Zacks Investment Research Downgrades Axos Financial (NYSE:AX) to Hold

Axos Financial (NYSE:AXGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

According to Zacks, “Axos Financial Inc. is the holding company for BofI Federal Bank, which provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors and selected specialty finance receivables. BofI Federal Bank provides consumer and business banking products. Axos Financial Inc., formerly known as BofI Holding Inc., is based in San Diego, California. “

Separately, B. Riley raised shares of Axos Financial from a “neutral” rating to a “buy” rating and set a $62.00 price objective for the company in a report on Friday, January 28th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $58.80.

AX traded down $1.23 during trading on Monday, hitting $40.31. The stock had a trading volume of 466,451 shares, compared to its average volume of 342,967. The company has a market capitalization of $2.40 billion, a PE ratio of 10.66 and a beta of 1.46. Axos Financial has a twelve month low of $39.63 and a twelve month high of $62.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a 50 day simple moving average of $50.13 and a two-hundred day simple moving average of $53.81.

Axos Financial (NYSE:AXGet Rating) last posted its quarterly earnings results on Thursday, January 27th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.06. The business had revenue of $176.36 million during the quarter, compared to analysts’ expectations of $177.54 million. Axos Financial had a net margin of 31.52% and a return on equity of 16.50%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $0.94 earnings per share. On average, equities research analysts anticipate that Axos Financial will post 4.09 EPS for the current year.

In other news, EVP Brian D. Swanson sold 3,699 shares of the business’s stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $48.90, for a total value of $180,881.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas M. Constantine sold 1,421 shares of the business’s stock in a transaction that occurred on Wednesday, March 2nd. The shares were sold at an average price of $54.18, for a total transaction of $76,989.78. The disclosure for this sale can be found here. 4.73% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Strs Ohio purchased a new stake in Axos Financial during the 4th quarter worth approximately $61,000. Financial Management Professionals Inc. purchased a new stake in Axos Financial during the 3rd quarter worth approximately $77,000. USA Financial Portformulas Corp purchased a new stake in Axos Financial during the 4th quarter worth approximately $119,000. Point72 Hong Kong Ltd acquired a new position in Axos Financial during the 4th quarter worth approximately $178,000. Finally, CWM LLC acquired a new position in Axos Financial during the 4th quarter worth approximately $203,000. 77.12% of the stock is currently owned by institutional investors and hedge funds.

About Axos Financial (Get Rating)

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through Banking Business and Securities Business segments. 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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