Axos Financial (NYSE:AX) Rating Increased to Strong-Buy at Raymond James Financial

Raymond James Financial upgraded shares of Axos Financial (NYSE:AX) from an outperform rating to a strong-buy rating in a research note issued to investors on Tuesday, MarketBeat reports. The firm currently has $100.00 price target on the stock, down from their prior price target of $110.00.

AX has been the topic of a number of other reports. Weiss Ratings reissued a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Keefe, Bruyette & Woods increased their price objective on shares of Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Jefferies Financial Group increased their price objective on shares of Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price objective on shares of Axos Financial in a research report on Monday, March 16th. Finally, Zacks Research raised shares of Axos Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Axos Financial has an average rating of “Buy” and a consensus price target of $104.50.

Axos Financial Price Performance

Axos Financial stock opened at $89.05 on Tuesday. The firm has a market cap of $5.05 billion, a PE ratio of 11.29 and a beta of 1.26. Axos Financial has a 52-week low of $54.65 and a 52-week high of $101.92. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $90.40 and its two-hundred day moving average is $86.77.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.18. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. The company had revenue of $385.09 million for the quarter, compared to the consensus estimate of $345.89 million. During the same period in the prior year, the firm posted $1.82 EPS. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. On average, research analysts expect that Axos Financial will post 7.22 EPS for the current fiscal year.

Insider Activity at Axos Financial

In related news, Director James John Court sold 11,163 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $101.01, for a total value of $1,127,574.63. Following the transaction, the director directly owned 32,169 shares of the company’s stock, valued at $3,249,390.69. This trade represents a 25.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Derrick Walsh sold 4,846 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $101.21, for a total transaction of $490,463.66. Following the completion of the transaction, the executive vice president directly owned 37,936 shares in the company, valued at $3,839,502.56. This trade represents a 11.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 59,303 shares of company stock valued at $5,908,474 in the last ninety days. Insiders own 4.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AX. Rockefeller Capital Management L.P. increased its stake in Axos Financial by 7.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,186 shares of the company’s stock valued at $188,000 after purchasing an additional 146 shares during the period. Corient Private Wealth LLC increased its stake in Axos Financial by 6.6% in the fourth quarter. Corient Private Wealth LLC now owns 2,696 shares of the company’s stock valued at $232,000 after purchasing an additional 168 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Axos Financial by 7.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 11,697 shares of the company’s stock valued at $1,008,000 after purchasing an additional 798 shares during the period. Summit Global Investments increased its stake in Axos Financial by 35.7% in the fourth quarter. Summit Global Investments now owns 14,203 shares of the company’s stock valued at $1,224,000 after purchasing an additional 3,734 shares during the period. Finally, State of Tennessee Department of Treasury increased its stake in Axos Financial by 29.6% in the fourth quarter. State of Tennessee Department of Treasury now owns 31,196 shares of the company’s stock valued at $2,688,000 after purchasing an additional 7,118 shares during the period. 83.79% of the stock is owned by hedge funds and other 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.