Axos Financial Inc - AX STOCK NEWS

Axos Financial (NYSE: AX) reported record fiscal year 2024 results, with net income reaching $450.0 million, a 46.5% increase from the previous year. Diluted earnings per share (EPS) rose 51.1% to $7.66. For Q4 2024, net income was $104.9 million, up 20.1% year-over-year, with diluted EPS of $1.80, a 23.3% increase. Key highlights include:

- Net interest margin expanded to 4.65% in Q4 2024
- Total deposits grew 13.1% to $19.4 billion
- Net loans increased 10.6% annualized to $19.2 billion
- Non-accrual loans to total loans improved to 57 basis points
- Book value per share increased 23.76% to $40.26

The company maintained strong credit quality and efficiency, with a 43.6% consolidated efficiency ratio and 21.6% return on average common stockholders' equity for fiscal year 2024.

Axos Financial, the holding company for Axos Bank, Axos Clearing, and Axos Invest, will announce its fourth quarter fiscal 2024 results on July 30, 2024. The results, covering the period ending June 30, 2024, will be discussed in a conference call at 5:00 PM ET. The earnings report will be distributed an hour earlier at 4:00 PM ET. Interested parties can access the live call through Axos Financial's website or dial a toll-free number. A replay will be available until August 30, 2024, both online and via telephone.

Axos Bank, the nationwide bank subsidiary of Axos Financial, Inc. (NYSE: AX), has been recognized by USA TODAY Blueprint as one of the industry's best, winning awards for Best Checking Account, Best Business Bank Account, and Best Personal Loan. The bank stands out for avoiding fees, ATM reimbursements, and serving borrowers with excellent credit. CEO Greg Garrabrants expressed pride in the bank's client-first approach and focus on modern banking.

Axos Financial, Inc. reported strong financial results for the third fiscal quarter ended March 31, 2024. Net income increased by 38.7% to $110.7 million, with diluted EPS up by 44.7% to $1.91. Adjusted earnings also saw a significant increase to $112.7 million. The company experienced growth in net interest income and non-interest income, leading to positive financial performance across various metrics. Deposit and loan balances showed substantial growth, with a strong capital position and increased book value per share.

Axos Bank, a subsidiary of Axos Financial, Inc. (NYSE: AX), has been named to the 2024 Forbes America’s Best Banks list. Forbes evaluated the top 100 out of 200 largest publicly-traded banks and thrifts based on 10 financial metrics, including stock performance, for the 2023 calendar year. Axos Financial's President and CEO, Greg Garrabrants, expressed pride in the recognition, highlighting the bank's consistent growth and financial strength.

Axos Financial, Inc. (NYSE: AX) will host a conference call to discuss their Q3 fiscal 2024 financial results. The call will feature Greg Garrabrants, President, and CEO, along with Derrick Walsh, EVP, and CFO.

Axos Financial, Inc. (NYSE: AX) announced a $100 million share repurchase program, in addition to the existing $20 million plan. The Company may repurchase shares through various methods without a set timeline.

Axos Bank, a subsidiary of Axos Financial, was recognized in Forbes Advisor's 'Best Business Checking Accounts of February 2024' for its top QuickBooks compatibility. Offering zero monthly fees, no minimum balance, and free incoming domestic wires, Axos stands out for its customer-centric approach and digital innovation.

Axos Financial, Inc. (NYSE: AX) reported a significant increase in net income and diluted earnings per share for the second fiscal quarter ended December 31, 2023. The company's net interest income, non-interest income, and total deposits also experienced substantial growth. Axos' credit quality remained resilient, and the company's total capital to risk-weighted assets increased. Additionally, the company repurchased a significant amount of common stock during the quarter.