Needham & Company LLC Reaffirms “Buy” Rating for Axos Financial (NYSE:AX)

Axos Financial (NYSE:AX)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued to investors on Monday, Benzinga reports. They currently have a $128.00 price objective on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 45.97% from the stock’s previous close.

A number of other equities analysts also recently commented on AX. DA Davidson set a $121.00 price objective on shares of Axos Financial in a report on Friday, July 31st. Keefe, Bruyette & Woods raised their price objective on shares of Axos Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. Benchmark lifted their price objective on Axos Financial from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Weiss Ratings cut Axos Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

Axos Financial Stock Performance

Shares of NYSE AX traded down $1.34 during trading hours on Monday, hitting $87.69. 70,530 shares of the stock were exchanged, compared to its average volume of 386,724. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.07. The company’s 50 day moving average is $95.38 and its 200 day moving average is $92.63. The firm has a market capitalization of $4.99 billion, a P/E ratio of 10.35 and a beta of 1.28. Axos Financial has a one year low of $74.89 and a one year high of $105.74.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.37. Axos Financial had a net margin of 22.39% and a return on equity of 16.96%. The firm had revenue of $379.77 million during the quarter, compared to the consensus estimate of $375.54 million. During the same period in the prior year, the firm earned $1.94 EPS. On average, research analysts expect that Axos Financial will post 9.69 EPS for the current year.

Insider Buying and Selling at Axos Financial

In other news, Director Roque Santi sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.30, for a total value of $52,650.00. Following the completion of the transaction, the director owned 7,146 shares in the company, valued at $752,473.80. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axos Financial

A number of institutional investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Axos Financial during the 2nd quarter valued at $1,281,000. Bullseye Investment Management LLC acquired a new stake in Axos Financial in the second quarter valued at approximately $1,537,000. BlackRock Inc. acquired a new position in Axos Financial during the second quarter worth $817,051,000. The Manufacturers Life Insurance Company acquired a new position in Axos Financial during the second quarter worth $2,867,000. Finally, Bank of America Corp DE bought a new position in Axos Financial during the second quarter valued at about $16,437,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

About Axos Financial

Axos Financial, Inc is the holding company for Axos Bank, a nationwide digital bank that provides banking and financial services to consumers and businesses. The company operates primarily through online and mobile platforms, allowing it to serve customers across the United States without relying on a traditional branch network.

Axos Bank offers personal banking products such as checking and savings accounts, certificates of deposit, mortgages, personal loans and other consumer lending products.