Axos Financial (NYSE:AX) Rating Increased to Strong-Buy at Raymond James Financial

Axos Financial (NYSE:AX) was upgraded by analysts at Raymond James Financial from an “outperform” rating to a “strong-buy” rating in a report issued on Tuesday,Benzinga reports. The brokerage currently has a $100.00 target price on the stock, down from their previous target price of $110.00. Raymond James Financial’s price objective points to a potential upside of 15.16% from the company’s current price.

AX has been the topic of a number of other research reports. Keefe, Bruyette & Woods raised their price target on shares of Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a report on Friday, January 30th. Zacks Research upgraded shares of Axos Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a research note on Monday, December 29th. DA Davidson increased their price objective on shares of Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price objective on shares of Axos Financial in a research note on Monday, March 16th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Axos Financial currently has an average rating of “Buy” and an average target price of $104.50.

Axos Financial Stock Performance

Shares of NYSE AX opened at $86.83 on Tuesday. The firm’s 50-day moving average price is $90.47 and its 200-day moving average price is $86.77. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a market cap of $4.92 billion, a PE ratio of 11.01 and a beta of 1.26. Axos Financial has a 52-week low of $54.46 and a 52-week high of $101.92.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.18. The firm had revenue of $385.09 million for the quarter, compared to the consensus estimate of $345.89 million. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.82 EPS. As a group, analysts anticipate that Axos Financial will post 7.22 EPS for the current year.

Insider Buying and Selling

In related news, Director James John Court sold 11,163 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $101.01, for a total value of $1,127,574.63. Following the sale, the director owned 32,169 shares in the company, valued at approximately $3,249,390.69. The trade was a 25.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Derrick Walsh sold 4,846 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.21, for a total transaction of $490,463.66. Following the completion of the sale, the executive vice president owned 37,936 shares in the company, valued at $3,839,502.56. This represents a 11.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 59,303 shares of company stock worth $5,908,474. Corporate insiders own 4.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AX. Salomon & Ludwin LLC purchased a new position in Axos Financial during the third quarter worth $26,000. Eurizon Capital SGR S.p.A. purchased a new position in Axos Financial during the fourth quarter worth $26,000. Basepoint Wealth LLC purchased a new position in Axos Financial during the fourth quarter worth $28,000. Bessemer Group Inc. boosted its stake in Axos Financial by 59.6% during the third quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock worth $29,000 after buying an additional 130 shares during the period. Finally, Brown Brothers Harriman & Co. purchased a new position in Axos Financial during the third quarter worth $29,000. 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.