a market capitalization of $4.76 billion, a P/E ratio of 11.31 and a beta of 1.32. Axos Financial has a one year low of $54.46 and a one year high of $88.46. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average price of $77.92 and a two-hundred day moving average price of $70.31.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.12. The firm had revenue of $321.45 million during the quarter, compared to analysts' expectations of $311.73 million. Axos Financial had a return on equity of 17.11% and a net margin of 22.24%. The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.83 EPS. As a group, sell-side analysts anticipate that Axos Financial will post 7.22 EPS for the current fiscal year.

Axos Financial announced that its board has initiated a share repurchase program on Monday, May 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's board believes its shares are undervalued.

Insider Transactions at Axos Financial

In related news, Director Paul Grinberg sold 30,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 113,295 shares of the company's stock, valued at approximately $7,714,256.55. This represents a 20.94% decrease in their position. 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.

Hedge Funds Weigh In On Axos Financial

A number of large investors have recently bought and sold shares of AX. Nuveen LLC acquired a new position in Axos Financial during the 1st quarter worth approximately $35,240,000. American Century Companies Inc. boosted its position in Axos Financial by 14.7% during the 1st quarter. American Century Companies Inc. now owns 2,151,229 shares of the company's stock worth $138,797,000 after acquiring an additional 276,450 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Axos Financial during the 4th quarter worth approximately $16,464,000. Voss Capital LP acquired a new stake in shares of Axos Financial in the 1st quarter valued at approximately $13,401,000. Finally, Epoch Investment Partners Inc. boosted its holdings in shares of Axos Financial by 255.3% in the 4th quarter. Epoch Investment Partners Inc. now owns 199,662 shares of the company's stock valued at $13,946,000 after buying an additional 143,474 shares during the last quarter. Institutional investors and hedge funds 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.