Axos Financial (NYSE:AX) Stock Price Up 4.7% – Here’s What Happened

Axos Financial, Inc. (NYSE:AX) shares rose 4.7% on Friday . The company traded as high as $63.38 and last traded at $63.23. Approximately 33,115 shares traded hands during trading, a decline of 94% from the average daily volume of 586,037 shares. The stock had previously closed at $60.41.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AX shares. Wedbush decreased their target price on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods downgraded shares of Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 target price for the company. in a research report on Wednesday, July 31st. Needham & Company LLC started coverage on shares of Axos Financial in a research report on Friday. They set a “buy” rating and a $82.00 target price for the company. Raymond James boosted their target price on shares of Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler boosted their target price on shares of Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.20.

Axos Financial Stock Performance

The business’s 50-day simple moving average is $64.31 and its two-hundred day simple moving average is $60.00. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 8.32 and a beta of 1.39. 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 data on Tuesday, July 30th. The company reported $1.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.80. The business had revenue of $484.29 million during the quarter, compared to the consensus estimate of $296.02 million. Axos Financial had a net margin of 23.96% and a return on equity of 18.57%. During the same quarter in the prior year, the firm posted $1.50 earnings per share. As a group, sell-side analysts expect that Axos Financial, Inc. will post 7.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Andrew J. Micheletti sold 5,197 shares of the company’s stock in a transaction dated 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.07% of the company’s stock.

Institutional Trading of Axos Financial

Several large investors have recently bought and sold shares of the business. American Century Companies Inc. grew its stake in Axos Financial by 26.2% during the 2nd quarter. American Century Companies Inc. now owns 1,549,748 shares of the company’s stock valued at $88,568,000 after acquiring an additional 321,494 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Axos Financial by 114.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 795,381 shares of the company’s stock valued at $43,428,000 after buying an additional 423,930 shares during the period. Emerald Mutual Fund Advisers Trust grew its stake in shares of Axos Financial by 9.6% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 382,276 shares of the company’s stock valued at $21,847,000 after buying an additional 33,366 shares during the period. Millennium Management LLC grew its stake in shares of Axos Financial by 107.9% in the 2nd quarter. Millennium Management LLC now owns 367,251 shares of the company’s stock valued at $20,988,000 after buying an additional 190,584 shares during the period. Finally, Stieven Capital Advisors L.P. grew its stake in shares of Axos Financial by 1.4% in the 2nd quarter. Stieven Capital Advisors L.P. now owns 328,433 shares of the company’s stock valued at $18,770,000 after buying an additional 4,400 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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.