Raymond James Financial Reaffirms Outperform Rating for Axos Financial (NYSE:AX)

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Axos Financial (NYSE:AX - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Raymond James Financial in a note issued to investors on Thursday,Benzinga reports. They currently have a $95.00 price objective on the stock, up from their previous price objective of $90.00. Raymond James Financial's price target indicates a potential upside of 10.97% from the company's previous close.

AX has been the subject of several other reports. Keefe, Bruyette & Woods raised their price objective on Axos Financial from $90.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday. Needham & Company LLC upped their price objective on shares of Axos Financial from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday. Jefferies Financial Group began coverage on shares of Axos Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price objective for the company. Wall Street Zen lowered shares of Axos Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Finally, Piper Sandler dropped their price target on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Axos Financial currently has an average rating of "Moderate Buy" and an average price target of $90.86.

Axos Financial Stock Up 1.4%

AX stock traded up $1.20 during trading on Thursday, reaching $85.61. The stock had a trading volume of 366,041 shares, compared to its average volume of 368,916. 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 firm has a fifty day moving average price of $78.25 and a 200 day moving average price of $70.40. The company has a market capitalization of $4.83 billion, a P/E ratio of 11.48 and a beta of 1.32. Axos Financial has a 1-year low of $54.46 and a 1-year high of $88.46.

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

Axos Financial declared that its Board of Directors has initiated a stock repurchase plan on Monday, May 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its shares are undervalued.

Institutional Trading of Axos Financial

Hedge funds have recently bought and sold shares of the stock. Nuveen LLC bought a new stake in shares of Axos Financial in the 1st quarter valued at about $35,240,000. American Century Companies Inc. boosted its position in shares of 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 in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Axos Financial during the 4th quarter worth $16,464,000. Voss Capital LP bought a new stake in shares of Axos Financial during the 1st quarter valued at approximately $13,401,000. Finally, Epoch Investment Partners Inc. increased its holdings in shares of Axos Financial by 255.3% during the fourth quarter. Epoch Investment Partners Inc. now owns 199,662 shares of the company's stock worth $13,946,000 after buying an additional 143,474 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.