Axos Financial (NYSE:AX) Price Target Raised to $100.00

Axos Financial (NYSE:AX) had its price objective increased by DA Davidson from $96.00 to $100.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

AX has been the topic of a number of other reports. Raymond James Financial reiterated an “outperform” rating and set a $95.00 price objective (up from $90.00) on shares of Axos Financial in a research note on Thursday. Wall Street Zen downgraded shares of Axos Financial from a “hold” rating to a “sell” rating in a research note on Saturday, July 5th. Keefe, Bruyette & Woods increased their price objective on shares of Axos Financial from $90.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday. Jefferies Financial Group started coverage on shares of Axos Financial in a research note on Wednesday, May 21st. They set a “buy” rating and a $90.00 price objective on the stock. Finally, Needham & Company LLC increased their price objective on shares of Axos Financial from $92.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.86.

Axos Financial Price Performance

Shares of AX stock opened at $84.38 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $4.76 billion, a P/E ratio of 11.31 and a beta of 1.32. The company’s 50-day simple moving average is $77.92 and its two-hundred day simple moving average is $70.31. Axos Financial has a one year low of $54.46 and a one year high of $88.46.

Axos Financial (NYSE:AX) last issued its earnings results on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.12. The business had revenue of $321.45 million for the quarter, compared to the consensus estimate of $311.73 million. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.83 EPS. As a group, equities analysts anticipate that Axos Financial will post 7.22 EPS for the current year.

Axos Financial announced that its Board of Directors has authorized a stock buyback plan on Monday, May 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $68.09, for a total value of $2,042,700.00. Following the completion of the sale, the director directly owned 113,295 shares in the company, valued at $7,714,256.55. This trade represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.07% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AX. Heck Capital Advisors LLC purchased a new position in shares of Axos Financial in the fourth quarter worth $35,000. IFP Advisors Inc raised its holdings in shares of Axos Financial by 360.7% during the second quarter. IFP Advisors Inc now owns 493 shares of the company’s stock worth $37,000 after purchasing an additional 386 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Axos Financial by 1,700.0% during the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company’s stock worth $63,000 after purchasing an additional 850 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Axos Financial by 39.2% during the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company’s stock worth $118,000 after purchasing an additional 516 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Axos Financial during the first quarter worth $119,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

About Axos Financial

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.