Axos Financial (NYSE:AX) Price Target Raised to $88.00

Axos Financial (NYSE:AX) had its price target lifted by Needham & Company LLC from $85.00 to $88.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently weighed in on AX. StockNews.com upgraded shares of Axos Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods increased their target price on shares of Axos Financial from $74.00 to $91.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $84.17.

Axos Financial Price Performance

Shares of AX stock opened at $70.03 on Wednesday. The firm’s 50 day moving average price is $74.24 and its two-hundred day moving average price is $70.34. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.08 and a current ratio of 1.08. Axos Financial has a 52-week low of $44.10 and a 52-week high of $88.46. The stock has a market cap of $4.00 billion, a PE ratio of 9.41 and a beta of 1.46.

Axos Financial (NYSE:AX) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.07. Axos Financial had a return on equity of 19.12% and a net margin of 22.10%. As a group, analysts forecast that Axos Financial will post 7.16 EPS for the current year.

Insider Activity at Axos Financial

In other news, Director Edward James Ratinoff sold 4,002 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $79.41, for a total value of $317,798.82. Following the sale, the director now owns 46,209 shares of the company’s stock, valued at $3,669,456.69. The trade was a 7.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory Garrabrants sold 125,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total transaction of $10,236,250.00. Following the transaction, the chief executive officer now owns 1,340,377 shares of the company’s stock, 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. 5.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Axos Financial

A number of large investors have recently modified their holdings of AX. Hsbc Holdings PLC increased its position in shares of Axos Financial by 27.4% in the second quarter. Hsbc Holdings PLC now owns 7,731 shares of the company’s stock valued at $438,000 after acquiring an additional 1,661 shares during the last quarter. Sei Investments Co. increased its position in shares of Axos Financial by 33.1% during the 2nd quarter. Sei Investments Co. now owns 65,520 shares of the company’s stock worth $3,744,000 after purchasing an additional 16,287 shares during the last quarter. Xponance Inc. raised its stake in shares of Axos Financial by 20.4% during the 2nd quarter. Xponance Inc. now owns 6,523 shares of the company’s stock worth $373,000 after purchasing an additional 1,103 shares in the last quarter. Millennium Management LLC grew its stake in shares of Axos Financial by 107.9% in the second quarter. Millennium Management LLC now owns 367,251 shares of the company’s stock valued at $20,988,000 after buying an additional 190,584 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Axos Financial by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 30,866 shares of the company’s stock worth $1,764,000 after buying an additional 888 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.