Axos Financial (NYSE:AX) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Axos Financial (NYSE:AX) in a report released on Friday morning,Benzinga reports. The brokerage currently has a $107.00 price objective on the stock.

AX has been the subject of several other reports. DA Davidson lifted their price target on Axos Financial from $106.00 to $107.50 and gave the company a “buy” rating in a research report on Monday, December 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Raymond James Financial reiterated an “outperform” rating and set a $100.00 price target (up from $95.00) on shares of Axos Financial in a research report on Tuesday, September 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Axos Financial from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, September 29th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $97.42.

Axos Financial Stock Performance

NYSE AX opened at $94.60 on Friday. The firm has a market cap of $5.36 billion, a P/E ratio of 12.66 and a beta of 1.26. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average is $85.49 and its 200-day moving average is $85.33. Axos Financial has a 12-month low of $54.46 and a 12-month high of $95.81.

Axos Financial (NYSE:AX) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.07 EPS for the quarter, topping the consensus estimate of $1.86 by $0.21. Axos Financial had a net margin of 22.41% and a return on equity of 16.72%. The company had revenue of $323.39 million during the quarter, compared to the consensus estimate of $319.96 million. During the same period last year, the firm earned $1.96 EPS. Sell-side analysts predict that Axos Financial will post 7.22 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Edward James Ratinoff sold 2,145 shares of the stock in a transaction on Friday, December 5th. The shares were sold at an average price of $84.59, for a total value of $181,445.55. Following the transaction, the director owned 46,209 shares of the company’s stock, valued at $3,908,819.31. This represents a 4.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Tamara N. Bohlig sold 2,145 shares of Axos Financial stock in a transaction on Monday, December 8th. The stock was sold at an average price of $86.23, for a total transaction of $184,963.35. Following the sale, the director directly owned 12,919 shares of the company’s stock, valued at $1,114,005.37. This represents a 14.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Axos Financial

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in Axos Financial by 0.9% in the first quarter. Royal Bank of Canada now owns 108,986 shares of the company’s stock worth $7,031,000 after buying an additional 1,015 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Axos Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company’s stock worth $2,099,000 after acquiring an additional 1,429 shares during the last quarter. United Services Automobile Association purchased a new stake in shares of Axos Financial in the 1st quarter valued at $212,000. Strs Ohio bought a new position in shares of Axos Financial during the 1st quarter valued at $194,000. Finally, Pallas Capital Advisors LLC grew its holdings in shares of Axos Financial by 16.0% during the 2nd quarter. Pallas Capital Advisors LLC now owns 4,370 shares of the company’s stock valued at $332,000 after purchasing an additional 602 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Axos Financial Company Profile

Axos Financial, Inc (NYSE: AX) is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.