Axos Financial (NYSE:AX) Stock Rating Upgraded by Benchmark

Axos Financial (NYSE:AX) was upgraded by Benchmark to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

AX has been the topic of a number of other reports. Weiss Ratings upgraded shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price target on shares of Axos Financial in a research note on Monday, March 16th. Raymond James Financial upgraded Axos Financial from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $110.00 to $100.00 in a research report on Tuesday, April 7th. Finally, Zacks Research cut shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Axos Financial has an average rating of “Buy” and an average price target of $110.33.

Axos Financial Stock Up 1.4%

Shares of AX opened at $96.91 on Wednesday. Axos Financial has a 12-month low of $74.89 and a 12-month high of $101.92. The firm has a market cap of $5.51 billion, a P/E ratio of 11.78 and a beta of 1.23. The company’s 50-day moving average price is $89.80 and its 200 day moving average price is $90.85. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.23). The company had revenue of $392.25 million during the quarter, compared to analysts’ expectations of $372.51 million. Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. During the same period last year, the firm posted $1.81 earnings per share. On average, sell-side analysts forecast that Axos Financial will post 8.38 earnings per share for the current year.

Insider Activity at Axos Financial

In related news, EVP Michael James Watson sold 1,653 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total value of $138,471.81. Following the sale, the executive vice president directly owned 4,592 shares of the company’s stock, valued at approximately $384,671.84. This represents a 26.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roque A. Santi sold 500 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $87.77, for a total transaction of $43,885.00. Following the transaction, the director directly owned 7,646 shares of the company’s stock, valued at approximately $671,089.42. This trade represents a 6.14% 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 owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC raised its position in shares of Axos Financial by 714.0% in the fourth quarter. Jackson Creek Investment Advisors LLC now owns 20,725 shares of the company’s stock valued at $1,786,000 after buying an additional 18,179 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Axos Financial by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 1,775,539 shares of the company’s stock valued at $154,687,000 after acquiring an additional 62,269 shares during the last quarter. Stieven Capital Advisors L.P. grew its holdings in shares of Axos Financial by 8.0% during the 4th quarter. Stieven Capital Advisors L.P. now owns 255,859 shares of the company’s stock worth $22,045,000 after purchasing an additional 18,900 shares during the period. JPMorgan Chase & Co. grew its stake in Axos Financial by 18.2% during the third quarter. JPMorgan Chase & Co. now owns 330,886 shares of the company’s stock worth $28,010,000 after buying an additional 50,902 shares during the period. Finally, Kennedy Capital Management LLC boosted its position in Axos Financial by 12.3% during the 4th quarter. Kennedy Capital Management LLC now owns 308,935 shares of the company’s stock worth $26,618,000 after purchasing an additional 33,854 shares during the period. Institutional investors and hedge funds 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.