Axos Financial, Inc (NYSE:AX) Given Average Rating of “Buy” by Analysts

Shares of Axos Financial, Inc (NYSE:AX) have received a consensus rating of “Buy” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $114.8333.

Several equities analysts recently issued reports on AX shares. Keefe, Bruyette & Woods raised their price objective on Axos Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research note on Friday, July 31st. Needham & Company LLC boosted their target price on shares of Axos Financial from $110.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, July 31st. DA Davidson set a $121.00 target price on shares of Axos Financial in a report on Friday, July 31st. Weiss Ratings upgraded shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. Finally, Benchmark started coverage on shares of Axos Financial in a report on Wednesday, July 8th. They issued a “buy” rating and a $115.00 price target for the company.

Axos Financial Trading Down 0.9%

NYSE:AX opened at $99.13 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average is $95.24 and its two-hundred day moving average is $92.24. Axos Financial has a 52 week low of $74.89 and a 52 week high of $105.74. The company has a market cap of $5.64 billion, a PE ratio of 11.70 and a beta of 1.22.

Insider Activity

In other news, EVP Michael James Watson sold 1,653 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total transaction of $138,471.81. Following the sale, the executive vice president directly owned 4,592 shares in the company, valued at approximately $384,671.84. This represents a 26.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roque A. Santi sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total value of $52,650.00. Following the completion of the sale, the director directly owned 7,146 shares in the company, valued at approximately $752,473.80. This trade represents a 6.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.85% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Axos Financial

Several large investors have recently added to or reduced their stakes in AX. BlackRock Inc. bought a new stake in shares of Axos Financial during the second quarter valued at approximately $817,051,000. Bank of New York Mellon Corp bought a new position in Axos Financial in the 2nd quarter worth approximately $36,816,000. Franklin Resources Inc. grew its holdings in Axos Financial by 198.0% in the 3rd quarter. Franklin Resources Inc. now owns 414,178 shares of the company’s stock worth $35,060,000 after buying an additional 275,191 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Axos Financial by 56.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 371,086 shares of the company’s stock valued at $31,973,000 after acquiring an additional 133,529 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Axos Financial by 38.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 432,739 shares of the company’s stock valued at $37,203,000 after acquiring an additional 119,523 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Axos Financial Company Profile

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.