Axos Financial (NYSE:AX) Price Target Raised to $68.00 at Piper Sandler

Axos Financial (NYSE:AX) had its price objective increased by Piper Sandler from $65.00 to $68.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities analysts also recently issued reports on the company. Raymond James upped their price target on Axos Financial from $45.00 to $62.00 and gave the stock an outperform rating in a research report on Wednesday, January 31st. Wedbush reiterated a neutral rating and issued a $60.00 target price on shares of Axos Financial in a research report on Wednesday. Finally, StockNews.com upgraded shares of Axos Financial from a sell rating to a hold rating in a research note on Monday, February 5th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Axos Financial currently has a consensus rating of Moderate Buy and a consensus price target of $67.25.

Axos Financial Price Performance

AX opened at $57.53 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average of $51.59 and a 200 day moving average of $48.91. Axos Financial has a 52-week low of $32.05 and a 52-week high of $60.00. The stock has a market cap of $3.28 billion, a P/E ratio of 7.81 and a beta of 1.42.

Axos Financial (NYSE:AX) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.21. Axos Financial had a net margin of 24.39% and a return on equity of 18.57%. The firm had revenue of $476.73 million during the quarter, compared to the consensus estimate of $277.85 million. During the same quarter in the previous year, the firm posted $1.35 earnings per share. As a group, sell-side analysts anticipate that Axos Financial will post 6.61 EPS for the current year.

Insider Transactions at Axos Financial

In other Axos Financial news, Director Sara Wardell-Smith acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average cost of $49.75 per share, with a total value of $248,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $248,750. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Axos Financial news, EVP Andrew J. Micheletti sold 1,548 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $51.57, for a total transaction of $79,830.36. Following the completion of the transaction, the executive vice president now owns 427,535 shares in the company, valued at approximately $22,047,979.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sara Wardell-Smith bought 5,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average price of $49.75 per share, with a total value of $248,750.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $248,750. The disclosure for this purchase can be found here. Insiders own 4.82% of the company’s stock.

Hedge Funds Weigh In On Axos Financial

Several hedge funds have recently made changes to their positions in the company. SummerHaven Investment Management LLC increased its holdings in shares of Axos Financial by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 17,185 shares of the company’s stock valued at $938,000 after purchasing an additional 206 shares during the period. Covestor Ltd raised its holdings in shares of Axos Financial by 34.1% in the third quarter. Covestor Ltd now owns 1,302 shares of the company’s stock worth $49,000 after acquiring an additional 331 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in Axos Financial by 1.6% in the 3rd quarter. D.A. Davidson & CO. now owns 24,403 shares of the company’s stock valued at $924,000 after purchasing an additional 385 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Axos Financial by 1.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,340 shares of the company’s stock worth $959,000 after acquiring an additional 392 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Axos Financial by 8.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,318 shares of the company’s stock worth $290,000 after purchasing an additional 394 shares during the last quarter. Hedge funds and other 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.