Axos Financial (NYSE:AX) Stock Rating Lowered by StockNews.com

Axos Financial (NYSE:AX) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

AX has been the subject of several other reports. Needham & Company LLC increased their price objective on shares of Axos Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods lifted their price target on Axos Financial from $72.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. Raymond James boosted their price objective on Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler raised their target price on Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Wedbush dropped their price target on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $79.80.

Axos Financial Stock Performance

Shares of AX opened at $80.63 on Thursday. The firm has a fifty day moving average of $65.49 and a 200-day moving average of $62.36. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 9.76 and a beta of 1.38. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.08 and a current ratio of 1.08. Axos Financial has a 1 year low of $32.05 and a 1 year high of $82.95.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. The company had revenue of $512.87 million for the quarter, compared to analysts’ expectations of $299.59 million. During the same quarter in the previous year, the company posted $1.41 earnings per share. As a group, equities analysts anticipate that Axos Financial will post 7.02 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Gregory Garrabrants sold 125,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total transaction of $10,236,250.00. Following the transaction, the chief executive officer now directly owns 1,340,377 shares in the company, valued at $109,763,472.53. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Andrew J. Micheletti sold 5,197 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $63.13, for a total transaction of $328,086.61. Following the transaction, the executive vice president now owns 424,149 shares of the company’s stock, valued at approximately $26,776,526.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory Garrabrants sold 125,000 shares of Axos Financial stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total transaction of $10,236,250.00. Following the completion of the sale, the chief executive officer now owns 1,340,377 shares of the company’s stock, valued at $109,763,472.53. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by corporate insiders.

Institutional Trading of Axos Financial

Several large investors have recently made changes to their positions in AX. Advisors Asset Management Inc. raised its position in shares of Axos Financial by 33.9% in the third quarter. Advisors Asset Management Inc. now owns 1,961 shares of the company’s stock valued at $123,000 after purchasing an additional 496 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Axos Financial in the 3rd quarter valued at $1,641,000. Natixis Advisors LLC raised its holdings in Axos Financial by 14.9% in the 3rd quarter. Natixis Advisors LLC now owns 21,030 shares of the company’s stock worth $1,322,000 after acquiring an additional 2,727 shares during the period. Empowered Funds LLC acquired a new position in Axos Financial during the 3rd quarter worth $800,000. Finally, Geneva Capital Management LLC boosted its holdings in Axos Financial by 0.3% during the third quarter. Geneva Capital Management LLC now owns 708,520 shares of the company’s stock valued at $44,552,000 after acquiring an additional 1,976 shares during the period. Institutional investors 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.