Axos Financial (NYSE:AX) Issues Quarterly Earnings Results

Axos Financial (NYSE:AX) announced its earnings results on Thursday. The company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.07 by $0.18, FiscalAI reports. Axos Financial had a return on equity of 16.72% and a net margin of 22.41%.The firm had revenue of $385.09 million for the quarter, compared to analysts’ expectations of $345.89 million.

Axos Financial Stock Performance

AX stock traded up $2.84 during midday trading on Thursday, reaching $94.70. 494,154 shares of the company were exchanged, compared to its average volume of 330,010. Axos Financial has a one year low of $54.46 and a one year high of $99.82. The business has a 50-day moving average price of $87.82 and a two-hundred day moving average price of $85.93. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 12.68 and a beta of 1.26.

Insider Buying and Selling

In related news, Director Edward James Ratinoff sold 2,145 shares of the stock in a transaction that occurred on 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 owned 46,209 shares in the company, valued at approximately $3,908,819.31. This trade represents a 4.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Tamara N. Bohlig sold 2,145 shares of the business’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $86.23, for a total value of $184,963.35. Following the transaction, the director directly owned 12,919 shares of the company’s stock, valued at $1,114,005.37. This trade represents a 14.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.85% of the stock is currently owned by insiders.

Institutional Trading of Axos Financial

Institutional investors and hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers raised its position in Axos Financial by 1.8% in the 2nd quarter. Cetera Investment Advisers now owns 8,197 shares of the company’s stock worth $623,000 after buying an additional 141 shares during the last quarter. Lido Advisors LLC lifted its position in Axos Financial by 2.7% during the third quarter. Lido Advisors LLC now owns 6,000 shares of the company’s stock valued at $508,000 after purchasing an additional 158 shares in the last quarter. US Bancorp DE grew its holdings in Axos Financial by 6.9% during the third quarter. US Bancorp DE now owns 2,499 shares of the company’s stock valued at $212,000 after purchasing an additional 162 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of Axos Financial by 294.7% in the second quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after buying an additional 333 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new stake in Axos Financial during the 3rd quarter worth approximately $29,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $107.00 price target on shares of Axos Financial in a report on Friday, January 16th. DA Davidson upped their target price on Axos Financial from $106.00 to $107.50 and gave the company a “buy” rating in a research note on Monday, December 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a research note on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.42.

About Axos Financial

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.