Axos Financial (NYSE:AX) Issues Quarterly Earnings Results

Axos Financial (NYSE:AX) posted its earnings results on Wednesday. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.16, Briefing.com reports. Axos Financial had a return on equity of 18.57% and a net margin of 23.96%. The company had revenue of $512.87 million for the quarter, compared to analyst estimates of $299.59 million. During the same period last year, the company earned $1.41 earnings per share.

Axos Financial Stock Up 3.4 %

AX traded up $2.29 during trading hours on Thursday, hitting $68.78. 410,324 shares of the company’s stock were exchanged, compared to its average volume of 574,213. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of 9.34 and a beta of 1.39. Axos Financial has a 1-year low of $32.05 and a 1-year high of $79.15. The stock’s 50-day moving average is $64.89 and its two-hundred day moving average is $61.33. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Insider Transactions at Axos Financial

In other Axos Financial news, EVP Andrew J. Micheletti sold 5,197 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $63.13, for a total value of $328,086.61. Following the completion of the transaction, the executive vice president now directly owns 424,149 shares in the company, valued at $26,776,526.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AX. Piper Sandler raised their target price on Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Wedbush decreased their price target on Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods lowered shares of Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 price objective for the company. in a report on Wednesday, July 31st. Needham & Company LLC boosted their target price on Axos Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Raymond James increased their price target on Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Axos Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.80.

Axos Financial Company Profile

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.