Piper Sandler Increases Axos Financial (NYSE:AX) Price Target to $68.00

Axos Financial (NYSE:AX) had its target price increased by stock analysts at Piper Sandler from $65.00 to $68.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price objective would suggest a potential upside of 22.72% from the stock’s current price.

A number of other research firms also recently weighed in on AX. StockNews.com raised shares of Axos Financial from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Raymond James lifted their target price on Axos Financial from $45.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Finally, Wedbush reissued a “neutral” rating and set a $60.00 target price on shares of Axos Financial in a research note on Wednesday. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $63.33.

Axos Financial Price Performance

Shares of NYSE:AX traded up $4.80 during midday trading on Wednesday, hitting $55.41. The stock had a trading volume of 246,933 shares, compared to its average volume of 539,449. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.15 billion, a P/E ratio of 8.14 and a beta of 1.44. The company’s 50-day moving average price is $51.31 and its 200-day moving average price is $48.58. Axos Financial has a fifty-two week low of $32.05 and a fifty-two week high of $60.00.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.21. Axos Financial had a net margin of 24.55% and a return on equity of 17.83%. The company had revenue of $476.73 million for the quarter, compared to analyst estimates of $277.85 million. During the same period in the previous year, the firm posted $1.35 EPS. As a group, equities research analysts predict that Axos Financial will post 6.45 EPS for the current fiscal year.

Insider Transactions at Axos Financial

In other news, Director Sara Wardell-Smith purchased 5,000 shares of the stock in a transaction dated Friday, March 15th. The shares were purchased at an average cost of $49.75 per share, with a total value of $248,750.00. Following the completion of the acquisition, the director now owns 5,000 shares in the company, valued at approximately $248,750. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Axos Financial news, Director Sara Wardell-Smith acquired 5,000 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $49.75 per share, with a total value of $248,750.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $248,750. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andrew J. Micheletti sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $52.89, for a total transaction of $132,225.00. Following the completion of the sale, the executive vice president now directly owns 422,583 shares in the company, valued at $22,350,414.87. The disclosure for this sale can be found here. Corporate insiders own 4.82% of the company’s stock.

Institutional Investors Weigh In On Axos Financial

A number of institutional investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. bought a new stake in Axos Financial in the 4th quarter worth $26,000. Investment Research & Advisory Group Inc. bought a new position in Axos Financial during the 1st quarter valued at approximately $27,000. Carmel Capital Partners LLC purchased a new stake in Axos Financial in the 3rd quarter worth approximately $30,000. FinTrust Capital Advisors LLC bought a new stake in shares of Axos Financial in the 4th quarter worth approximately $44,000. Finally, GAMMA Investing LLC purchased a new stake in Axos Financial in the fourth quarter worth $49,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Axos Financial Company Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.