Axos Financial (NYSE:AX) Sees Strong Trading Volume

Shares of Axos Financial, Inc. (NYSE:AX) saw unusually-high trading volume on Monday . Approximately 365,786 shares traded hands during trading, an increase of 3% from the previous session’s volume of 354,348 shares.The stock last traded at $40.81 and had previously closed at $42.40.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AX shares. Piper Sandler lifted their price objective on shares of Axos Financial from $48.00 to $63.00 in a research note on Friday, July 28th. Wedbush increased their price target on Axos Financial from $42.00 to $49.00 in a report on Friday, July 28th. StockNews.com began coverage on shares of Axos Financial in a research report on Wednesday, August 23rd. They set a “hold” rating on the stock. Finally, Raymond James boosted their target price on Axos Financial from $47.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $54.60.

Axos Financial Stock Down 3.4 %

The stock’s fifty day simple moving average is $43.74 and its 200-day simple moving average is $40.85. The stock has a market capitalization of $2.46 billion, a PE ratio of 8.00 and a beta of 1.49. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.27.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Thursday, July 27th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.23. Axos Financial had a net margin of 24.04% and a return on equity of 18.00%. The company had revenue of $236.46 million for the quarter, compared to the consensus estimate of $227.98 million. As a group, sell-side analysts forecast that Axos Financial, Inc. will post 5.42 EPS for the current fiscal year.

Insider Buying and Selling at Axos Financial

In related news, CEO Gregory Garrabrants sold 85,312 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $45.36, for a total value of $3,869,752.32. Following the completion of the transaction, the chief executive officer now directly owns 1,435,979 shares of the company’s stock, valued at approximately $65,136,007.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AX. Virginia Retirement Systems ET AL bought a new stake in shares of Axos Financial during the 2nd quarter worth $2,000,000. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Axos Financial by 6.0% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 16,374 shares of the company’s stock worth $646,000 after purchasing an additional 934 shares in the last quarter. Coppell Advisory Solutions LLC bought a new position in shares of Axos Financial during the 2nd quarter valued at about $46,000. Nuveen Asset Management LLC raised its holdings in shares of Axos Financial by 3.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 741,506 shares of the company’s stock valued at $29,245,000 after buying an additional 22,292 shares in the last quarter. Finally, GTS Securities LLC purchased a new position in shares of Axos Financial during the 2nd quarter valued at about $401,000. Institutional investors own 80.23% 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.