Axos Financial (NYSE:AX) Hits New 1-Year High – Should You Buy?

by · The Cerbat Gem

Shares of Axos Financial, Inc (NYSE:AX – Get Free Report) hit a new 52-week high on Thursday . The company traded as high as $94.39 and last traded at $94.27, with a volume of 47237 shares traded. The stock had previously closed at $92.00.

Analysts Set New Price Targets

AX has been the topic of a number of recent analyst reports. DA Davidson increased their price target on shares of Axos Financial from $106.00 to $107.50 and gave the company a “buy” rating in a report on Monday, December 8th. Raymond James Financial reaffirmed an “outperform” rating and issued a $100.00 price objective (up previously from $95.00) on shares of Axos Financial in a research note on Tuesday, September 23rd. Keefe, Bruyette & Woods boosted their price objective on Axos Financial from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, September 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $107.00 target price on shares of Axos Financial in a research note on Friday. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Axos Financial has an average rating of “Moderate Buy” and an average price target of $97.42.

View Our Latest Stock Analysis on Axos Financial

Axos Financial Stock Performance

The company has a market capitalization of $5.36 billion, a PE ratio of 12.66 and a beta of 1.26. The firm’s fifty day simple moving average is $85.49 and its 200 day simple moving average is $85.33. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.12 and a quick ratio of 1.12.

Axos Financial (NYSE:AX – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.21. Axos Financial had a return on equity of 16.72% and a net margin of 22.41%.The company had revenue of $323.39 million during the quarter, compared to analysts’ expectations of $319.96 million. During the same quarter in the prior year, the firm posted $1.96 EPS. On average, research analysts predict that Axos Financial, Inc will post 7.22 EPS for the current year.

Insider Activity at Axos Financial

In related news, Director Edward James Ratinoff sold 2,145 shares of Axos Financial stock in a transaction on Friday, December 5th. The stock was sold at an average price of $84.59, for a total value of $181,445.55. Following the completion of the transaction, the director directly owned 46,209 shares in the company, valued at approximately $3,908,819.31. This trade represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tamara N. Bohlig sold 2,145 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $86.23, for a total value of $184,963.35. Following the sale, the director owned 12,919 shares of the company’s stock, valued at approximately $1,114,005.37. The trade was a 14.24% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 4.85% of the company’s stock.

Institutional Investors Weigh In On Axos Financial

Several hedge funds have recently made changes to their positions in the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Axos Financial by 16.9% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,760 shares of the company’s stock valued at $324,000 after purchasing an additional 543 shares during the period. Victory Financial Group LLC bought a new position in Axos Financial during the fourth quarter worth $314,000. Allspring Global Investments Holdings LLC raised its stake in Axos Financial by 21.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 313,216 shares of the company’s stock worth $27,369,000 after acquiring an additional 55,373 shares during the period. Waldron Private Wealth LLC bought a new position in Axos Financial during the 4th quarter worth $214,000. Finally, Exchange Traded Concepts LLC acquired a new position in Axos Financial during the 4th quarter valued at about $89,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Axos Financial

(Get Free Report)

Axos Financial, Inc (NYSE: AX) is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.

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