Axos Financial (NYSE:AX) Hits New 12-Month High – Time to Buy?

Axos Financial, Inc (NYSE:AX) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $93.92 and last traded at $93.7050, with a volume of 57713 shares changing hands. The stock had previously closed at $90.91.

Analyst Ratings Changes

AX has been the subject of several research analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $100.00 target price (up from $95.00) on shares of Axos Financial in a research report on Tuesday, September 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Axos Financial from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, September 29th. Needham & Company LLC upped their target price on shares of Axos Financial from $105.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. DA Davidson raised their price target on Axos Financial from $106.00 to $107.50 and gave the company a “buy” rating in a research report on Monday, December 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $97.42.

Axos Financial Trading Up 2.9%

The firm’s 50 day moving average is $83.66 and its 200 day moving average is $84.57. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.12 and a quick ratio of 1.12. The company has a market capitalization of $5.30 billion, a PE ratio of 12.53 and a beta of 1.26.

Axos Financial (NYSE:AX) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.21. The firm had revenue of $323.39 million for the quarter, compared to analysts’ expectations of $319.96 million. Axos Financial had a net margin of 22.41% and a return on equity of 16.72%. During the same quarter in the previous year, the company earned $1.96 earnings per share. As a group, equities analysts predict that Axos Financial, Inc will post 7.22 EPS for the current year.

Insider Buying and Selling at Axos Financial

In other Axos Financial news, Director Tamara N. Bohlig sold 2,145 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $86.23, for a total transaction of $184,963.35. Following the transaction, the director directly owned 12,919 shares of the company’s stock, valued at approximately $1,114,005.37. The trade was a 14.24% 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 Edward James Ratinoff sold 2,145 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $84.59, for a total transaction of $181,445.55. Following the completion of the sale, the director owned 46,209 shares of the company’s stock, valued at $3,908,819.31. This trade represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.85% of the company’s stock.

Hedge Funds Weigh In On Axos Financial

A number of institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Axos Financial by 0.9% in the 1st quarter. Royal Bank of Canada now owns 108,986 shares of the company’s stock worth $7,031,000 after buying an additional 1,015 shares during the period. AQR Capital Management LLC boosted its stake in Axos Financial by 38.9% during the first quarter. AQR Capital Management LLC now owns 175,146 shares of the company’s stock worth $11,300,000 after acquiring an additional 49,007 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Axos Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company’s stock worth $2,099,000 after purchasing an additional 1,429 shares during the period. United Services Automobile Association bought a new position in shares of Axos Financial during the first quarter valued at approximately $212,000. Finally, Optimize Financial Inc lifted its holdings in shares of Axos Financial by 11.0% during the first quarter. Optimize Financial Inc now owns 5,864 shares of the company’s stock valued at $378,000 after purchasing an additional 580 shares during the last quarter. Institutional investors own 83.79% of the company’s stock.

About Axos Financial

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.