Needham & Company LLC Reaffirms “Buy” Rating for Axos Financial (NYSE:AX)

Axos Financial (NYSE:AX)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports. They presently have a $110.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 16.40% from the stock’s current price.

A number of other analysts also recently commented on AX. Keefe, Bruyette & Woods boosted their target price on shares of Axos Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. Zacks Research raised Axos Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Jefferies Financial Group upped their target price on Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, January 30th. DA Davidson lifted their price target on Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $104.50.

Axos Financial Stock Performance

AX opened at $94.50 on Friday. The business has a 50 day moving average price of $91.33 and a two-hundred day moving average price of $86.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $5.36 billion, a price-to-earnings ratio of 11.98 and a beta of 1.27. Axos Financial has a 1-year low of $54.46 and a 1-year high of $101.92.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.18. Axos Financial had a return on equity of 16.98% and a net margin of 22.66%.The company had revenue of $385.09 million for the quarter, compared to the consensus estimate of $345.89 million. During the same quarter in the previous year, the business earned $1.82 EPS. The company’s quarterly revenue was up 25.1% compared to the same quarter last year. Research analysts predict that Axos Financial will post 7.22 EPS for the current fiscal year.

Insider Transactions at Axos Financial

In other Axos Financial news, Director Tamara N. Bohlig sold 2,145 shares of the stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $86.23, for a total value of $184,963.35. Following the completion of the sale, the director owned 12,919 shares in the company, valued at $1,114,005.37. This represents a 14.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward James Ratinoff sold 2,145 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $84.59, for a total value of $181,445.55. Following the sale, the director owned 46,209 shares of the company’s stock, valued at approximately $3,908,819.31. This represents a 4.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 63,593 shares of company stock worth $6,274,883. 4.85% of the stock is owned by company insiders.

Institutional Trading of Axos Financial

Institutional investors have recently added to or reduced their stakes in the business. Gator Capital Management LLC increased its stake in shares of Axos Financial by 14.5% during the 4th quarter. Gator Capital Management LLC now owns 176,340 shares of the company’s stock worth $15,193,000 after purchasing an additional 22,285 shares during the last quarter. CI Investments Inc. increased its position in Axos Financial by 2.4% during the fourth quarter. CI Investments Inc. now owns 91,817 shares of the company’s stock worth $7,911,000 after buying an additional 2,150 shares during the last quarter. Empirical Finance LLC raised its holdings in Axos Financial by 37.0% during the fourth quarter. Empirical Finance LLC now owns 95,566 shares of the company’s stock valued at $8,234,000 after buying an additional 25,800 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in shares of Axos Financial by 0.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 17,663 shares of the company’s stock worth $1,522,000 after acquiring an additional 146 shares in the last quarter. Finally, HRT Financial LP increased its holdings in shares of Axos Financial by 44.6% during the 4th quarter. HRT Financial LP now owns 22,084 shares of the company’s stock valued at $1,902,000 after acquiring an additional 6,814 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.