Axos Financial (NYSE:AX) Cut to Sell at StockNews.com

StockNews.com downgraded shares of Axos Financial (NYSE:AX) from a hold rating to a sell rating in a report released on Wednesday.

AX has been the subject of several other research reports. 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 report on Thursday, October 31st. Piper Sandler increased their price target on shares of Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Wedbush dropped their price target on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Raymond James lifted their target price on Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods upped their target price on shares of Axos Financial from $72.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $79.80.

Axos Financial Price Performance

AX opened at $80.16 on Wednesday. The company’s 50-day simple moving average is $67.01 and its two-hundred day simple moving average is $63.38. 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 stock has a market capitalization of $4.58 billion, a P/E ratio of 9.70 and a beta of 1.38. Axos Financial has a 52-week low of $36.93 and a 52-week high of $85.54.

Axos Financial (NYSE:AX) last issued its earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.16. The company had revenue of $512.87 million for the quarter, compared to analysts’ expectations of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. During the same quarter last year, the company posted $1.41 earnings per share. As a group, analysts predict that Axos Financial will post 7.02 EPS for the current year.

Insider Transactions at Axos Financial

In other Axos Financial news, EVP Andrew J. Micheletti sold 5,197 shares of the 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 owns 424,149 shares in the company, valued at $26,776,526.37. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward James Ratinoff sold 4,002 shares of the business’s 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 completion of the sale, the director now owns 46,209 shares in the company, valued at approximately $3,669,456.69. This trade represents a 7.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,199 shares of company stock valued at $10,882,135. 5.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AX. State Street Corp boosted its position in shares of Axos Financial by 5.5% during the third quarter. State Street Corp now owns 3,178,708 shares of the company’s stock valued at $199,877,000 after buying an additional 164,997 shares during the period. American Century Companies Inc. lifted its stake in shares of Axos Financial by 26.2% during the 2nd quarter. American Century Companies Inc. now owns 1,549,748 shares of the company’s stock worth $88,568,000 after acquiring an additional 321,494 shares during the last quarter. Wasatch Advisors LP boosted its holdings in Axos Financial by 34.0% during the 3rd quarter. Wasatch Advisors LP now owns 1,154,737 shares of the company’s stock valued at $72,610,000 after acquiring an additional 292,952 shares during the period. Geneva Capital Management LLC grew its position in Axos Financial by 0.3% in the 3rd quarter. Geneva Capital Management LLC now owns 708,520 shares of the company’s stock valued at $44,552,000 after acquiring an additional 1,976 shares during the last quarter. Finally, Emerald Advisers LLC increased its stake in Axos Financial by 14.4% in the third quarter. Emerald Advisers LLC now owns 505,544 shares of the company’s stock worth $31,789,000 after purchasing an additional 63,458 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

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.