Axos Financial (NYSE:AX) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Axos Financial (NYSE:AX) from a sell rating to a hold rating in a report released on Tuesday morning.

Several other equities research analysts have also commented on the stock. Wedbush cut their price target on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, September 24th. Needham & Company LLC upped their target price on shares of Axos Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Keefe, Bruyette & Woods upped their target price on shares of Axos Financial from $72.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Axos Financial has an average rating of “Moderate Buy” and an average target price of $79.80.

Axos Financial Stock Performance

AX opened at $80.01 on Tuesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a fifty day moving average price of $71.01 and a 200 day moving average price of $65.28. Axos Financial has a 1 year low of $41.06 and a 1 year high of $88.46. The stock has a market cap of $4.57 billion, a P/E ratio of 9.69 and a beta of 1.42.

Axos Financial (NYSE:AX) last posted its earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.16. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. The firm had revenue of $512.87 million during the quarter, compared to analysts’ expectations of $299.59 million. During the same period in the previous year, the business posted $1.41 EPS. Equities research analysts anticipate that Axos Financial will post 7.07 earnings per share for the current year.

Insider Activity at Axos Financial

In other Axos Financial news, Director Edward James Ratinoff sold 4,002 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $79.41, for a total value of $317,798.82. Following the transaction, the director now owns 46,209 shares of the company’s stock, valued at $3,669,456.69. This represents a 7.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Gregory Garrabrants sold 125,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total transaction of $10,236,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,340,377 shares in the company, valued at $109,763,472.53. The trade was a 8.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 134,199 shares of company stock valued at $10,882,135. 5.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of AX. Hollencrest Capital Management acquired a new stake in shares of Axos Financial during the second quarter worth about $25,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Axos Financial during the third quarter worth approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in shares of Axos Financial during the third quarter worth approximately $41,000. Farther Finance Advisors LLC increased its stake in shares of Axos Financial by 881.8% during the third quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock worth $41,000 after buying an additional 582 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Axos Financial during the second quarter worth approximately $49,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Axos Financial Company Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.