AX Stock Summary and Trading Ideas (Axos Financial | NYSE:AX)

Axos Financial Inc is a bank holding company that operates through its bank subsidiary, BofI Federal Bank, a nationwide bank that provides financing for single and multifamily residential properties, small to medium-size businesses in certain sectors, and selected specialty finance receivables. Its operating segments are banking and securities business. The bank distributed its products through a wide range of retail distribution channels, including only banking brands, affinity groups, and sales teams, among others. The majority of the bank's mortgage exposure is titled toward the state of California, particularly its southern region. Net interest income is a majority of the bank's revenue.

Axos Financial trades on the NYSE stock market under the symbol AX.

As of April 23, 2024, AX stock price climbed to $52.03 with 84,260 million shares trading.

AX has a beta of 1.97, meaning it tends to be more sensitive to market movements. AX has a correlation of 0.29 to the broad based SPY ETF.

AX has a market cap of $3.00 billion. This is considered a Mid Cap stock.

Last quarter Axos Financial reported $353 million in Revenue and $1.60 earnings per share. This beat revenue expectation by $105 million and exceeded earnings estimates by $.22.

In the last 3 years, AX stock traded as high as $62.44 and as low as $32.05.

The top ETF exchange traded funds that AX belongs to (by Net Assets): IJR, VTI, VB, IWM, VBR.

AX has outperformed the market in the last year with a price return of +38.0% while the SPY ETF gained +24.0%. However, in the short term, AX had mixed performance relative to the market. It has underperformed in the last 3 months, returning -6.2% vs +4.7% return in SPY. But in the last 2 weeks, AX shares have fared better than the market returning +1.0% compared to SPY -2.7%.

AX support price is $50.46 and resistance is $52.56 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AX stock will trade within this expected range on the day.