Axos Financial (NYSE:AX) Announces Earnings Results

Axos Financial (NYSE:AX) posted its earnings results on Tuesday. The company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.75 by $0.07, Zacks reports. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%.

Axos Financial Trading Up 0.2 %

AX traded up $0.11 during mid-day trading on Tuesday, hitting $72.61. 452,923 shares of the stock were exchanged, compared to its average volume of 391,442. The firm’s fifty day moving average is $75.12 and its two-hundred day moving average is $70.25. Axos Financial has a 1-year low of $44.10 and a 1-year high of $88.46. The company has a market cap of $4.15 billion, a PE ratio of 8.79 and a beta of 1.46. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17.

Insider Buying and Selling at Axos Financial

In other news, Director Edward James Ratinoff sold 4,002 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $79.41, for a total transaction of $317,798.82. Following the completion of the transaction, the director now directly owns 46,209 shares of the company’s stock, valued at approximately $3,669,456.69. The trade was a 7.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory Garrabrants sold 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total transaction of $10,236,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. This trade 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 corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on AX. StockNews.com upgraded Axos Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Keefe, Bruyette & Woods increased their price target on Axos Financial from $74.00 to $91.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC restated a “buy” rating and issued a $85.00 price objective on shares of Axos Financial in a report on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.20.

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.