Axos Financial (NYSE:AX) Hits New 1-Year High – Still a Buy?

Axos Financial, Inc (NYSE:AX) reached a new 52-week high during trading on Wednesday . The stock traded as high as $96.25 and last traded at $96.1090, with a volume of 29972 shares traded. The stock had previously closed at $92.96.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Raymond James Financial reissued an “outperform” rating and issued a $100.00 target price (up previously from $95.00) on shares of Axos Financial in a research note on Tuesday, September 23rd. Keefe, Bruyette & Woods increased their price objective on shares of Axos Financial from $94.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, September 29th. DA Davidson boosted their target price on Axos Financial from $106.00 to $107.50 and gave the company a “buy” rating in a research report on Monday, December 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a research note on Monday, December 29th. Finally, Needham & Company LLC reissued a “buy” rating and set a $107.00 price target on shares of Axos Financial in a research note on Friday, January 16th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $97.42.

Axos Financial Price Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a fifty day simple moving average of $85.97 and a 200 day simple moving average of $85.53. The company has a market capitalization of $5.42 billion, a PE ratio of 12.80 and a beta of 1.26.

Axos Financial (NYSE:AX) last posted its quarterly earnings results on Thursday, October 30th. The company reported $2.07 EPS for the quarter, beating the consensus estimate of $1.86 by $0.21. The business had revenue of $323.39 million during the quarter, compared to analyst estimates 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 business posted $1.96 EPS. Equities analysts anticipate that Axos Financial, Inc will post 7.22 EPS for the current year.

Insider Buying and Selling at Axos Financial

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

Institutional Investors Weigh In On Axos Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in Axos Financial by 62.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 257,843 shares of the company’s stock worth $21,538,000 after purchasing an additional 99,042 shares during the last quarter. Argent Capital Management LLC grew its stake in Axos Financial by 36.7% during the 3rd quarter. Argent Capital Management LLC now owns 53,690 shares of the company’s stock worth $4,545,000 after buying an additional 14,415 shares during the last quarter. Horizon Investment Services LLC acquired a new position in Axos Financial during the 2nd quarter valued at about $279,000. CWM LLC raised its stake in Axos Financial by 32.8% in the second quarter. CWM LLC now owns 10,233 shares of the company’s stock valued at $778,000 after buying an additional 2,527 shares during the last quarter. Finally, Truist Financial Corp raised its stake in Axos Financial by 24.5% in the second quarter. Truist Financial Corp now owns 12,483 shares of the company’s stock valued at $949,000 after buying an additional 2,457 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 (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.