Axos Financial’s (AX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Axos Financial (NYSE:AX) in a report issued on Monday morning,Benzinga reports. The brokerage currently has a $128.00 price target on the stock.

A number of other research analysts have also issued reports on the company. Weiss Ratings lowered Axos Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, September 24th. Benchmark raised their price objective on shares of Axos Financial from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. DA Davidson set a $121.00 price objective on shares of Axos Financial in a research note on Friday, July 31st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Axos Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.67.

Axos Financial Price Performance

NYSE AX opened at $87.58 on Monday. Axos Financial has a 12 month low of $74.89 and a 12 month high of $105.74. The firm has a market capitalization of $4.98 billion, a PE ratio of 10.34 and a beta of 1.28. The company’s 50 day simple moving average is $95.16 and its 200 day simple moving average is $92.67. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.07.

Axos Financial (NYSE:AX) last released its earnings results on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.37. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.The firm had revenue of $379.77 million during the quarter, compared to the consensus estimate of $375.54 million. During the same period in the prior year, the firm posted $1.94 earnings per share. As a group, equities research analysts forecast that Axos Financial will post 9.69 EPS for the current fiscal year.

Insider Activity at Axos Financial

In related news, Director Roque Santi sold 500 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total value of $52,650.00. Following the completion of the transaction, the director owned 7,146 shares in the company, valued at $752,473.80. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Axos Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its position in shares of Axos Financial by 18.9% in the 3rd quarter. Versant Capital Management Inc now owns 842 shares of the company’s stock valued at $73,000 after acquiring an additional 134 shares in the last quarter. Cim Investment Management Inc. grew its position in Axos Financial by 7.9% during the 2nd quarter. Cim Investment Management Inc. now owns 4,571 shares of the company’s stock worth $445,000 after purchasing an additional 336 shares in the last quarter. Bullseye Investment Management LLC purchased a new position in Axos Financial during the 2nd quarter worth approximately $1,537,000. Tidal Investments LLC acquired a new stake in Axos Financial during the 2nd quarter valued at $215,000. Finally, Engineers Gate Manager LP raised its stake in Axos Financial by 6.0% during the 2nd quarter. Engineers Gate Manager LP now owns 11,663 shares of the company’s stock valued at $1,136,000 after purchasing an additional 661 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Axos Financial

Axos Financial, Inc is the holding company for Axos Bank, a nationwide digital bank that provides banking and financial services to consumers and businesses. The company operates primarily through online and mobile platforms, allowing it to serve customers across the United States without relying on a traditional branch network.

Axos Bank offers personal banking products such as checking and savings accounts, certificates of deposit, mortgages, personal loans and other consumer lending products.