Axos Financial’s (AX) Buy Rating Reaffirmed at Needham & Company LLC

Axos Financial (NYSE:AX)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $85.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 18.01% from the stock’s current price.

Several other brokerages also recently commented on AX. StockNews.com upgraded Axos Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods boosted their price target on Axos Financial from $74.00 to $91.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Wedbush cut their price objective 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. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Axos Financial presently has a consensus rating of “Moderate Buy” and an average target price of $83.20.

Axos Financial Trading Up 1.5 %

Axos Financial stock opened at $72.03 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17. Axos Financial has a 12-month low of $44.10 and a 12-month high of $88.46. The firm has a market capitalization of $4.11 billion, a price-to-earnings ratio of 8.72 and a beta of 1.46. The firm has a 50 day moving average of $76.06 and a 200 day moving average of $69.77.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 prior year, the company posted $1.41 earnings per share. As a group, research analysts predict that Axos Financial will post 7.07 earnings per share for the current year.

Insider Buying and Selling at Axos Financial

In related news, Director Edward James Ratinoff sold 4,002 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $79.41, for a total transaction 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. This represents a 7.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory Garrabrants sold 125,000 shares of Axos Financial 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 completion of the transaction, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Axos Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hancock Whitney Corp raised its stake in shares of Axos Financial by 1.3% in the third quarter. Hancock Whitney Corp now owns 10,931 shares of the company’s stock valued at $687,000 after acquiring an additional 142 shares during the period. Crossmark Global Holdings Inc. grew its holdings in Axos Financial by 4.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,836 shares of the company’s stock valued at $241,000 after purchasing an additional 162 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in Axos Financial by 5.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,291 shares of the company’s stock worth $302,000 after purchasing an additional 266 shares during the period. GAMMA Investing LLC lifted its stake in Axos Financial by 45.7% in the third quarter. GAMMA Investing LLC now owns 982 shares of the company’s stock worth $62,000 after purchasing an additional 308 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Axos Financial by 2.1% during the third quarter. Amalgamated Bank now owns 15,956 shares of the company’s stock valued at $1,003,000 after buying an additional 322 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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.