Axos Financial (NYSE:AX) Releases Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Axos Financial (NYSE:AX) posted its earnings results on Tuesday. The company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.07, Zacks reports. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%.

Axos Financial Price Performance

NYSE:AX traded up $0.11 during trading hours on Tuesday, hitting $72.61. 452,923 shares of the stock traded hands, compared to its average volume of 391,442. The company has a market cap of $4.15 billion, a price-to-earnings ratio of 8.79 and a beta of 1.46. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock has a 50 day moving average price of $75.12 and a 200 day moving average price of $70.25. Axos Financial has a 1 year low of $44.10 and a 1 year high of $88.46.

Analysts Set New Price Targets

AX has been the subject of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $85.00 price target on shares of Axos Financial in a report on Tuesday, January 21st. StockNews.com raised shares of Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.20.

Insider Buying and Selling

In other news, Director Edward James Ratinoff sold 4,002 shares of Axos Financial stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $79.41, for a total value of $317,798.82. Following the sale, the director now directly owns 46,209 shares of the company’s stock, valued at approximately $3,669,456.69. The trade was a 7.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total value of $10,236,250.00. Following the transaction, the chief executive officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by company 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.