Axos Financial (NYSE:AX) Price Target Raised to $92.00 at Needham & Company LLC

Axos Financial (NYSE:AX) had its price objective lifted by Needham & Company LLC from $88.00 to $92.00 in a research report report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Several other research firms have also recently weighed in on AX. DA Davidson lowered their price objective on shares of Axos Financial from $88.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group began coverage on shares of Axos Financial in a research report on Wednesday, May 21st. They issued a “buy” rating and a $90.00 price objective for the company. Piper Sandler lowered their price objective on shares of Axos Financial from $84.00 to $80.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Raymond James Financial restated an “outperform” rating and issued a $72.00 price objective (down previously from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of Axos Financial from a “sell” rating to a “hold” rating in a research report on Friday, June 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.29.

Axos Financial Trading Up 0.7%

Shares of Axos Financial stock opened at $83.79 on Wednesday. The stock has a market capitalization of $4.72 billion, a P/E ratio of 11.42 and a beta of 1.29. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.19. The company has a 50-day simple moving average of $71.57 and a 200 day simple moving average of $68.31. Axos Financial has a 12-month low of $54.46 and a 12-month high of $88.46.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.07. The firm had revenue of $432.72 million during the quarter, compared to analysts’ expectations of $305.04 million. Axos Financial had a net margin of 21.93% and a return on equity of 17.58%. During the same quarter last year, the company posted $1.91 EPS. Research analysts expect that Axos Financial will post 7.22 earnings per share for the current fiscal year.

Axos Financial declared that its Board of Directors has initiated a stock repurchase plan on Monday, May 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other news, Director Paul Grinberg sold 30,000 shares of the firm’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $68.09, for a total value of $2,042,700.00. Following the transaction, the director owned 113,295 shares of the company’s stock, valued at approximately $7,714,256.55. This trade represents a 20.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.07% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund boosted its stake in Axos Financial by 1.1% during the 1st quarter. New York State Common Retirement Fund now owns 17,143 shares of the company’s stock worth $1,106,000 after acquiring an additional 181 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Axos Financial by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 13,386 shares of the company’s stock worth $864,000 after acquiring an additional 206 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in Axos Financial by 1.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 15,844 shares of the company’s stock worth $1,022,000 after acquiring an additional 223 shares during the last quarter. Stifel Financial Corp boosted its stake in Axos Financial by 3.4% during the 4th quarter. Stifel Financial Corp now owns 7,310 shares of the company’s stock worth $511,000 after acquiring an additional 241 shares during the last quarter. Finally, Hancock Whitney Corp boosted its stake in Axos Financial by 2.2% during the 1st quarter. Hancock Whitney Corp now owns 11,446 shares of the company’s stock worth $738,000 after acquiring an additional 244 shares during the last quarter. 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.