Axos Financial (NYSE:AX) Hits New 12-Month High – What’s Next?

Shares of Axos Financial, Inc (NYSE:AX) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $102.18 and last traded at $101.6280, with a volume of 310088 shares trading hands. The stock had previously closed at $98.16.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AX. Weiss Ratings raised shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. Zacks Research cut shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Raymond James Financial upgraded shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $110.00 to $100.00 in a research note on Tuesday, April 7th. Finally, Benchmark initiated coverage on shares of Axos Financial in a report on Wednesday, July 8th. They set a “buy” rating and a $115.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $110.33.

Axos Financial Stock Performance

The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 12.26 and a beta of 1.23. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38. The stock has a 50-day simple moving average of $90.27 and a 200-day simple moving average of $91.11.

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

Insider Activity

In other news, EVP Michael James Watson sold 1,653 shares of the business’s 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 completion of the sale, the executive vice president owned 4,592 shares of the company’s stock, valued at approximately $384,671.84. The trade was a 26.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Roque A. Santi sold 500 shares of the stock in a transaction dated 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 in the company, valued at $671,089.42. The trade was a 6.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.85% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in AX. Eurizon Capital SGR S.p.A. bought a new position in Axos Financial during the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new stake in Axos Financial during the fourth quarter valued at $28,000. Brown Brothers Harriman & Co. bought a new stake in Axos Financial during the third quarter valued at $29,000. State of Wyoming acquired a new stake in shares of Axos Financial during the first quarter worth $30,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Axos Financial by 294.7% during the second quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.