DA Davidson Weighs in on Axos Financial, Inc.’s FY2024 Earnings (NYSE:AX)

Axos Financial, Inc. (NYSE:AX) – Stock analysts at DA Davidson raised their FY2024 earnings per share estimates for Axos Financial in a report issued on Thursday, May 2nd. DA Davidson analyst G. Tenner now expects that the company will post earnings of $6.54 per share for the year, up from their prior estimate of $6.45. The consensus estimate for Axos Financial’s current full-year earnings is $6.61 per share. DA Davidson also issued estimates for Axos Financial’s FY2025 earnings at $6.88 EPS.

Axos Financial (NYSE:AX) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.21. Axos Financial had a return on equity of 18.57% and a net margin of 24.39%. The business had revenue of $476.73 million for the quarter, compared to analysts’ expectations of $277.85 million. During the same quarter in the previous year, the business posted $1.35 EPS.

AX has been the topic of a number of other reports. Wedbush restated a “neutral” rating and set a $60.00 price objective on shares of Axos Financial in a report on Wednesday. StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Raymond James upped their price objective on Axos Financial from $45.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 31st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $79.00 target price (up previously from $77.00) on shares of Axos Financial in a research report on Thursday. Finally, Piper Sandler upped their price target on Axos Financial from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Axos Financial has a consensus rating of “Moderate Buy” and an average price target of $67.25.

Axos Financial Stock Performance

Shares of AX opened at $57.53 on Friday. The firm has a market cap of $3.28 billion, a P/E ratio of 7.81 and a beta of 1.42. Axos Financial has a twelve month low of $32.05 and a twelve month high of $60.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.07 and a current ratio of 1.07. The firm’s 50 day moving average price is $51.59 and its two-hundred day moving average price is $48.91.

Hedge Funds Weigh In On Axos Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of AX. Newbridge Financial Services Group Inc. bought a new stake in Axos Financial in the fourth quarter valued at approximately $26,000. Investment Research & Advisory Group Inc. bought a new stake in Axos Financial in the 1st quarter valued at $27,000. Carmel Capital Partners LLC acquired a new stake in Axos Financial during the 3rd quarter valued at $30,000. FinTrust Capital Advisors LLC acquired a new stake in Axos Financial during the 4th quarter valued at $44,000. Finally, Covestor Ltd boosted its position in Axos Financial by 34.1% during the third quarter. Covestor Ltd now owns 1,302 shares of the company’s stock worth $49,000 after purchasing an additional 331 shares during the period. Institutional investors own 83.79% of the company’s stock.

Insider Activity

In related news, Director Sara Wardell-Smith bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were acquired at an average price of $49.75 per share, for a total transaction of $248,750.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $248,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Sara Wardell-Smith purchased 5,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were purchased at an average cost of $49.75 per share, with a total value of $248,750.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $248,750. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Andrew J. Micheletti sold 1,548 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $51.57, for a total transaction of $79,830.36. Following the completion of the sale, the executive vice president now owns 427,535 shares of the company’s stock, valued at approximately $22,047,979.95. The disclosure for this sale can be found here. 4.82% of the stock is owned by corporate insiders.

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.