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

Needham & Company LLC reaffirmed their buy rating on shares of Axos Financial (NYSE:AX) in a research note published on Monday morning,Benzinga reports. Needham & Company LLC currently has a $110.00 price target on the stock.

A number of other research firms have also recently issued reports on AX. DA Davidson increased their price objective on shares of Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Zacks Research raised Axos Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods increased their price target on Axos Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. Finally, Jefferies Financial Group raised their price objective on Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $104.50.

Axos Financial Stock Down 0.2%

Axos Financial stock opened at $84.50 on Monday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.40. Axos Financial has a 12-month low of $54.46 and a 12-month high of $101.92. The firm’s fifty day moving average is $93.08 and its 200 day moving average is $87.45. The company has a market capitalization of $4.79 billion, a PE ratio of 10.71 and a beta of 1.27.

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

Insider Transactions at Axos Financial

In related news, EVP Derrick Walsh sold 4,846 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $101.21, for a total value of $490,463.66. Following the sale, the executive vice president owned 37,936 shares in the company, valued at $3,839,502.56. This represents a 11.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gregory Garrabrants sold 43,294 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $99.10, for a total transaction of $4,290,435.40. Following the completion of the transaction, the chief executive officer directly owned 1,418,751 shares in the company, valued at approximately $140,598,224.10. The trade was a 2.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 59,303 shares of company stock valued at $5,908,474 over the last three months. Corporate insiders own 4.85% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Corient Private Wealth LLC grew its holdings in Axos Financial by 6.6% during the fourth quarter. Corient Private Wealth LLC now owns 2,696 shares of the company’s stock worth $232,000 after buying an additional 168 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Axos Financial by 7.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 11,697 shares of the company’s stock valued at $1,008,000 after acquiring an additional 798 shares in the last quarter. Summit Global Investments lifted its stake in Axos Financial by 35.7% during the 4th quarter. Summit Global Investments now owns 14,203 shares of the company’s stock valued at $1,224,000 after acquiring an additional 3,734 shares in the last quarter. State of Tennessee Department of Treasury boosted its holdings in Axos Financial by 29.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 31,196 shares of the company’s stock worth $2,688,000 after acquiring an additional 7,118 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Axos Financial by 22.8% during the 4th quarter. NewEdge Advisors LLC now owns 1,105 shares of the company’s stock worth $95,000 after acquiring an additional 205 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

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.