DA Davidson Comments on Axos Financial, Inc.’s FY2023 Earnings (NYSE:AX)

Axos Financial, Inc. (NYSE:AXGet Rating) – Research analysts at DA Davidson dropped their FY2023 earnings per share (EPS) estimates for shares of Axos Financial in a research note issued to investors on Wednesday, January 18th. DA Davidson analyst G. Tenner now expects that the company will post earnings per share of $4.88 for the year, down from their prior forecast of $4.92. The consensus estimate for Axos Financial’s current full-year earnings is $4.70 per share.

AX has been the subject of several other reports. Piper Sandler lifted their target price on Axos Financial to $47.00 in a research note on Tuesday, November 1st. Raymond James reduced their price target on Axos Financial from $52.00 to $50.00 and set a “strong-buy” rating on the stock in a research report on Monday, October 31st. Finally, StockNews.com initiated coverage on Axos Financial in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.33.

Axos Financial Stock Up 4.0 %

NYSE AX opened at $41.58 on Friday. The stock has a fifty day moving average of $38.99 and a 200-day moving average of $39.43. The stock has a market capitalization of $2.49 billion, a P/E ratio of 10.53 and a beta of 1.42. Axos Financial has a 52 week low of $33.91 and a 52 week high of $56.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.09 and a current ratio of 1.09.

Axos Financial (NYSE:AXGet Rating) last released its quarterly earnings results on Thursday, October 27th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.05. Axos Financial had a return on equity of 16.49% and a net margin of 28.47%. The firm had revenue of $207.68 million during the quarter, compared to analysts’ expectations of $197.50 million.

Institutional Trading of Axos Financial

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of Axos Financial by 0.9% in the third quarter. BlackRock Inc. now owns 8,565,494 shares of the company’s stock valued at $293,197,000 after purchasing an additional 75,256 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Axos Financial by 1.4% in the third quarter. Vanguard Group Inc. now owns 5,944,406 shares of the company’s stock valued at $203,477,000 after acquiring an additional 80,318 shares during the last quarter. State Street Corp increased its position in shares of Axos Financial by 6.6% in the second quarter. State Street Corp now owns 2,312,371 shares of the company’s stock valued at $82,899,000 after acquiring an additional 142,385 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Axos Financial by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,146,845 shares of the company’s stock valued at $73,488,000 after acquiring an additional 35,534 shares during the last quarter. Finally, Wasatch Advisors Inc. increased its position in shares of Axos Financial by 1.5% in the first quarter. Wasatch Advisors Inc. now owns 1,831,802 shares of the company’s stock valued at $84,977,000 after acquiring an additional 26,763 shares during the last quarter. 76.97% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Axos Financial news, SVP Ron Pitters sold 2,000 shares of Axos Financial stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $42.54, for a total transaction of $85,080.00. Following the transaction, the senior vice president now directly owns 11,315 shares in the company, valued at $481,340.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.81% of the company’s stock.

About Axos Financial

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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.

See Also

Earnings History and Estimates for Axos Financial (NYSE:AX)

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