Analytical market review: Axos Financial, Inc. (NYSE: AX)

On Friday, Axos Financial, Inc. stock identified change of 18.67% away from 52-week low price and recently located move of -14.86% off 52-week high price. AX stock has been recorded -2.84% away from 50 day moving average and 0.45% away from 200 day moving average. Moving closer, we can see that shares have been trading -1.68% off 20-day moving average.

Axos Financial, Inc. (AX) recently reported financial results for the second fiscal quarter ended December 31, 2019. Net income was $41.3M, a raise of 6.3% from $38.8M for the quarter ended December 31, 2018. Earnings attributable to Axos’ ordinary stockholders were $41.2M or $0.67 per diluted share for the second quarter of fiscal 2020, a raise of 6.3% from $38.8M or $0.62 per diluted share for the second quarter ended December 31, 2018.

Adjusted earnings and adjusted earnings per diluted ordinary share (“adjusted EPS”), non-GAAP measures, which excludes non-cash amortization expenses and non-recurring costs related to mergers and acquisitions, and other non-recurring costs increased 8.4% to $42.9M and increased 9.5% to $0.69, respectively, for the quarter ended December 31, 2019 contrast to $39.6M and $0.63, respectively, for the quarter ended December 31, 2018.

For the six months ended December 31, 2019, net income was $82.1M, a raise of 8.5% over net income of $75.7M for the six months ended December 31, 2018. Earnings attributable to Axos’ ordinary stockholders were $81.9M or $1.32 per diluted share for the six months ended December 31, 2019, a raise of 10.0% from $75.5M or $1.20 per diluted share for the six months ended December 31, 2018. Higher earnings for the fiscal second quarter and for the six months ended December 31, 2019 were primarily the result of growth in the Bank’s loan and lease portfolio.

“We achieved net income of $41.3M this quarter as a result of strong loan growth and stable net interest margins,” stated Greg Garrabrants, President and Chief Executive Officer of Axos. “Ending loan balances increased 14.6% annualized from September 30, 2019, led by strong growth in commercial specialty real estate, commercial lender finance, mortgage warehouse and equipment leasing. Net interest margin increased 10 basis points linked quarter to 3.87% as a result of steady loan yields and a decline in our funding costs. The diversity of our lending, deposit and fee income businesses position us well in a variety of competitive and interest rate environments.”

“We continue to make investments across each of our consumer, commercial and securities businesses while maintaining a relatively stable efficiency ratio,” stated Andy Micheletti, Executive Vice President and Chief Financial Officer of Axos. “Our banking business efficiency ratio was 43.81% this quarter, relatively flat contrast to 43.93% in the quarter ended September 30, 2019.”

The Financial sector company, Axos Financial, Inc. noticed change of -0.90% to $28.54 along volume of 233971 shares in recent session compared to an average volume of 271.52K. AX’s shares are at -4.80% for the quarter and driving a -13.85% return over the course of the past year and is now at -5.75% since this point in 2018.   The average volatility for the week at 2.51% and for month was at 2.48%. There are 61.92M shares outstanding and 53.36M shares are floated in market.

 

Marla Brooks

Marla Brooks – Financial Analysis My name is Marla Brooks, and I am the mainstream behind the”observednews.com”  for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.

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