Axos Financial (NYSE:AX) Sets New 12-Month High After Analyst Upgrade

Shares of Axos Financial, Inc (NYSE:AX) reached a new 52-week high during trading on Monday after Jefferies Financial Group raised their price target on the stock from $110.00 to $115.00. Jefferies Financial Group currently has a buy rating on the stock. Axos Financial traded as high as $100.05 and last traded at $100.6140, with a volume of 263750 shares. The stock had previously closed at $98.99.

A number of other research firms have also weighed in on AX. DA Davidson increased their price objective on shares of Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a research note on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Needham & Company LLC lifted their price target on shares of Axos Financial from $107.00 to $110.00 and gave the company a “buy” rating in a research report on Friday. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Axos Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Axos Financial has an average rating of “Moderate Buy” and a consensus price target of $104.50.

Insiders Place Their Bets

In other news, Director Edward James Ratinoff sold 2,145 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $84.59, for a total value of $181,445.55. Following the transaction, the director directly owned 46,209 shares in the company, valued at $3,908,819.31. This trade represents a 4.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tamara N. Bohlig sold 2,145 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $86.23, for a total transaction of $184,963.35. Following the completion of the sale, the director directly owned 12,919 shares in the company, valued at $1,114,005.37. This represents a 14.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.85% of the company’s stock.

Hedge Funds Weigh In On Axos Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in AX. Salomon & Ludwin LLC acquired a new stake in Axos Financial during the 3rd quarter valued at $26,000. Brown Brothers Harriman & Co. bought a new position in Axos Financial in the third quarter valued at $29,000. Bessemer Group Inc. raised its holdings in Axos Financial by 59.6% during the third quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock worth $29,000 after acquiring an additional 130 shares in the last quarter. Torren Management LLC bought a new stake in Axos Financial during the fourth quarter worth $36,000. Finally, True Wealth Design LLC lifted its position in shares of Axos Financial by 120.9% in the second quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $33,000 after buying an additional 237 shares during the last quarter. 83.79% of the stock is owned by institutional investors.

Axos Financial Stock Up 1.3%

The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.08. The firm’s fifty day moving average is $88.57 and its 200 day moving average is $86.12. The firm has a market cap of $5.68 billion, a P/E ratio of 12.70 and a beta of 1.27.

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 firm had revenue of $385.09 million for the quarter, compared to analyst estimates of $345.89 million. During the same quarter last year, the company earned $1.82 EPS. The company’s revenue was up 25.1% on a year-over-year basis. As a group, equities research analysts anticipate that Axos Financial, Inc will post 7.22 earnings per share for the current fiscal year.

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.