Axos Financial (NYSE:AX) Posts Earnings Results, Beats Estimates By $0.16 EPS

Axos Financial (NYSE:AX) posted its earnings results on Wednesday. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16, Briefing.com reports. Axos Financial had a net margin of 24.07% and a return on equity of 19.47%. The business had revenue of $512.87 million for 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 Performance

Shares of AX opened at $65.87 on Friday. The firm has a 50-day moving average price of $64.96 and a 200 day moving average price of $61.37. The firm has a market capitalization of $3.75 billion, a PE ratio of 7.97 and a beta of 1.39. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Axos Financial has a 52-week low of $32.05 and a 52-week high of $79.15.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of Axos Financial from $72.00 to $74.00 and gave the company a “market perform” rating in a report on Friday. Piper Sandler upped their price target 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. 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 research note on Thursday. 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. Finally, Wedbush lowered their target price on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Axos Financial currently has a consensus rating of “Moderate Buy” and an average price target of $79.80.

Insider Activity at Axos Financial

In related news, EVP Andrew J. Micheletti sold 5,197 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $63.13, for a total value of $328,086.61. Following the completion of the transaction, the executive vice president now owns 424,149 shares in the company, valued at $26,776,526.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 5.07% of the stock is currently owned by insiders.

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.