Raymond James Reiterates “Outperform” Rating for Axos Financial (NYSE:AX)

Raymond James reaffirmed their outperform rating on shares of Axos Financial (NYSE:AX) in a research note published on Wednesday morning,Benzinga reports. Raymond James currently has a $80.00 target price on the stock, up from their prior target price of $75.00.

AX has been the subject of a number of other research reports. StockNews.com raised shares of Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Needham & Company LLC boosted their price target on Axos Financial from $85.00 to $88.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods lowered their price objective on Axos Financial from $91.00 to $90.00 and set a “market perform” rating on the stock in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.40.

Axos Financial Price Performance

Shares of NYSE AX opened at $69.50 on Wednesday. The firm has a market cap of $3.97 billion, a P/E ratio of 8.41 and a beta of 1.46. The business’s 50 day moving average is $74.78 and its 200-day moving average is $70.32. 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 1-year low of $44.10 and a 1-year high of $88.46.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.07. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. Equities research analysts predict that Axos Financial will post 7.07 earnings per share for the current year.

Insider Transactions at Axos Financial

In related news, Director Edward James Ratinoff sold 4,002 shares of the firm’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 value of $317,798.82. Following the completion of the transaction, the director now owns 46,209 shares in the company, valued at $3,669,456.69. This trade represents a 7.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of Axos Financial stock in a transaction that occurred 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 in the company, valued at approximately $109,763,472.53. This represents 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 owned by insiders.

Institutional Trading of Axos Financial

A number of institutional investors and hedge funds have recently bought and sold shares of AX. Van ECK Associates Corp acquired a new position in shares of Axos Financial in the 4th quarter worth approximately $3,349,000. Empowered Funds LLC grew its holdings in Axos Financial by 28.2% during the 4th quarter. Empowered Funds LLC now owns 16,306 shares of the company’s stock worth $1,139,000 after acquiring an additional 3,588 shares during the period. SkyOak Wealth LLC bought a new position in shares of Axos Financial in the 4th quarter worth about $328,000. Heck Capital Advisors LLC acquired a new position in shares of Axos Financial in the 4th quarter valued at about $35,000. Finally, R Squared Ltd bought a new stake in shares of Axos Financial during the 4th quarter valued at about $66,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.