Axos Financial (NYSE:AX) Raised to “Hold” at StockNews.com

Axos Financial (NYSE:AX) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

Several other analysts also recently issued reports on AX. Needham & Company LLC increased their price target on Axos Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wedbush lowered 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, Keefe, Bruyette & Woods increased their price target on Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.20.

Axos Financial Trading Down 0.1 %

AX stock opened at $79.51 on Monday. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 9.63 and a beta of 1.42. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The business has a fifty day simple moving average of $73.14 and a 200-day simple moving average of $66.14. Axos Financial has a 52 week low of $44.10 and a 52 week high of $88.46.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.16. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. The firm had revenue of $512.87 million during the quarter, compared to the consensus estimate of $299.59 million. During the same period in the prior year, the firm earned $1.41 EPS. On average, equities research analysts expect 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 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 transaction, the chief executive officer now owns 1,340,377 shares of the company’s stock, valued at approximately $109,763,472.53. This trade represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward James Ratinoff sold 4,002 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $79.41, for a total transaction of $317,798.82. Following the transaction, the director now directly owns 46,209 shares in the company, valued at $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 currently owned by corporate insiders.

Hedge Funds Weigh In On Axos Financial

Several large investors have recently modified their holdings of the stock. CWM LLC raised its stake in Axos Financial by 5.4% during the second quarter. CWM LLC now owns 5,208 shares of the company’s stock worth $298,000 after acquiring an additional 269 shares during the period. SG Americas Securities LLC raised its stake in Axos Financial by 453.9% during the second quarter. SG Americas Securities LLC now owns 32,124 shares of the company’s stock worth $1,836,000 after acquiring an additional 26,324 shares during the period. M&G Plc raised its stake in Axos Financial by 12.4% during the second quarter. M&G Plc now owns 171,740 shares of the company’s stock worth $9,789,000 after acquiring an additional 18,978 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in Axos Financial during the second quarter worth about $49,000. Finally, SummerHaven Investment Management LLC raised its stake in Axos Financial by 1.6% during the second quarter. SummerHaven Investment Management LLC now owns 17,645 shares of the company’s stock worth $1,008,000 after acquiring an additional 281 shares during the period. Institutional investors own 83.79% of the company’s stock.

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.