Axos Financial (NYSE:AX) Sets New 12-Month High – Should You Buy?

Axos Financial, Inc (NYSE:AX)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $93.92 and last traded at $93.7050, with a volume of 57713 shares trading hands. The stock had previously closed at $90.91.

Analysts Set New Price Targets

Several research firms recently commented on AX. Keefe, Bruyette & Woods boosted their target price on Axos Financial from $94.00 to $100.00 and gave the stock a “market perform” rating in a research note on Monday, September 29th. Needham & Company LLC increased their price target on Axos Financial from $105.00 to $107.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Weiss Ratings reissued a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. DA Davidson raised their target price on shares of Axos Financial from $106.00 to $107.50 and gave the company a “buy” rating in a report on Monday, December 8th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $100.00 price target (up previously from $95.00) on shares of Axos Financial in a research note on Tuesday, September 23rd. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Axos Financial presently has a consensus rating of “Moderate Buy” and an average price target of $97.42.

Axos Financial Price Performance

The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 12.34 and a beta of 1.26. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.54. The stock has a fifty day moving average of $84.22 and a 200-day moving average of $84.75.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Thursday, October 30th. The company reported $2.07 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.21. The business had revenue of $323.39 million during the quarter, compared to the consensus estimate of $319.96 million. Axos Financial had a net margin of 22.41% and a return on equity of 16.72%. During the same quarter in the previous year, the firm earned $1.96 EPS. On average, equities research analysts predict that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Axos Financial

In other Axos Financial news, Director Edward James Ratinoff sold 2,145 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $84.59, for a total transaction of $181,445.55. Following the transaction, the director owned 46,209 shares of the company’s stock, valued at approximately $3,908,819.31. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tamara N. Bohlig sold 2,145 shares of Axos Financial stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $86.23, for a total value of $184,963.35. Following the sale, the director owned 12,919 shares in the company, valued at $1,114,005.37. This trade represents a 14.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.85% of the company’s stock.

Institutional Trading of Axos Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC purchased a new position in shares of Axos Financial in the 3rd quarter valued at approximately $26,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Axos Financial during the third quarter worth $29,000. Bessemer Group Inc. grew its position in Axos Financial by 59.6% in the 3rd quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock valued at $29,000 after buying an additional 130 shares during the last quarter. True Wealth Design LLC grew its position in Axos Financial by 120.9% in the 2nd quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $33,000 after buying an additional 237 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in Axos Financial by 294.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock valued at $34,000 after buying an additional 333 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Axos Financial Company Profile

Axos Financial, Inc (NYSE: AX) is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.