Welcome to our dedicated page for Axos Financial news (Ticker: AX), a resource for investors and traders seeking the latest updates and insights on Axos Financial stock.
Axos Financial, Inc. (symbol: AX) is a prominent player in the U.S. banking sector, known for offering a diverse range of consumer and business banking products. Operating through its key subsidiary, BofI Federal Bank, Axos Financial extends its services across various domains, including single-family and multifamily mortgage lending, commercial real estate loans, automobile and RV loans, and unsecured consumer loans. The company also provides commercial lending, specialty finance factoring, and overdraft lines of credit.
Axos Financial's product portfolio includes a variety of deposit products such as consumer and business checking accounts, savings accounts, time deposits, and money market accounts. Additionally, Axos offers an array of financial services like prepaid and refund transfer cards, debit and ATM cards, online bill payment, money transfers, overdraft protection, and comprehensive digital banking services including online and mobile banking, and text message banking.
With a significant portion of its mortgage exposure concentrated in California, Axos Financial targets small to medium-size businesses in specific sectors, leveraging its extensive retail distribution channels. These include online banking brands, affinity groups, and dedicated sales teams.
Axos Financial's revenue model relies heavily on net interest income, reflecting its robust lending activities. The company continually seeks to innovate and expand its service offerings, ensuring a steady growth trajectory and maintaining its competitive edge in the financial sector. The latest news and updates about Axos Financial, Inc. are essential for stakeholders to stay informed about the company's performance, current projects, and strategic developments.
Axos Financial, Inc. (NYSE: AX) announced a conference call on April 29, 2021, at 5:00 PM ET to discuss its financial results for Q3 of fiscal 2021, ending March 31, 2021. The company, led by CEO Gregory Garrabrants and CFO Andrew J. Micheletti, will release earnings results earlier on the same day after 4:00 PM ET. The call can be accessed via Axos Financial’s website or by dialing a toll-free number. Axos Financial is a holding company for Axos Bank, which has approximately $14.4 billion in assets, and is part of key financial indices like Russell 2000®.
Axos Financial, Inc. (NYSE: AX) announced the redemption of all 6.25% Subordinated Notes due February 28, 2026, totaling $51 million. The redemption occurred on March 31, 2021, funded primarily by $175 million from newly issued 4.875% Fixed-to-Floating Rate Subordinated Notes due 2030. This move is expected to reduce annual interest expenses by approximately $3.2 million. Following the redemption, the 2026 Notes will no longer trade on the NYSE.
N26 has announced an expansion of its Perks rewards program through a partnership with Dosh®, enabling customers to earn cash back on purchases made with their N26 debit card. Automatic enrollment means customers can receive cash back in categories such as groceries and restaurants without needing to activate offers. This program aims to provide financial relief to customers impacted by the pandemic. Additionally, N26 has introduced new savings features allowing automatic payments to personalized sub-accounts, enhancing financial goal management.
Axos Financial, Inc. (NYSE: AX) announced the redemption of all its 6.25% Fixed-to-Floating Rate Subordinated Notes, amounting to $51 million, on March 31, 2021. The notes will be redeemed at 100% of their principal value plus any accrued interest. Following the redemption, these notes will cease trading on the New York Stock Exchange. Axos Financial is the parent company of Axos Bank, which provides various banking products and services and has approximately $14.4 billion in assets.
Axos Financial reported second quarter fiscal 2021 results with net income of $54.8 million, a 32.7% increase from the previous year. Diluted EPS rose to $0.91, up 35.8%. Adjusted earnings also increased to $56.6 million, or $0.94 per share. The growth was driven by a 23.7% rise in net interest income to $134.1 million and 35.4% growth in non-interest income. Total assets grew to $14.4 billion, up 17.3%, while the loan and lease portfolio increased by 14.5%.
Axos Financial, Inc. (NYSE: AX) will host a conference call on January 28, 2021, at 5:00 PM ET to discuss its Q2 fiscal 2021 financial results. Earnings results will be published on the same day after 4:00 PM ET. CEO Gregory Garrabrants and CFO Andrew J. Micheletti will lead the call. Interested parties can access it via Axos Financial's website or by dialing 877-407-8293. A replay will be available until February 28, 2021. Axos Bank has over $13 billion in assets and offers various banking and investment products.
N26, a mobile banking platform, has launched its U.S. marketing campaign titled "Money In Motion" featuring comedian Jimmy O. Yang. The campaign is designed to make banking stress-free and empowering, showcasing N26's features that help users manage their finances. With three videos released across digital and social platforms, the campaign aims to target Millennial and Gen-Z audiences through a partnership with ViacomCBS' Velocity. N26 operates in the U.S. through N26 Inc. in partnership with Axos Bank, boasting over 5 million customers globally and significant funding of approximately $800 million.
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