Axos Financial (NYSE:AX) Upgraded by Benchmark to Strong-Buy Rating

Benchmark upgraded shares of Axos Financial (NYSE:AX) to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reissued a “buy” rating and set a $110.00 target price on shares of Axos Financial in a research report on Monday, March 16th. Weiss Ratings raised Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. Raymond James Financial upgraded Axos Financial from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $110.00 to $100.00 in a research note on Tuesday, April 7th. Finally, Zacks Research lowered Axos Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $110.33.

Axos Financial Stock Up 1.4%

AX opened at $96.91 on Wednesday. Axos Financial has a fifty-two week low of $74.89 and a fifty-two week high of $101.92. The business has a 50-day moving average of $89.80 and a 200-day moving average of $90.85. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.15 and a quick ratio of 1.15. The company has a market capitalization of $5.51 billion, a PE ratio of 11.78 and a beta of 1.23.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.23). Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. The firm had revenue of $392.25 million during the quarter, compared to the consensus estimate of $372.51 million. During the same period in the previous year, the firm posted $1.81 EPS. Equities research analysts forecast that Axos Financial will post 8.38 EPS for the current fiscal year.

Insider Transactions at Axos Financial

In other news, Director Roque A. Santi sold 500 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $87.77, for a total transaction of $43,885.00. Following the completion of the transaction, the director owned 7,646 shares of the company’s stock, valued at approximately $671,089.42. This represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael James Watson sold 1,653 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total transaction of $138,471.81. Following the completion of the sale, the executive vice president owned 4,592 shares of the company’s stock, valued at approximately $384,671.84. The trade was a 26.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.85% of the stock is currently owned by corporate insiders.

Institutional Trading of Axos Financial

Several institutional investors have recently modified their holdings of AX. State Street Corp raised its stake in shares of Axos Financial by 0.5% in the fourth quarter. State Street Corp now owns 2,696,323 shares of the company’s stock valued at $232,315,000 after purchasing an additional 13,669 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Axos Financial by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,177,003 shares of the company’s stock valued at $185,234,000 after buying an additional 7,509 shares during the period. Geode Capital Management LLC increased its holdings in Axos Financial by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 1,775,539 shares of the company’s stock valued at $154,687,000 after buying an additional 62,269 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Axos Financial by 8.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 740,652 shares of the company’s stock valued at $56,319,000 after buying an additional 58,774 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Axos Financial by 7.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 721,572 shares of the company’s stock valued at $62,171,000 after buying an additional 52,250 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Axos Financial Company Profile

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.