Axos Financial (NYSE:AX) Announces Quarterly Earnings Results

Axos Financial (NYSE:AX) issued its quarterly earnings data on Thursday. The company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.18, FiscalAI reports. Axos Financial had a return on equity of 16.72% and a net margin of 22.41%.The business had revenue of $385.09 million for the quarter, compared to analyst estimates of $345.89 million.

Axos Financial Trading Up 3.1%

Shares of NYSE AX traded up $2.84 during trading hours on Thursday, reaching $94.70. The stock had a trading volume of 494,154 shares, compared to its average volume of 330,010. 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 business’s fifty day moving average price is $87.82 and its two-hundred day moving average price is $85.93. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 12.68 and a beta of 1.26. Axos Financial has a 52-week low of $54.46 and a 52-week high of $99.82.

Insider Activity

In other 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 transaction of $184,963.35. Following the transaction, the director 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward James Ratinoff sold 2,145 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $84.59, for a total transaction of $181,445.55. Following the completion of the transaction, the director directly owned 46,209 shares of the company’s stock, valued at approximately $3,908,819.31. This represents a 4.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Axos Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AX. Coldstream Capital Management Inc. grew its stake in Axos Financial by 94.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 5,810 shares of the company’s stock worth $492,000 after buying an additional 2,822 shares during the last quarter. Lido Advisors LLC grew its holdings in Axos Financial by 2.7% during the 3rd quarter. Lido Advisors LLC now owns 6,000 shares of the company’s stock valued at $508,000 after buying an additional 158 shares during the last quarter. Creative Planning boosted its holdings in shares of Axos Financial by 10.3% during the third quarter. Creative Planning now owns 4,764 shares of the company’s stock worth $403,000 after purchasing an additional 446 shares during the last quarter. Keebeck Wealth Management grew its stake in shares of Axos Financial by 9.6% during the 3rd quarter. Keebeck Wealth Management now owns 5,847 shares of the company’s stock valued at $495,000 after buying an additional 512 shares during the period. Finally, MML Investors Services LLC increased its position in shares of Axos Financial by 33.8% in the second quarter. MML Investors Services LLC now owns 7,822 shares of the company’s stock worth $595,000 after acquiring an additional 1,978 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AX. DA Davidson increased their target price on shares of Axos Financial from $106.00 to $107.50 and gave the company a “buy” rating in a research note on Monday, December 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a research note on Monday, December 29th. Finally, 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. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $97.42.

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.