Wedbush Lowers Axos Financial (NYSE:AX) Price Target to $75.00

Axos Financial (NYSE:AX) had its price objective reduced by investment analysts at Wedbush from $80.00 to $75.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price target suggests a potential upside of 16.39% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. Piper Sandler raised their target price 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. Keefe, Bruyette & Woods cut Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 price objective on the stock. in a research report on Wednesday, July 31st. Finally, Raymond James increased their target price on Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $79.75.

Axos Financial Price Performance

NYSE:AX traded down $1.42 during mid-day trading on Tuesday, hitting $64.44. 162,456 shares of the stock traded hands, compared to its average volume of 595,093. The company has a market cap of $3.67 billion, a PE ratio of 8.77 and a beta of 1.40. Axos Financial has a 12-month low of $32.05 and a 12-month high of $79.15. The business’s 50-day moving average price is $67.39 and its 200 day moving average price is $59.03. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.80. The firm had revenue of $484.29 million during the quarter, compared to analyst estimates of $296.02 million. Axos Financial had a return on equity of 18.57% and a net margin of 23.96%. During the same quarter in the previous year, the company posted $1.50 earnings per share. On average, analysts expect that Axos Financial will post 7.22 EPS for the current fiscal year.

Insider Buying and Selling at Axos Financial

In related news, EVP Andrew J. Micheletti sold 5,197 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $63.13, for a total value of $328,086.61. Following the transaction, the executive vice president now directly owns 424,149 shares of the company’s stock, valued at approximately $26,776,526.37. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 4.82% of the company’s stock.

Institutional Investors Weigh In On Axos Financial

A number of institutional investors have recently bought and sold shares of AX. Lazard Asset Management LLC raised its position in Axos Financial by 6.1% during the first quarter. Lazard Asset Management LLC now owns 260,100 shares of the company’s stock valued at $14,055,000 after purchasing an additional 14,953 shares during the period. GSA Capital Partners LLP boosted its position in Axos Financial by 122.2% in the 1st quarter. GSA Capital Partners LLP now owns 31,440 shares of the company’s stock valued at $1,699,000 after buying an additional 17,288 shares during the period. Nomura Holdings Inc. purchased a new position in Axos Financial during the 4th quarter worth $5,495,000. First Eagle Investment Management LLC lifted its holdings in Axos Financial by 7.2% during the first quarter. First Eagle Investment Management LLC now owns 187,572 shares of the company’s stock worth $10,136,000 after buying an additional 12,650 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Axos Financial by 37.6% during the 1st quarter. BNP Paribas Financial Markets now owns 45,960 shares of the company’s stock valued at $2,484,000 after acquiring an additional 12,560 shares in the last quarter. Hedge funds and other 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.