Axos Financial (NYSE:AX) Upgraded at Zacks Research

Zacks Research upgraded shares of Axos Financial (NYSE:AX) from a hold rating to a strong-buy rating in a research report sent to investors on Monday,Zacks.com reports.

AX has been the subject of several other research reports. Jefferies Financial Group upped their target price on shares of Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, January 30th. Needham & Company LLC raised their price objective on Axos Financial from $107.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Keefe, Bruyette & Woods lifted their target price on Axos Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th. DA Davidson upped their target price on Axos Financial from $107.50 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $104.50.

Axos Financial Trading Up 1.4%

NYSE:AX opened at $99.15 on Monday. Axos Financial has a 1 year low of $54.46 and a 1 year high of $100.83. The stock has a market cap of $5.62 billion, a P/E ratio of 12.57 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50-day simple moving average of $89.58 and a 200-day simple moving average of $86.39.

Axos Financial (NYSE:AX) last issued its earnings results on Thursday, January 29th. The company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.07 by $0.18. The business had revenue of $385.09 million for the quarter, compared to analyst estimates of $345.89 million. Axos Financial had a return on equity of 16.98% and a net margin of 22.66%.The business’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the company earned $1.82 EPS. As a group, analysts anticipate that Axos Financial will post 7.22 earnings per share for the current fiscal year.

Insider Activity at Axos Financial

In other news, Director Tamara N. Bohlig sold 2,145 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $86.23, for a total value of $184,963.35. Following the transaction, the director owned 12,919 shares of the company’s stock, valued at approximately $1,114,005.37. The trade was a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward James Ratinoff sold 2,145 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $84.59, for a total value of $181,445.55. Following the sale, the director owned 46,209 shares of the company’s stock, valued at $3,908,819.31. This trade represents a 4.44% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.85% of the company’s stock.

Institutional Trading of Axos Financial

Several hedge funds and other institutional investors have recently made changes to their positions in AX. Oregon Public Employees Retirement Fund raised its holdings in Axos Financial by 2.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 13,004 shares of the company’s stock worth $1,120,000 after purchasing an additional 300 shares in the last quarter. First Eagle Investment Management LLC increased its position in Axos Financial by 1.8% during the 4th quarter. First Eagle Investment Management LLC now owns 142,287 shares of the company’s stock worth $12,259,000 after purchasing an additional 2,539 shares during the period. Swiss Life Asset Management Ltd raised its stake in shares of Axos Financial by 16.1% during the 4th quarter. Swiss Life Asset Management Ltd now owns 2,847 shares of the company’s stock worth $245,000 after buying an additional 394 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Axos Financial in the 4th quarter valued at approximately $239,000. Finally, Equitable Trust Co. acquired a new stake in shares of Axos Financial in the 4th quarter valued at approximately $396,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

About Axos Financial

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.