Axos Financial (NYSE:AX) Price Target Raised to $120.00

Axos Financial (NYSE:AX) had its price target raised by Benchmark from $115.00 to $120.00 in a research note published on Thursday, MarketBeat Ratings reports. Benchmark currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods upped their price objective on Axos Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Friday, July 31st. Needham & Company LLC raised their target price on shares of Axos Financial from $110.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Weiss Ratings upgraded shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Finally, DA Davidson set a $121.00 price target on shares of Axos Financial in a research report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Axos Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

Axos Financial Stock Performance

AX opened at $102.28 on Thursday. Axos Financial has a 52-week low of $74.89 and a 52-week high of $105.74. The firm has a market capitalization of $5.82 billion, a PE ratio of 12.08 and a beta of 1.22. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50-day simple moving average is $96.35 and its 200 day simple moving average is $92.43.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Thursday, July 30th. The company reported $2.53 EPS for the quarter, beating the consensus estimate of $2.16 by $0.37. The firm had revenue of $379.77 million during the quarter, compared to analysts’ expectations of $375.54 million. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.During the same period in the prior year, the firm posted $1.94 earnings per share. As a group, sell-side analysts expect that Axos Financial will post 9.59 earnings per share for the current fiscal year.

Insider Activity

In other Axos Financial news, Director Roque A. Santi sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.30, for a total transaction of $52,650.00. Following the completion of the sale, the director directly owned 7,146 shares in the company, valued at $752,473.80. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael James Watson sold 1,653 shares of the firm’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total transaction of $138,471.81. Following the sale, the executive vice president owned 4,592 shares of the company’s stock, valued at $384,671.84. This trade represents a 26.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 4.85% of the stock is owned by corporate insiders.

Institutional Trading of Axos Financial

Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Axos Financial by 0.9% during the 1st quarter. Royal Bank of Canada now owns 108,986 shares of the company’s stock worth $7,031,000 after buying an additional 1,015 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Axos Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company’s stock valued at $2,099,000 after acquiring an additional 1,429 shares during the period. United Services Automobile Association bought a new stake in shares of Axos Financial in the first quarter valued at about $212,000. Cetera Investment Advisers grew its stake in shares of Axos Financial by 1.8% in the second quarter. Cetera Investment Advisers now owns 8,197 shares of the company’s stock valued at $623,000 after acquiring an additional 141 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Axos Financial in the second quarter valued at about $6,252,000. 83.79% of the stock is currently owned by institutional investors.

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.