Piper Sandler Increases Axos Financial (NYSE:AX) Price Target to $84.00

Axos Financial (NYSE:AX) had its price target lifted by research analysts at Piper Sandler from $68.00 to $84.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 8.25% from the company’s current price.

AX has been the subject of a number of other reports. Wedbush restated a “neutral” rating and issued a $60.00 price objective on shares of Axos Financial in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods cut shares of Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 target price for the company. in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Axos Financial has an average rating of “Hold” and an average price target of $71.25.

Axos Financial Stock Up 1.2 %

Axos Financial stock opened at $77.60 on Wednesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.20. Axos Financial has a 1-year low of $32.05 and a 1-year high of $79.15. The firm’s fifty day simple moving average is $59.46 and its 200-day simple moving average is $55.51. The company has a market capitalization of $4.42 billion, a P/E ratio of 10.53 and a beta of 1.43.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.80. Axos Financial had a return on equity of 18.57% and a net margin of 24.39%. During the same period in the previous year, the company earned $1.50 earnings per share. Sell-side analysts forecast that Axos Financial will post 6.76 earnings per share for the current fiscal year.

Institutional Trading of Axos Financial

Several institutional investors have recently made changes to their positions in AX. Dimensional Fund Advisors LP raised its position in Axos Financial by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,724,331 shares of the company’s stock worth $148,755,000 after purchasing an additional 134,266 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Axos Financial by 114.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 795,381 shares of the company’s stock valued at $43,428,000 after purchasing an additional 423,930 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Axos Financial by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 613,391 shares of the company’s stock worth $33,491,000 after purchasing an additional 10,716 shares in the last quarter. Norges Bank bought a new stake in Axos Financial during the 4th quarter worth approximately $21,573,000. Finally, Cubist Systematic Strategies LLC increased its holdings in Axos Financial by 167.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 369,759 shares of the company’s stock valued at $20,189,000 after purchasing an additional 231,722 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

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.