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

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

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

Axos Financial Stock Performance

Shares of AX opened at $80.01 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. The firm has a market cap of $4.57 billion, a PE ratio of 9.69 and a beta of 1.42. The company’s 50 day simple moving average is $71.01 and its 200-day simple moving average is $65.28. Axos Financial has a 12-month low of $41.06 and a 12-month high of $88.46.

Axos Financial (NYSE:AX) last announced its earnings results 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. The business had revenue of $512.87 million for the quarter, compared to analyst estimates of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. During the same period last year, the firm posted $1.41 earnings per share. As a group, equities analysts predict that Axos Financial will post 7.07 EPS for the current year.

Insider Buying and Selling at Axos Financial

In other news, 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 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Edward James Ratinoff sold 4,002 shares of Axos Financial stock in a transaction on Friday, November 15th. The stock was sold at an average price of $79.41, for a total value of $317,798.82. Following the transaction, the director now directly owns 46,209 shares of the company’s stock, valued at $3,669,456.69. This trade represents a 7.97 % 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Kathleen S. Wright Associates Inc. purchased a new stake in Axos Financial during the 3rd quarter worth about $27,000. Hollencrest Capital Management purchased a new stake in Axos Financial in the 2nd quarter valued at about $25,000. Farther Finance Advisors LLC grew its holdings in Axos Financial by 881.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock valued at $41,000 after buying an additional 582 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Axos Financial in the 3rd quarter valued at about $41,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in Axos Financial in the 2nd quarter valued at about $49,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Axos Financial

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.