Axos Financial (NYSE:AX) Reaches New 52-Week High – Here’s What Happened

Shares of Axos Financial, Inc. (NYSE:AX) reached a new 52-week high during trading on Monday . The stock traded as high as $84.33 and last traded at $82.57, with a volume of 85587 shares changing hands. The stock had previously closed at $80.62.

Analysts Set New Price Targets

Several research analysts recently issued reports on AX shares. Raymond James lifted their price objective on Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. StockNews.com cut Axos Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Needham & Company LLC upped their price objective on Axos Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler lifted their price objective on Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Finally, Wedbush reduced their target price on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Axos Financial presently has a consensus rating of “Hold” and an average target price of $79.80.

Axos Financial Price Performance

The company has a 50 day moving average of $66.09 and a 200 day moving average of $62.93. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 10.12 and a beta of 1.38. 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 (NYSE:AX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. The company had revenue of $512.87 million during the quarter, compared to the consensus estimate of $299.59 million. During the same quarter in the prior year, the company posted $1.41 EPS. As a group, equities research analysts forecast that Axos Financial, Inc. will post 7.02 EPS for the current fiscal year.

Insider Buying and Selling at Axos Financial

In other Axos Financial news, EVP Andrew J. Micheletti sold 5,197 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 424,149 shares in the company, valued at $26,776,526.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Andrew J. Micheletti sold 5,197 shares of the stock in a transaction on 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 sale, the executive vice president now owns 424,149 shares of the company’s stock, valued at $26,776,526.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of Axos Financial stock in a transaction 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 transaction, the chief executive officer now owns 1,340,377 shares in the company, valued at $109,763,472.53. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 5.07% of the stock is owned by company insiders.

Institutional Investors Weigh In On Axos Financial

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. lifted its holdings 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 buying an additional 321,494 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Axos Financial by 107.9% in the second 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. M&G Plc purchased a new position in Axos Financial in the first quarter valued at about $8,249,000. Epoch Investment Partners Inc. purchased a new position in shares of Axos Financial during the 1st quarter valued at approximately $7,829,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Axos Financial during the second quarter worth approximately $5,077,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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.