Axos Financial (NYSE:AX) Shares Up 9% After Insider Buying Activity

Shares of Axos Financial, Inc. (NYSE:AX – Get Rating) shot up 9% during mid-day trading on Tuesday following insider buying activity. The company traded as high as $38.28 and last traded at $37.06. 230,004 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 356,024 shares. The stock had previously closed at $34.00.

Specifically, Director Paul Grinberg purchased 1,320 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was bought at an average price of $37.80 per share, for a total transaction of $49,896.00. Following the completion of the purchase, the director now directly owns 69,542 shares of the company’s stock, valued at $2,628,687.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Andrew J. Micheletti sold 10,000 shares of Axos Financial stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $48.02, for a total value of $480,200.00. Following the transaction, the executive vice president now directly owns 514,689 shares in the company, valued at approximately $24,715,365.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Paul Grinberg bought 1,320 shares of the firm’s stock in a transaction on Friday, March 10th. The shares were bought at an average price of $37.80 per share, for a total transaction of $49,896.00. Following the completion of the transaction, the director now directly owns 69,542 shares in the company, valued at approximately $2,628,687.60. The disclosure for this purchase can be found here. 4.81% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on AX. Wedbush raised their target price on shares of Axos Financial from $42.00 to $48.00 and gave the stock a “neutral” rating in a research report on Monday, January 30th. Raymond James lowered Axos Financial from a “strong-buy” rating to an “outperform” rating and set a $55.00 target price on the stock. in a research report on Tuesday, February 21st. Finally, Piper Sandler upped their price target on Axos Financial from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, January 27th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Axos Financial presently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Axos Financial Stock Performance

The firm has a 50 day moving average of $44.79 and a 200-day moving average of $40.32. The stock has a market capitalization of $2.18 billion, a PE ratio of 8.44 and a beta of 1.46. 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:AX – Get Rating) last issued its earnings results on Thursday, January 26th. The company reported $1.38 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.15. The company had revenue of $228.24 million for the quarter, compared to analyst estimates of $217.27 million. Axos Financial had a return on equity of 16.49% and a net margin of 28.47%. The business’s revenue was up 29.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.04 EPS. Research analysts forecast that Axos Financial, Inc. will post 4.68 earnings per share for the current year.

Institutional Investors Weigh In On Axos Financial

Institutional investors have recently bought and sold shares of the business. Lazard Asset Management LLC acquired a new position in Axos Financial during the 2nd quarter valued at about $26,000. Huntington National Bank increased its stake in Axos Financial by 231.5% during the 3rd quarter. Huntington National Bank now owns 1,051 shares of the company’s stock worth $36,000 after purchasing an additional 734 shares in the last quarter. State of Wyoming increased its stake in Axos Financial by 50.0% during the 4th quarter. State of Wyoming now owns 1,131 shares of the company’s stock worth $43,000 after purchasing an additional 377 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Axos Financial during the 3rd quarter worth approximately $49,000. Finally, National Bank of Canada FI increased its stake in Axos Financial by 140.0% during the 4th quarter. National Bank of Canada FI now owns 2,203 shares of the company’s stock worth $84,000 after purchasing an additional 1,285 shares in the last quarter. Institutional investors and hedge funds own 76.97% of the company’s stock.

About Axos Financial

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Axos Financial, Inc is a holding company, which engages in the provision of banking and financing services. It operates through the following segments: Banking Business and Securities Business. The Banking Business segment includes online banking, concierge banking, prepaid card services, and mortgage, vehicle, and unsecured lending through online and telephonic distribution channels.