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

Axos Financial (NYSE:AX)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $85.00 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 23.24% from the stock’s previous close.

AX has been the subject of a number of other research reports. Keefe, Bruyette & Woods boosted their target price on Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Wedbush lowered their price objective on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Finally, StockNews.com upgraded shares of Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Axos Financial has a consensus rating of “Moderate Buy” and an average target price of $83.20.

Axos Financial Price Performance

Axos Financial stock opened at $68.97 on Thursday. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 8.35 and a beta of 1.46. The business’s 50 day simple moving average is $76.75 and its 200 day simple moving average is $68.93. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17. Axos Financial has a 12 month low of $44.10 and a 12 month high of $88.46.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. The firm had revenue of $512.87 million during the quarter, compared to analyst estimates of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. During the same period in the previous year, the business earned $1.41 EPS. Sell-side analysts forecast that Axos Financial will post 7.07 EPS for the current year.

Insider Buying and Selling

In related news, CEO Gregory Garrabrants sold 125,000 shares of Axos Financial stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total value of $10,236,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. This trade represents a 8.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward James Ratinoff sold 4,002 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $79.41, for a total transaction of $317,798.82. Following the completion of the sale, the director now owns 46,209 shares in the company, valued at $3,669,456.69. This represents a 7.97 % decrease in their position. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axos Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. Hancock Whitney Corp lifted its position in shares of Axos Financial by 1.3% during the 3rd quarter. Hancock Whitney Corp now owns 10,931 shares of the company’s stock valued at $687,000 after buying an additional 142 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Axos Financial by 4.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,836 shares of the company’s stock valued at $241,000 after purchasing an additional 162 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of Axos Financial by 5.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,291 shares of the company’s stock valued at $302,000 after buying an additional 266 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Axos Financial by 45.7% during the 3rd quarter. GAMMA Investing LLC now owns 982 shares of the company’s stock valued at $62,000 after buying an additional 308 shares in the last quarter. Finally, Amalgamated Bank boosted its holdings in Axos Financial by 2.1% in the 3rd quarter. Amalgamated Bank now owns 15,956 shares of the company’s stock worth $1,003,000 after buying an additional 322 shares during the period. 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.