Axos Financial (NYSE:AX) Sets New 12-Month High – Still a Buy?

Shares of Axos Financial, Inc. (NYSE:AX) reached a new 52-week high during trading on Monday . The stock traded as high as $87.83 and last traded at $87.52, with a volume of 5717 shares trading hands. The stock had previously closed at $84.66.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Axos Financial from $72.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, November 1st. Raymond James boosted their target price on shares of Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Wedbush dropped 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. StockNews.com downgraded shares of Axos Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Finally, 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 report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Axos Financial currently has an average rating of “Hold” and a consensus target price of $79.80.

Axos Financial Stock Down 2.6 %

The business’s fifty day moving average price is $69.34 and its two-hundred day moving average price is $64.50. 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 $4.82 billion, a P/E ratio of 10.21 and a beta of 1.38.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. The firm 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 18.99%. During the same period in the previous year, the company earned $1.41 earnings per share. Equities analysts expect that Axos Financial, Inc. will post 7.02 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Gregory Garrabrants sold 125,000 shares of the company’s 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Andrew J. Micheletti sold 5,197 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $63.13, for a total transaction of $328,086.61. Following the completion of the transaction, the executive vice president now owns 424,149 shares in the company, valued at approximately $26,776,526.37. This trade represents a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,199 shares of company stock valued at $10,882,135. Company insiders own 5.07% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its position in Axos Financial by 26.2% in the 2nd quarter. American Century Companies Inc. now owns 1,549,748 shares of the company’s stock worth $88,568,000 after purchasing an additional 321,494 shares in the last quarter. Wasatch Advisors LP increased its holdings in Axos Financial by 34.0% in the third quarter. Wasatch Advisors LP now owns 1,154,737 shares of the company’s stock valued at $72,610,000 after buying an additional 292,952 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Axos Financial by 107.9% during the 2nd 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. State Street Corp grew its position in shares of Axos Financial by 5.5% during the 3rd quarter. State Street Corp now owns 3,178,708 shares of the company’s stock valued at $199,877,000 after acquiring an additional 164,997 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Axos Financial by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,444,756 shares of the company’s stock valued at $90,861,000 after purchasing an additional 91,797 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.