Axos Financial (NYSE:AX) Hits New 1-Year High – Still a Buy?

Shares of Axos Financial, Inc (NYSE:AX) hit a new 52-week high during trading on Wednesday . The company traded as high as $96.25 and last traded at $96.1090, with a volume of 29972 shares. The stock had previously closed at $92.96.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AX shares. Keefe, Bruyette & Woods raised their target price on shares of Axos Financial from $94.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, September 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $107.00 price target on shares of Axos Financial in a research note on Friday, January 16th. DA Davidson raised their price objective on Axos Financial from $106.00 to $107.50 and gave the company a “buy” rating in a research report on Monday, December 8th. Weiss Ratings restated a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $100.00 price target (up from $95.00) on shares of Axos Financial in a research note on Tuesday, September 23rd. Six analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $97.42.

Axos Financial Stock Up 2.9%

The company’s 50-day moving average is $85.97 and its two-hundred day moving average is $85.53. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market cap of $5.42 billion, a P/E ratio of 12.80 and a beta of 1.26.

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

Insider Activity at Axos Financial

In related news, Director Tamara N. Bohlig sold 2,145 shares of Axos Financial stock in a transaction on Monday, December 8th. The stock was sold at an average price of $86.23, for a total transaction of $184,963.35. Following the transaction, the director directly owned 12,919 shares in the company, valued at approximately $1,114,005.37. The trade was a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward James Ratinoff sold 2,145 shares of the business’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 directly owned 46,209 shares of the company’s stock, valued at $3,908,819.31. This represents a 4.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.85% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Axos Financial by 62.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 257,843 shares of the company’s stock valued at $21,538,000 after acquiring an additional 99,042 shares during the last quarter. Argent Capital Management LLC lifted its stake in shares of Axos Financial by 36.7% in the 3rd quarter. Argent Capital Management LLC now owns 53,690 shares of the company’s stock valued at $4,545,000 after purchasing an additional 14,415 shares during the last quarter. Horizon Investment Services LLC purchased a new position in shares of Axos Financial in the 2nd quarter worth approximately $279,000. CWM LLC increased its position in shares of Axos Financial by 32.8% during the 2nd quarter. CWM LLC now owns 10,233 shares of the company’s stock valued at $778,000 after purchasing an additional 2,527 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in Axos Financial by 24.5% during the 2nd quarter. Truist Financial Corp now owns 12,483 shares of the company’s stock valued at $949,000 after buying an additional 2,457 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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.