Axos Financial (NYSE:AX) Shares Gap Down on Analyst Downgrade

Axos Financial, Inc. (NYSE:AX) gapped down prior to trading on Wednesday after Keefe, Bruyette & Woods lowered their price target on the stock from $91.00 to $90.00. The stock had previously closed at $72.40, but opened at $70.51. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Axos Financial shares last traded at $69.71, with a volume of 85,133 shares traded.

Several other equities research analysts have also commented on AX. Needham & Company LLC boosted their price objective on shares of Axos Financial from $85.00 to $88.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com upgraded shares of Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.40.

Insider Buying and Selling at Axos Financial

In related news, Director Edward James Ratinoff sold 4,002 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $79.41, for a total value of $317,798.82. Following the completion of the transaction, the director now owns 46,209 shares of the company’s stock, valued at approximately $3,669,456.69. This trade represents a 7.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total value of $10,236,250.00. Following the sale, the chief executive officer now owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. This trade represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.07% of the company’s stock.

Institutional Inflows and Outflows

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

Axos Financial Stock Performance

The company has a market cap of $3.93 billion, a P/E ratio of 8.33 and a beta of 1.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50-day moving average of $74.98 and a two-hundred day moving average of $70.32.

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

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.