Axos Financial (NYSE:AX) Shares Gap Down Following Analyst Downgrade

Axos Financial, Inc. (NYSE:AX)’s share price gapped down before the market opened on Wednesday after DA Davidson lowered their price target on the stock from $96.00 to $88.00. The stock had previously closed at $72.40, but opened at $70.51. DA Davidson currently has a buy rating on the stock. Axos Financial shares last traded at $69.71, with a volume of 85,133 shares.

Other research analysts have also recently issued research reports about the stock. Raymond James restated an “outperform” rating and issued a $80.00 target price (up previously from $75.00) on shares of Axos Financial in a report on Wednesday. Keefe, Bruyette & Woods decreased their price objective on shares of Axos Financial from $91.00 to $90.00 and set a “market perform” rating for the company in a research note on Wednesday. StockNews.com upgraded Axos Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Needham & Company LLC upped their target price on Axos Financial from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.17.

Insiders Place Their Bets

In other Axos Financial news, CEO Gregory Garrabrants sold 125,000 shares of Axos Financial stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total value of $10,236,250.00. Following the sale, the chief executive officer now owns 1,340,377 shares of the company’s stock, valued at approximately $109,763,472.53. The trade was a 8.53 % 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 4,002 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $79.41, for a total value of $317,798.82. Following the transaction, the director now directly owns 46,209 shares of the company’s stock, valued at approximately $3,669,456.69. This trade represents a 7.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Axos Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Csenge Advisory Group lifted its stake in shares of Axos Financial by 55.1% in the fourth quarter. Csenge Advisory Group now owns 6,329 shares of the company’s stock valued at $442,000 after purchasing an additional 2,248 shares during the period. New York State Teachers Retirement System increased its holdings in Axos Financial by 0.7% in the fourth quarter. New York State Teachers Retirement System now owns 43,126 shares of the company’s stock valued at $3,012,000 after buying an additional 279 shares in the last quarter. Van ECK Associates Corp acquired a new stake in shares of Axos Financial during the 4th quarter valued at approximately $3,349,000. Empowered Funds LLC boosted its stake in shares of Axos Financial by 28.2% during the 4th quarter. Empowered Funds LLC now owns 16,306 shares of the company’s stock worth $1,139,000 after acquiring an additional 3,588 shares in the last quarter. Finally, SkyOak Wealth LLC acquired a new stake in shares of Axos Financial in the 4th quarter worth approximately $328,000. Institutional investors and hedge funds own 83.79% of the company’s stock.

Axos Financial Stock Up 0.5 %

The firm has a 50 day moving average of $74.53 and a two-hundred day moving average of $70.31. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $3.98 billion, a PE ratio of 8.44 and a beta of 1.46.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.07. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. Equities research analysts anticipate that Axos Financial, Inc. will post 7.07 earnings per share for the current year.

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.