Axos Financial’s (AX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Axos Financial (NYSE:AX) in a report published on Thursday,Benzinga reports. Needham & Company LLC currently has a $85.00 price target on the stock.

Several other brokerages also recently weighed in on AX. Wedbush lowered their price objective on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods upped their price target on shares of Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, StockNews.com raised shares of Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Axos Financial has an average rating of “Moderate Buy” and an average target price of $83.20.

Axos Financial Stock Performance

NYSE:AX opened at $68.97 on Thursday. The company has a market capitalization of $3.94 billion, a P/E ratio of 8.35 and a beta of 1.46. The business has a fifty day simple moving average of $76.75 and a two-hundred day simple moving average of $68.93. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. Axos Financial has a 1 year low of $44.10 and a 1 year high of $88.46.

Axos Financial (NYSE:AX) last announced 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 return on equity of 18.99% and a net margin of 24.07%. The business had revenue of $512.87 million for the quarter, compared to analysts’ expectations of $299.59 million. During the same period in the previous year, the business posted $1.41 EPS. On average, analysts expect that Axos Financial will post 7.07 earnings per share for the current year.

Insider Activity at Axos Financial

In other news, Director Edward James Ratinoff sold 4,002 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $79.41, for a total value of $317,798.82. Following the completion of the transaction, the director now owns 46,209 shares in the company, valued at $3,669,456.69. This trade represents a 7.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total value of $10,236,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. The trade was a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by company insiders.

Institutional Trading of Axos Financial

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Axos Financial by 34.2% during the 4th quarter. GAMMA Investing LLC now owns 1,318 shares of the company’s stock valued at $92,000 after acquiring an additional 336 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Axos Financial by 12.9% during the third quarter. JPMorgan Chase & Co. now owns 281,658 shares of the company’s stock valued at $17,711,000 after purchasing an additional 32,095 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Axos Financial by 27.9% in the 3rd quarter. Principal Financial Group Inc. now owns 320,717 shares of the company’s stock worth $20,167,000 after purchasing an additional 70,017 shares in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Axos Financial in the 3rd quarter worth approximately $221,000. Finally, Sanctuary Advisors LLC increased its position in Axos Financial by 98.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 20,631 shares of the company’s stock valued at $1,297,000 after buying an additional 10,252 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

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.