DA Davidson Cuts Axos Financial (NYSE:AX) Price Target to $88.00

Axos Financial (NYSE:AX) had its price objective trimmed by DA Davidson from $96.00 to $88.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued reports about the company. StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Needham & Company LLC lifted their target price on shares of Axos Financial from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday. Keefe, Bruyette & Woods reduced their target price on shares of Axos Financial from $91.00 to $90.00 and set a “market perform” rating for the company in a research report on Wednesday. Finally, Raymond James restated an “outperform” rating and set a $80.00 price target (up from $75.00) on shares of Axos Financial in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.17.

Axos Financial Price Performance

Axos Financial stock opened at $69.71 on Thursday. The stock has a market capitalization of $3.98 billion, a P/E ratio of 8.44 and a beta of 1.46. The company’s fifty day moving average price is $74.53 and its 200 day moving average price is $70.31. 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 1 year low of $44.10 and a 1 year high of $88.46.

Axos Financial (NYSE:AX) last released its earnings results on Tuesday, January 28th. The company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.07. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. As a group, equities research analysts anticipate that Axos Financial will post 7.07 earnings per share for the current fiscal year.

Insider Activity

In other Axos Financial news, CEO Gregory Garrabrants sold 125,000 shares of the 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 owns 1,340,377 shares of the company’s stock, valued at $109,763,472.53. This trade represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Edward James Ratinoff sold 4,002 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 46,209 shares in the company, valued at $3,669,456.69. This trade represents a 7.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.07% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AX. Wasatch Advisors LP raised its stake in shares of Axos Financial by 34.0% in the third quarter. Wasatch Advisors LP now owns 1,154,737 shares of the company’s stock valued at $72,610,000 after acquiring an additional 292,952 shares in the last quarter. Millennium Management LLC raised its holdings in 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 acquiring an additional 190,584 shares in the last quarter. State Street Corp lifted its stake in Axos Financial by 5.5% in the third quarter. State Street Corp now owns 3,178,708 shares of the company’s stock worth $199,877,000 after acquiring an additional 164,997 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Axos Financial during the 4th quarter worth approximately $9,849,000. Finally, Geode Capital Management LLC lifted its position in shares of Axos Financial by 6.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,444,756 shares of the company’s stock worth $90,861,000 after purchasing an additional 91,797 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.