Axos Financial, Inc. (NYSE:AX) Expected to Earn FY2024 Earnings of $6.79 Per Share

Axos Financial, Inc. (NYSE:AX) – Analysts at Wedbush raised their FY2024 earnings per share (EPS) estimates for shares of Axos Financial in a research note issued on Thursday, May 2nd. Wedbush analyst D. Chiaverini now expects that the company will post earnings per share of $6.79 for the year, up from their previous forecast of $6.64. Wedbush currently has a “Neutral” rating and a $60.00 target price on the stock. The consensus estimate for Axos Financial’s current full-year earnings is $6.76 per share. Wedbush also issued estimates for Axos Financial’s Q4 2024 earnings at $1.84 EPS and Q1 2025 earnings at $1.85 EPS.

Several other equities research analysts also recently weighed in on AX. StockNews.com upgraded Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Raymond James raised their price target on shares of Axos Financial from $45.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 31st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $79.00 price objective (up from $77.00) on shares of Axos Financial in a research report on Thursday, May 2nd. Finally, Piper Sandler raised their target price on shares of Axos Financial from $65.00 to $68.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.25.

Axos Financial Price Performance

NYSE:AX opened at $59.68 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50 day simple moving average of $51.74 and a 200-day simple moving average of $49.15. Axos Financial has a 1 year low of $32.05 and a 1 year high of $60.23. The firm has a market capitalization of $3.40 billion, a price-to-earnings ratio of 8.10 and a beta of 1.42.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.21. The business had revenue of $476.73 million during the quarter, compared to analyst estimates of $277.85 million. Axos Financial had a return on equity of 18.57% and a net margin of 24.39%. During the same period last year, the company earned $1.35 EPS.

Institutional Investors Weigh In On Axos Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Qube Research & Technologies Ltd boosted its stake in Axos Financial by 80.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 142,646 shares of the company’s stock worth $5,401,000 after purchasing an additional 63,523 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Axos Financial by 9.7% during the third quarter. Loomis Sayles & Co. L P now owns 642,062 shares of the company’s stock valued at $24,308,000 after buying an additional 56,634 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Axos Financial in the 4th quarter valued at $260,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Axos Financial in the 3rd quarter worth $1,225,000. Finally, Federated Hermes Inc. lifted its position in Axos Financial by 960,400.0% during the 3rd quarter. Federated Hermes Inc. now owns 48,025 shares of the company’s stock worth $1,818,000 after acquiring an additional 48,020 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Activity at Axos Financial

In other Axos Financial news, Director Sara Wardell-Smith purchased 5,000 shares of the stock in a transaction dated Friday, March 15th. The stock was purchased at an average price of $49.75 per share, with a total value of $248,750.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at $248,750. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Sara Wardell-Smith acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was purchased at an average cost of $49.75 per share, for a total transaction of $248,750.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $248,750. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Andrew J. Micheletti sold 2,500 shares of Axos Financial stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $52.89, for a total value of $132,225.00. Following the completion of the transaction, the executive vice president now owns 422,583 shares in the company, valued at approximately $22,350,414.87. The disclosure for this sale can be found here. 4.82% of the stock is currently owned by corporate insiders.

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.