Axos Financial (NYSE:AX) Given Buy Rating at Needham & Company LLC

Axos Financial (NYSE:AX)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a note issued to investors on Monday, Benzinga reports. They currently have a $128.00 price objective on the stock. Needham & Company LLC’s target price points to a potential upside of 46.15% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods boosted their price objective on Axos Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, July 31st. DA Davidson set a $121.00 price objective on Axos Financial in a report on Friday, July 31st. Weiss Ratings cut Axos Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, September 24th. Finally, Benchmark boosted their price objective on Axos Financial from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. One research 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. According to MarketBeat.com, Axos Financial has a consensus rating of “Moderate Buy” and an average target price of $115.67.

Axos Financial Stock Performance

NYSE AX traded down $1.45 during trading on Monday, reaching $87.58. 210,283 shares of the company’s stock were exchanged, compared to its average volume of 387,279. The business has a 50 day moving average price of $95.38 and a 200-day moving average price of $92.63. The stock has a market capitalization of $4.98 billion, a P/E ratio of 10.34 and a beta of 1.28. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.07 and a quick ratio of 1.07. Axos Financial has a fifty-two week low of $74.89 and a fifty-two week high of $105.74.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.37. The firm had revenue of $379.77 million for the quarter, compared to the consensus estimate of $375.54 million. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.During the same quarter in the previous year, the business earned $1.94 earnings per share. Sell-side analysts forecast that Axos Financial will post 9.69 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Roque Santi sold 500 shares of the business’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. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Axos Financial

Several institutional investors have recently made changes to their positions in AX. Eurizon Capital SGR S.p.A. bought a new stake in shares of Axos Financial in the fourth quarter valued at approximately $26,000. State of Wyoming bought a new stake in shares of Axos Financial in the first quarter valued at approximately $30,000. Public Employees Retirement System of Ohio bought a new stake in shares of Axos Financial in the second quarter valued at approximately $47,000. EverSource Wealth Advisors LLC boosted its stake in shares of Axos Financial by 42.8% in the first quarter. EverSource Wealth Advisors LLC now owns 767 shares of the company’s stock valued at $65,000 after buying an additional 230 shares during the period. Finally, Versant Capital Management Inc boosted its stake in shares of Axos Financial by 77.9% in the second quarter. Versant Capital Management Inc now owns 708 shares of the company’s stock valued at $69,000 after buying an additional 310 shares during the period. 83.79% of the stock is currently owned by institutional investors.

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.