Axos Financial (NYSE:AX) Price Target Cut to $88.00 by Analysts at DA Davidson

Axos Financial (NYSE:AX) had its price target dropped by equities research analysts at DA Davidson from $96.00 to $88.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. DA Davidson’s target price suggests a potential upside of 27.56% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Raymond James reissued an “outperform” rating and issued a $80.00 price objective (up previously from $75.00) on shares of Axos Financial in a report on Wednesday. Needham & Company LLC lifted their price target on shares of Axos Financial from $85.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com raised shares of Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Axos Financial from $91.00 to $90.00 and set a “market perform” rating on the stock in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $84.17.

Axos Financial Stock Down 0.5 %

NYSE:AX traded down $0.35 on Thursday, reaching $68.99. 63,100 shares of the stock traded hands, compared to its average volume of 422,313. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 8.35 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. Axos Financial has a 12 month low of $44.10 and a 12 month high of $88.46. The company’s fifty day simple moving average is $74.78 and its 200 day simple moving average is $70.32.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.07. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. Equities analysts predict that Axos Financial will post 7.07 EPS for the current fiscal year.

Insider Activity

In other news, Director Edward James Ratinoff sold 4,002 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $79.41, for a total transaction of $317,798.82. Following the sale, the director now owns 46,209 shares of the company’s stock, valued at $3,669,456.69. This trade represents a 7.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 completion of the sale, the chief executive officer now directly owns 1,340,377 shares in the company, valued at $109,763,472.53. This represents a 8.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.07% of the company’s stock.

Institutional Investors Weigh In On Axos Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hancock Whitney Corp boosted its holdings in Axos Financial by 1.3% in the third quarter. Hancock Whitney Corp now owns 10,931 shares of the company’s stock valued at $687,000 after purchasing an additional 142 shares in the last quarter. Crossmark Global Holdings Inc. boosted its holdings in Axos Financial by 4.4% in the third quarter. Crossmark Global Holdings Inc. now owns 3,836 shares of the company’s stock valued at $241,000 after purchasing an additional 162 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Axos Financial by 45.7% in the third quarter. GAMMA Investing LLC now owns 982 shares of the company’s stock valued at $62,000 after purchasing an additional 308 shares in the last quarter. Amalgamated Bank lifted its stake in Axos Financial by 2.1% in the third quarter. Amalgamated Bank now owns 15,956 shares of the company’s stock valued at $1,003,000 after buying an additional 322 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its stake in Axos Financial by 0.8% in the third quarter. New York State Teachers Retirement System now owns 42,847 shares of the company’s stock valued at $2,694,000 after buying an additional 348 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

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.