Axos Financial (NYSE:AX) Shares Gap Down – What’s Next?

Axos Financial, Inc (NYSE:AX)’s share price gapped down before the market opened on Monday . The stock had previously closed at $96.29, but opened at $92.08. Axos Financial shares last traded at $92.15, with a volume of 9,595 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $107.00 price objective on shares of Axos Financial in a report on Friday, January 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a research note on Monday, December 29th. Finally, DA Davidson raised their price objective on Axos Financial from $106.00 to $107.50 and gave the stock a “buy” rating in a research note on Monday, December 8th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Axos Financial has an average rating of “Moderate Buy” and an average target price of $97.42.

Axos Financial Trading Down 0.5%

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.54. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 12.31 and a beta of 1.26. The company has a fifty day moving average price of $87.52 and a 200-day moving average price of $85.88.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.21. Axos Financial had a return on equity of 16.72% and a net margin of 22.41%.The company had revenue of $323.39 million during the quarter, compared to analysts’ expectations of $319.96 million. During the same period last year, the business earned $1.96 earnings per share. As a group, research analysts expect that Axos Financial, Inc will post 7.22 EPS for the current year.

Insider Buying and Selling at Axos Financial

In other Axos Financial news, Director Tamara N. Bohlig sold 2,145 shares of the company’s stock in a transaction dated 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 transaction, the director owned 12,919 shares in the company, valued at approximately $1,114,005.37. This represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward James Ratinoff sold 2,145 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were 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 in the company, valued at $3,908,819.31. This trade represents a 4.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.85% of the company’s stock.

Institutional Investors Weigh In On Axos Financial

Several institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in Axos Financial by 198.0% during the third quarter. Franklin Resources Inc. now owns 414,178 shares of the company’s stock worth $35,060,000 after buying an additional 275,191 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Axos Financial by 10.5% in the 2nd quarter. American Century Companies Inc. now owns 2,378,121 shares of the company’s stock worth $180,832,000 after acquiring an additional 226,892 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Axos Financial in the 2nd quarter worth $9,639,000. Edgestream Partners L.P. raised its holdings in shares of Axos Financial by 199.7% during the 2nd quarter. Edgestream Partners L.P. now owns 165,283 shares of the company’s stock worth $12,568,000 after acquiring an additional 110,136 shares during the period. Finally, UBS Group AG boosted its position in shares of Axos Financial by 65.7% during the 3rd quarter. UBS Group AG now owns 267,312 shares of the company’s stock valued at $22,628,000 after acquiring an additional 106,003 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.