Axos Financial (NYSE:AX) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Axos Financial (NYSE:AX) from a hold rating to a sell rating in a research note released on Monday, Zacks.com reports.

According to Zacks, “Axos Financial Inc. is the holding company for BofI Federal Bank, which provides financing for single and multifamily residential properties, small-to-medium size businesses in target sectors and selected specialty finance receivables. BofI Federal Bank provides consumer and business banking products. Axos Financial Inc., formerly known as BofI Holding Inc., is based in San Diego, California. “

AX has been the topic of several other research reports. ValuEngine lowered shares of Axos Financial from a hold rating to a sell rating in a research report on Tuesday, March 5th. Compass Point lowered shares of Axos Financial from a buy rating to a neutral rating and set a $35.00 price objective on the stock. in a research report on Wednesday, May 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $40.60.

AX opened at $28.42 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.13 and a current ratio of 1.13. Axos Financial has a fifty-two week low of $23.87 and a fifty-two week high of $43.89. The stock has a market cap of $1.73 billion, a P/E ratio of 10.63, a PEG ratio of 1.03 and a beta of 1.02.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.11). The firm had revenue of $155.27 million for the quarter, compared to the consensus estimate of $158.20 million. Axos Financial had a net margin of 24.48% and a return on equity of 16.76%. Axos Financial’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts predict that Axos Financial will post 2.75 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY purchased a new position in shares of Axos Financial in the first quarter worth about $554,000. FMR LLC purchased a new position in Axos Financial during the first quarter valued at approximately $1,387,000. CWM Advisors LLC purchased a new position in Axos Financial during the first quarter valued at approximately $201,000. Ladenburg Thalmann Financial Services Inc. purchased a new position in Axos Financial during the first quarter valued at approximately $359,000. Finally, Morgan Stanley purchased a new position in Axos Financial during the first quarter valued at approximately $2,595,000. 72.65% of the stock is currently owned by institutional investors and hedge funds.

Axos Financial Company Profile

Axos Financial, Inc operates as the holding company for BofI Federal Bank that provides consumer and business banking products in the United States. The company offers deposits products, including consumer and business checking, demand, savings, and time deposit accounts. It also provides single family and multifamily mortgage secured lending products; commercial real estate secured and commercial lending products; specialty finance factoring products; prime loans to customers secured by new and used automobiles; and term unsecured personal loans to individual borrowers, as well as overdraft lines of credit.

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Analyst Recommendations for Axos Financial (NYSE:AX)

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