Piper Sandler Boosts Axos Financial (NYSE:AX) Price Target to $84.00

Axos Financial (NYSE:AX) had its price objective lifted by equities research analysts at Piper Sandler from $68.00 to $84.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 8.25% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods cut shares of Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 target price on the stock. in a report on Wednesday. Wedbush restated a “neutral” rating and issued a $60.00 price objective on shares of Axos Financial in a report on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.25.

Axos Financial Stock Performance

Shares of AX stock opened at $77.60 on Wednesday. The firm has a 50 day moving average of $59.46 and a two-hundred day moving average of $55.51. The stock has a market capitalization of $4.42 billion, a PE ratio of 10.53 and a beta of 1.43. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.20. Axos Financial has a 52 week low of $32.05 and a 52 week high of $79.15.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.80 earnings per share for the quarter, hitting the consensus estimate of $1.80. Axos Financial had a return on equity of 18.57% and a net margin of 24.39%. During the same quarter in the prior year, the business posted $1.50 EPS. On average, research analysts predict that Axos Financial will post 6.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Axos Financial

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in shares of Axos Financial by 114.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 795,381 shares of the company’s stock worth $43,428,000 after buying an additional 423,930 shares during the last quarter. Norges Bank purchased a new stake in Axos Financial in the fourth quarter valued at $21,573,000. Cubist Systematic Strategies LLC boosted its stake in Axos Financial by 167.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 369,759 shares of the company’s stock valued at $20,189,000 after acquiring an additional 231,722 shares in the last quarter. M&G Plc purchased a new position in shares of Axos Financial during the first quarter worth about $8,249,000. Finally, Epoch Investment Partners Inc. acquired a new stake in shares of Axos Financial during the first quarter worth about $7,829,000. 83.79% of the stock is owned by institutional investors and hedge funds.

About Axos Financial

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.