Axos Financial, Inc. - AX STOCK NEWS

Axos Financial, Inc. (NYSE: AX) reported its first fiscal quarter results for the period ended September 30, 2022. Net income was $58.4 million, down 3% from the prior year, with diluted EPS at $0.97, a 2% decrease. However, adjusted earnings rose 15% to $71.6 million, with adjusted EPS also increasing 15% to $1.18. The company experienced a strong 23.1% growth in net interest income, boosted by robust loan growth. Total assets reached $18.4 billion, and total deposits increased to $15.2 billion. Book value rose 15.6% to $28.35 per share.

Axos Financial, Inc. (NYSE: AX) will announce its financial results for the first quarter of fiscal 2023 on October 27, 2022, at 4:00 PM ET. A conference call hosted by CEO Gregory Garrabrants and CFO Derrick Walsh is scheduled for the same day at 5:00 PM ET. Axos Financial, with approximately $17.5 billion in assets, provides consumer and business banking products, securities clearing, and digital advisory services. The call will be accessible via Axos' investor website.

Axos Financial, Inc. (NYSE: AX) has been recognized as a 2022 Piper Sandler Sm-All Star, marking the seventh time since 2013 that the Company has achieved this distinction. The recognition highlights Axos' growth and profitability amidst varying economic cycles, demonstrating the robust performance of its diversified business model. Piper Sandler assessed 362 banks with a market cap under $2.5 billion, selecting 35 based on metrics including earnings per share growth and loan growth. Axos Bank currently holds approximately $17.5 billion in assets.

Axos Financial, Inc. (NYSE: AX) announced the election of Roque A. Santi as an independent director to its Board, effective August 22, 2022. Mr. Santi brings extensive expertise in accounting, strategic planning, and public board experience, previously serving in leadership roles at Roosevelt Management and Elderlife Financial Services. The Board's chairman, Paul Grinberg, expressed confidence in Mr. Santi's ability to guide Axos towards future growth. Axos Bank, the parent company, manages approximately $17.5 billion in assets.

Axos Financial, Inc. (NYSE: AX) reported strong financial results for Q4 and fiscal year 2022, with net income rising to $57.9 million, up 6.7% year-over-year, and earnings per diluted share at $0.96, also an increase of 6.7%. For the full fiscal year, net income reached a record $240.7 million, a growth of 11.6%, with earnings per share at $3.97. The net interest margin expanded to 4.19%, while loan growth hit $1 billion, enhancing deposit growth to $5 billion. The company anticipates maintaining a solid net interest margin in FY 2023.

Axos Financial, Inc. (NYSE: AX) announced a conference call on August 4, 2022, to discuss its fourth quarter fiscal results for 2022, which end on June 30, 2022. The call will take place at 5:00 PM ET following the earnings release at 4:00 PM ET. Interested parties can access the call through Axos’ website or by dialing 888-645-4404. With approximately $16.1 billion in consolidated assets and $38 billion under custody, Axos continues to serve various financial needs.

Axos Financial, Inc. (NYSE: AX) announced its participation in three upcoming investor conferences: the 22nd Annual B. Riley Securities Institutional Investor Conference on May 25-26 in Beverly Hills, the Deutsche Bank Global Financial Services Conference on May 31-June 1 in New York, and the KBW US Regional Banking Growth Conference on June 6 in London. Axos Financial is a nationwide bank with approximately $16.1 billion in consolidated assets and offers a range of banking products through low-cost channels.

Axos Bank has been recognized for the second consecutive year as America’s Best Business Checking Account Overall by WalletHub. The assessment compared over 250 small business banking options based on factors like interest rates, rewards, and fees. Axos Bank's Business Interest Checking account offers customers up to 0.81% APY and eliminates the $10 monthly fee with a minimum balance of $5,000. New small business owners are eligible for a $200 bonus by maintaining a balance of $2,500 for two months. Axos Bank has over $16 billion in assets and is part of Axos Financial (ticker: AX).

Axos Financial reported a net income of $61.8 million for Q3 2022, marking a 15.2% increase from Q3 2021. Earnings per diluted share rose 14.6% to $1.02. Adjusted earnings also showed growth, increasing 15.2% to $63.8 million for the quarter. Significant increases were noted in net interest income (up 10.2%) and non-interest income (up 20.5%). Total loans and deposits rose by 15.4% and 15.1% annualized, respectively. The return on equity was 15.89%, and non-performing loans dropped to 1.05%.