Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Axos Financial (NYSE:AX) Stock

Axos Financial (NYSE:AX) had its target price hoisted by equities researchers at Keefe, Bruyette & Woods from $72.00 to $74.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 12.38% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Piper Sandler lifted their price target on shares of Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Raymond James lifted their price target on shares of 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 lifted their price target on shares of Axos Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wedbush dropped their target price on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a report 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $79.80.

Axos Financial Stock Performance

NYSE AX opened at $65.85 on Friday. The firm’s fifty day moving average price is $64.88 and its two-hundred day moving average price is $61.48. The stock has a market cap of $3.75 billion, a PE ratio of 7.97 and a beta of 1.39. Axos Financial has a fifty-two week low of $32.05 and a fifty-two week high of $79.15. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.08 and a current ratio of 1.08.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. The company had revenue of $512.87 million for the quarter, compared to analyst estimates of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 19.47%. During the same quarter in the previous year, the business earned $1.41 earnings per share. On average, equities analysts expect that Axos Financial will post 7.03 EPS for the current fiscal year.

Insider Activity at Axos Financial

In related news, EVP Andrew J. Micheletti sold 5,197 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $63.13, for a total value of $328,086.61. Following the transaction, the executive vice president now owns 424,149 shares in the company, valued at $26,776,526.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.07% of the stock is owned by company insiders.

Hedge Funds Weigh In On Axos Financial

Several institutional investors have recently made changes to their positions in AX. American Century Companies Inc. raised its holdings in shares of Axos Financial by 26.2% during the second quarter. American Century Companies Inc. now owns 1,549,748 shares of the company’s stock valued at $88,568,000 after purchasing an additional 321,494 shares during the period. Millennium Management LLC increased its position in shares of Axos Financial by 107.9% during the second quarter. Millennium Management LLC now owns 367,251 shares of the company’s stock worth $20,988,000 after acquiring an additional 190,584 shares in the last quarter. M&G Plc bought a new stake in shares of Axos Financial during the first quarter worth about $8,249,000. Epoch Investment Partners Inc. bought a new stake in shares of Axos Financial during the first quarter worth about $7,829,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Axos Financial during the second quarter worth about $5,077,000. Institutional investors and hedge funds 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.