Needham & Company LLC Issues Positive Forecast for Axos Financial (NYSE:AX) Stock Price

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

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

Axos Financial Trading Up 0.6 %

Shares of Axos Financial stock opened at $70.03 on Wednesday. Axos Financial has a 1 year low of $44.10 and a 1 year high of $88.46. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 9.41 and a beta of 1.46. The business has a fifty day simple moving average of $74.24 and a two-hundred day simple moving average of $70.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08.

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

Insider Buying and Selling

In related news, CEO Gregory Garrabrants sold 125,000 shares of the firm’s 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Edward James Ratinoff sold 4,002 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $79.41, for a total value of $317,798.82. Following the completion of the transaction, the director now directly owns 46,209 shares of the company’s stock, valued at approximately $3,669,456.69. The trade was a 7.97 % decrease in their position. The disclosure for this sale can be found here. 5.07% of the stock is owned by corporate insiders.

Institutional Trading of Axos Financial

Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Axos Financial by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 281,658 shares of the company’s stock worth $17,711,000 after buying an additional 32,095 shares during the period. Loomis Sayles & Co. L P boosted its holdings in Axos Financial by 9.4% in the third quarter. Loomis Sayles & Co. L P now owns 453,425 shares of the company’s stock valued at $28,512,000 after acquiring an additional 39,091 shares during the last quarter. Barclays PLC increased its position in Axos Financial by 32.6% during the 3rd quarter. Barclays PLC now owns 142,715 shares of the company’s stock valued at $8,974,000 after purchasing an additional 35,087 shares during the period. Raymond James & Associates lifted its position in shares of Axos Financial by 29.7% in the 3rd quarter. Raymond James & Associates now owns 109,964 shares of the company’s stock worth $6,915,000 after purchasing an additional 25,158 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of Axos Financial in the 4th quarter valued at $9,849,000. 83.79% of the stock is currently owned by 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.