Axos Financial (NYSE:AX) Lowered to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Axos Financial (NYSE:AX) from a hold rating to a sell rating in a research report report published on Wednesday morning.

Several other analysts have also issued reports on AX. Raymond James boosted their target price on Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Piper Sandler upped their price objective on shares of Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods lifted their target price on shares of Axos Financial from $72.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, November 1st. Needham & Company LLC upped their price target on shares of Axos Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Wedbush reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $79.80.

Axos Financial Price Performance

AX opened at $81.79 on Wednesday. Axos Financial has a fifty-two week low of $34.99 and a fifty-two week high of $85.54. The firm has a 50-day moving average of $66.38 and a 200 day moving average of $63.06. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $4.67 billion, a P/E ratio of 9.90 and a beta of 1.38.

Axos Financial (NYSE:AX) last released its earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. 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, research analysts expect that Axos Financial will post 7.02 EPS for the current year.

Insider Activity

In other news, EVP Andrew J. Micheletti sold 5,197 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $63.13, for a total transaction of $328,086.61. Following the completion of the transaction, the executive vice president now directly owns 424,149 shares in the company, valued at $26,776,526.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Gregory Garrabrants sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total value of $10,236,250.00. Following the transaction, the chief executive officer now directly owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Andrew J. Micheletti sold 5,197 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $63.13, for a total transaction of $328,086.61. Following the completion of the sale, the executive vice president now directly owns 424,149 shares in the company, valued at $26,776,526.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axos Financial

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC boosted its holdings in shares of Axos Financial by 24.5% in the 1st quarter. SG Americas Securities LLC now owns 5,800 shares of the company’s stock worth $313,000 after purchasing an additional 1,142 shares in the last quarter. Sei Investments Co. grew its position in Axos Financial by 9.7% during the first quarter. Sei Investments Co. now owns 49,233 shares of the company’s stock valued at $2,660,000 after acquiring an additional 4,370 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of Axos Financial by 36.7% during the first quarter. Russell Investments Group Ltd. now owns 18,447 shares of the company’s stock worth $997,000 after acquiring an additional 4,957 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Axos Financial by 5.9% in the 1st quarter. ProShare Advisors LLC now owns 10,948 shares of the company’s stock worth $592,000 after acquiring an additional 612 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Axos Financial by 54.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 25,012 shares of the company’s stock valued at $1,352,000 after purchasing an additional 8,770 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

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.