Raymond James Reaffirms “Outperform” Rating for Axos Financial (NYSE:AX)

Axos Financial (NYSE:AX)‘s stock had its “outperform” rating reiterated by Raymond James in a report released on Wednesday,Benzinga reports. They currently have a $80.00 price objective on the stock, up from their previous price objective of $75.00. Raymond James’ price target would indicate a potential upside of 14.76% from the stock’s current price.

A number of other brokerages have also weighed in on AX. Needham & Company LLC increased their price objective on Axos Financial from $85.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods dropped their target price on Axos Financial from $91.00 to $90.00 and set a “market perform” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Axos Financial currently has an average rating of “Moderate Buy” and a consensus price target of $84.17.

Axos Financial Stock Up 0.5 %

Shares of AX stock opened at $69.71 on Wednesday. The stock’s 50-day simple moving average is $74.53 and its 200-day simple moving average is $70.31. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $3.98 billion, a PE ratio of 8.44 and a beta of 1.46. Axos Financial has a fifty-two week low of $44.10 and a fifty-two week high of $88.46.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.07. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. Equities analysts expect that Axos Financial will post 7.07 earnings per share for the current year.

Insiders Place Their Bets

In other Axos Financial news, Director Edward James Ratinoff sold 4,002 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $79.41, for a total transaction of $317,798.82. Following the transaction, the director now owns 46,209 shares in the company, valued at approximately $3,669,456.69. This represents 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 stock was 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 owns 1,340,377 shares in the company, valued at $109,763,472.53. This represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Axos Financial

A number of hedge funds have recently bought and sold shares of AX. JPMorgan Chase & Co. lifted its position in shares of Axos Financial by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 281,658 shares of the company’s stock valued at $17,711,000 after acquiring an additional 32,095 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in shares of Axos Financial by 9.4% in the third quarter. Loomis Sayles & Co. L P now owns 453,425 shares of the company’s stock valued at $28,512,000 after acquiring an additional 39,091 shares in the last quarter. Barclays PLC lifted its position in shares of Axos Financial by 32.6% in the third quarter. Barclays PLC now owns 142,715 shares of the company’s stock valued at $8,974,000 after acquiring an additional 35,087 shares in the last quarter. Raymond James & Associates lifted its position in shares of Axos Financial by 29.7% in the third quarter. Raymond James & Associates now owns 109,964 shares of the company’s stock valued at $6,915,000 after acquiring an additional 25,158 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Axos Financial in the fourth quarter valued at approximately $9,849,000. Hedge funds and other institutional investors 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.