Axos Financial (NYSE:AX) Earns “Buy” Rating from Needham & Company LLC

Axos Financial (NYSE:AX)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They currently have a $85.00 price objective on the stock. Needham & Company LLC’s price target would suggest a potential upside of 18.01% from the company’s current price.

A number of other equities analysts also recently weighed in on the stock. Wedbush decreased their target price on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods lifted their price objective 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. Finally, StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.20.

Axos Financial Trading Up 1.5 %

NYSE:AX opened at $72.03 on Tuesday. The company has a 50-day moving average price of $76.06 and a 200-day moving average price of $69.77. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 8.72 and a beta of 1.46. 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 12 month low of $44.10 and a 12 month high of $88.46.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.80 by $0.16. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. The business had revenue of $512.87 million during the quarter, compared to analyst estimates of $299.59 million. During the same period last year, the business posted $1.41 earnings per share. Equities analysts predict that Axos Financial will post 7.07 EPS for the current year.

Insider Buying and Selling

In other Axos Financial news, CEO Gregory Garrabrants sold 125,000 shares of the company’s 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 in the company, valued at approximately $109,763,472.53. This represents a 8.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Edward James Ratinoff sold 4,002 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $79.41, for a total transaction of $317,798.82. Following the sale, the director now directly owns 46,209 shares in the company, 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 company insiders.

Institutional Investors Weigh In On Axos Financial

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of Axos Financial by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 281,658 shares of the company’s stock valued at $17,711,000 after purchasing an additional 32,095 shares during the last quarter. Loomis Sayles & Co. L P grew its position in Axos Financial by 9.4% during the third quarter. Loomis Sayles & Co. L P now owns 453,425 shares of the company’s stock valued at $28,512,000 after buying an additional 39,091 shares during the period. Maverick Capital Ltd. increased its holdings in Axos Financial by 287.4% during the second quarter. Maverick Capital Ltd. now owns 36,200 shares of the company’s stock valued at $2,069,000 after buying an additional 26,855 shares during the last quarter. Algert Global LLC raised its position in Axos Financial by 9.9% in the second quarter. Algert Global LLC now owns 183,352 shares of the company’s stock worth $10,479,000 after acquiring an additional 16,448 shares during the period. Finally, Barclays PLC boosted its stake in shares of Axos Financial by 32.6% during the 3rd quarter. Barclays PLC now owns 142,715 shares of the company’s stock worth $8,974,000 after acquiring an additional 35,087 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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.