Axos Financial (NYSE:AX) Reaches New 12-Month High Following Analyst Upgrade

Axos Financial, Inc (NYSE:AX)’s share price hit a new 52-week high on Monday after Jefferies Financial Group raised their price target on the stock from $110.00 to $115.00. Jefferies Financial Group currently has a buy rating on the stock. Axos Financial traded as high as $100.05 and last traded at $100.6140, with a volume of 263750 shares traded. The stock had previously closed at $98.99.

Several other brokerages also recently commented on AX. Needham & Company LLC raised their target price on Axos Financial from $107.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. 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. DA Davidson raised their price objective on Axos Financial from $107.50 to $112.00 and gave the company a “buy” rating in a research note on Friday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.50.

Insider Buying and Selling at Axos Financial

In other Axos Financial news, Director Tamara N. Bohlig sold 2,145 shares of Axos Financial stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $86.23, for a total transaction of $184,963.35. Following the transaction, the director owned 12,919 shares of the company’s stock, valued at $1,114,005.37. This trade represents a 14.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward James Ratinoff sold 2,145 shares of the stock in a transaction that occurred 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 sale, the director directly owned 46,209 shares of the company’s stock, valued at $3,908,819.31. The trade was a 4.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.85% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axos Financial

A number of hedge funds have recently made changes to their positions in AX. Franklin Resources Inc. grew its position in Axos Financial by 198.0% during the third quarter. Franklin Resources Inc. now owns 414,178 shares of the company’s stock valued at $35,060,000 after buying an additional 275,191 shares during the period. American Century Companies Inc. boosted its stake in Axos Financial by 10.5% in the second quarter. American Century Companies Inc. now owns 2,378,121 shares of the company’s stock valued at $180,832,000 after acquiring an additional 226,892 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Axos Financial in the second quarter valued at about $9,639,000. Edgestream Partners L.P. grew its position in shares of Axos Financial by 199.7% during the 2nd quarter. Edgestream Partners L.P. now owns 165,283 shares of the company’s stock valued at $12,568,000 after acquiring an additional 110,136 shares during the period. Finally, UBS Group AG increased its stake in shares of Axos Financial by 65.7% during the 3rd quarter. UBS Group AG now owns 267,312 shares of the company’s stock worth $22,628,000 after purchasing an additional 106,003 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Axos Financial Price Performance

The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a market cap of $5.59 billion, a P/E ratio of 12.49 and a beta of 1.27. The business’s fifty day moving average is $88.94 and its 200 day moving average is $86.21.

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

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.