Wedbush Trims Axos Financial (NYSE:AX) Target Price to $75.00

Axos Financial (NYSE:AX) had its target price dropped by Wedbush from $80.00 to $75.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Wedbush’s target price would suggest a potential upside of 16.39% from the company’s previous close.

Several other research firms also recently weighed in on AX. Keefe, Bruyette & Woods downgraded Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 target price for the company. in a research report on Wednesday, July 31st. Piper Sandler lifted their price objective on shares of Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Raymond James upped their price target on Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $79.75.

Axos Financial Trading Down 2.2 %

AX stock traded down $1.42 during trading on Tuesday, hitting $64.44. The company had a trading volume of 162,456 shares, compared to its average volume of 595,093. The firm has a market capitalization of $3.67 billion, a P/E ratio of 8.77 and a beta of 1.40. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Axos Financial has a 52-week low of $32.05 and a 52-week high of $79.15. The company has a 50 day simple moving average of $67.39 and a 200-day simple moving average of $59.03.

Axos Financial (NYSE:AX) last announced its earnings results on Tuesday, July 30th. The company reported $1.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.80. Axos Financial had a return on equity of 18.57% and a net margin of 23.96%. The company had revenue of $484.29 million for the quarter, compared to analyst estimates of $296.02 million. During the same period in the prior year, the company posted $1.50 EPS. As a group, research analysts forecast that Axos Financial will post 7.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Andrew J. Micheletti sold 5,197 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was 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 $26,776,526.37. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.82% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in AX. Norges Bank bought a new position in Axos Financial in the fourth quarter valued at $21,573,000. PNC Financial Services Group Inc. lifted its position in shares of Axos Financial by 8.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,318 shares of the company’s stock worth $290,000 after buying an additional 394 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Axos Financial during the 4th quarter valued at approximately $100,000. Hsbc Holdings PLC acquired a new position in shares of Axos Financial in the fourth quarter valued at approximately $1,809,000. Finally, TFO Wealth Partners LLC raised its holdings in Axos Financial by 90,366.7% during the 4th quarter. TFO Wealth Partners LLC now owns 2,714 shares of the company’s stock worth $164,000 after purchasing an additional 2,711 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.