Axos Financial (NYSE:AX) Trading Up 14.7% – What’s Next?

Axos Financial, Inc. (NYSE:AX) was up 14.7% during mid-day trading on Wednesday . The company traded as high as $78.07 and last traded at $77.52. Approximately 364,201 shares traded hands during trading, a decline of 36% from the average daily volume of 573,147 shares. The stock had previously closed at $67.61.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on AX shares. Piper Sandler upped their price target on shares of Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Raymond James increased their target price on Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Needham & Company LLC boosted their price target on Axos Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods increased their price objective on Axos Financial from $72.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Finally, Wedbush cut their target price on Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Axos Financial currently has a consensus rating of “Moderate Buy” and an average target price of $79.80.

Axos Financial Trading Up 20.6 %

The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 9.21 and a beta of 1.38. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50-day moving average of $64.80 and a 200-day moving average of $61.90.

Axos Financial (NYSE:AX) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.80 by $0.16. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. The firm had revenue of $512.87 million for the quarter, compared to analyst estimates of $299.59 million. During the same quarter in the previous year, the firm earned $1.41 EPS. Research analysts anticipate that Axos Financial, Inc. will post 6.98 EPS for the current year.

Insiders Place Their Bets

In other 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 value of $328,086.61. Following the sale, the executive vice president now directly owns 424,149 shares of the company’s stock, valued at approximately $26,776,526.37. This represents a 0.00 % 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. Insiders own 5.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Kathleen S. Wright Associates Inc. acquired a new position in Axos Financial in the 3rd quarter valued at about $27,000. Hollencrest Capital Management acquired a new position in shares of Axos Financial in the second quarter valued at approximately $25,000. EntryPoint Capital LLC increased its stake in shares of Axos Financial by 816.7% during the first quarter. EntryPoint Capital LLC now owns 495 shares of the company’s stock worth $27,000 after purchasing an additional 441 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Axos Financial by 881.8% during the third quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock worth $41,000 after purchasing an additional 582 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in Axos Financial in the 3rd quarter valued at $41,000. 83.79% of the stock is owned by institutional investors and hedge funds.

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.