Axos Financial (NYSE:AX) Sets New 1-Year High – Here’s Why

Axos Financial, Inc. (NYSE:AX) shares hit a new 52-week high during trading on Monday . The stock traded as high as $87.83 and last traded at $87.52, with a volume of 5717 shares trading hands. The stock had previously closed at $84.66.

Analyst Ratings Changes

Several research analysts have recently weighed in on AX shares. Needham & Company LLC boosted their price target on Axos Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Keefe, Bruyette & Woods upped their target price on shares of Axos Financial from $72.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Raymond James lifted their price target on shares of Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler increased their price objective on shares of Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut shares of Axos Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $79.80.

Axos Financial Stock Down 2.6 %

The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock has a market cap of $4.82 billion, a P/E ratio of 10.21 and a beta of 1.38. The company’s 50 day moving average price is $69.34 and its two-hundred day moving average price is $64.50.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. The firm had revenue of $512.87 million during the quarter, compared to the consensus estimate of $299.59 million. During the same quarter in the previous year, the firm posted $1.41 EPS. Equities analysts forecast that Axos Financial, Inc. will post 7.02 earnings per share for the current year.

Insider Transactions at Axos Financial

In other Axos Financial news, CEO Gregory Garrabrants sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total transaction of $10,236,250.00. Following the sale, the chief executive officer now directly owns 1,340,377 shares of the company’s stock, valued at $109,763,472.53. This trade represents a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew J. Micheletti sold 5,197 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were 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 owns 424,149 shares in the company, valued at $26,776,526.37. The trade was a 1.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 134,199 shares of company stock valued at $10,882,135 over the last quarter. 5.07% of the stock is currently owned by company insiders.

Institutional Trading of Axos Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. World Investment Advisors LLC bought a new position in shares of Axos Financial during the third quarter worth $221,000. Sanctuary Advisors LLC lifted its stake in Axos Financial by 98.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 20,631 shares of the company’s stock worth $1,297,000 after purchasing an additional 10,252 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Axos Financial during the 3rd quarter valued at about $277,000. Geode Capital Management LLC grew its position in shares of Axos Financial by 6.8% during the third quarter. Geode Capital Management LLC now owns 1,444,756 shares of the company’s stock valued at $90,861,000 after purchasing an additional 91,797 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Axos Financial by 32.6% in the third quarter. Barclays PLC now owns 142,715 shares of the company’s stock worth $8,974,000 after purchasing an additional 35,087 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

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.