Axos Financial (NYSE:AX) Announces Earnings Results

Axos Financial (NYSE:AX) issued its quarterly earnings results on Wednesday. The company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.16, Briefing.com reports. Axos Financial had a return on equity of 18.57% and a net margin of 23.96%. The business had revenue of $512.87 million during the quarter, compared to analysts’ expectations of $299.59 million. During the same period in the previous year, the company posted $1.41 earnings per share.

Axos Financial Stock Up 3.4 %

NYSE AX traded up $2.29 during mid-day trading on Thursday, hitting $68.78. The company’s stock had a trading volume of 410,324 shares, compared to its average volume of 574,213. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of 9.34 and a beta of 1.39. The company’s 50 day simple moving average is $64.89 and its 200 day simple moving average is $61.33. Axos Financial has a twelve month low of $32.05 and a twelve month high of $79.15. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17.

Analyst Ratings Changes

AX has been the topic of a number of analyst reports. Keefe, Bruyette & Woods downgraded shares of Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 price objective on the stock. in a research note on Wednesday, July 31st. Raymond James upped their target price on Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler raised their price target 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. Wedbush cut their price objective on Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th. Finally, Needham & Company LLC boosted their target price on shares of Axos Financial from $82.00 to $85.00 and gave the company a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.80.

Insiders Place Their Bets

In related news, EVP Andrew J. Micheletti sold 5,197 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $63.13, for a total transaction of $328,086.61. Following the transaction, the executive vice president now directly owns 424,149 shares of the company’s stock, valued at $26,776,526.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.82% 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.