Piper Sandler Raises Axos Financial (NYSE:AX) Price Target to $25.00

Axos Financial (NYSE:AX) had its target price hoisted by Piper Sandler from $24.00 to $25.00 in a report released on Thursday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the stock.

AX has been the topic of several other reports. B. Riley lowered their target price on shares of Axos Financial from $39.00 to $28.00 and set a buy rating on the stock in a report on Monday, April 13th. Raymond James lowered their price objective on Axos Financial from $27.00 to $23.00 and set a strong-buy rating on the stock in a research note on Friday, May 15th. Wedbush upped their target price on Axos Financial from $21.00 to $27.00 and gave the company an in-line rating in a research report on Thursday, April 30th. ValuEngine upgraded Axos Financial from a sell rating to a hold rating in a research report on Thursday, July 2nd. Finally, Zacks Investment Research raised Axos Financial from a strong sell rating to a hold rating in a research note on Tuesday, July 14th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $25.75.

Shares of AX stock opened at $22.41 on Thursday. Axos Financial has a 52 week low of $13.69 and a 52 week high of $30.89. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 7.49 and a beta of 1.44. The company has a 50-day simple moving average of $20.84 and a 200 day simple moving average of $22.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.14 and a current ratio of 1.09.

Axos Financial (NYSE:AX) last announced its earnings results on Wednesday, July 29th. The company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.24. Axos Financial had a return on equity of 16.22% and a net margin of 25.24%. The company had revenue of $146.00 million for the quarter, compared to analyst estimates of $133.72 million. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. Sell-side analysts forecast that Axos Financial will post 2.14 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. APG Asset Management N.V. bought a new position in shares of Axos Financial in the first quarter worth about $24,272,000. Basswood Capital Management L.L.C. boosted its position in Axos Financial by 135.4% in the first quarter. Basswood Capital Management L.L.C. now owns 1,132,069 shares of the company’s stock valued at $20,524,000 after buying an additional 651,170 shares in the last quarter. Norges Bank bought a new stake in shares of Axos Financial during the fourth quarter worth $18,860,000. TCW Group Inc. acquired a new position in shares of Axos Financial during the first quarter worth $5,153,000. Finally, Man Group plc grew its position in Axos Financial by 966.1% during the 4th quarter. Man Group plc now owns 278,218 shares of the company’s stock worth $8,425,000 after acquiring an additional 252,122 shares during the last quarter. 77.21% of the stock is owned by hedge funds and other institutional investors.

Axos Financial Company Profile

Axos Financial, Inc operates as the holding company for BofI Federal Bank that provides consumer and business banking products in the United States. The company offers deposits products, including consumer and business checking, demand, savings, and time deposit accounts. It also provides single family and multifamily mortgage secured lending products; commercial real estate secured and commercial lending products; specialty finance factoring products; prime loans to customers secured by new and used automobiles; and term unsecured personal loans to individual borrowers, as well as overdraft lines of credit.

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