Axos Financial Inc Stock Price, News & Analysis

Axos Bank has received accolades as one of America’s Best Online Banks for the fourth consecutive year from MyBankTracker.com. The platform praised Axos for its low fees and high-interest rates across its banking products. Additionally, the Rewards Checking and High-Yield Savings accounts were highlighted as top offerings. Following this, Axos Financial was recognized as one of the 10 Most Innovative Banks by Bank Director, emphasizing its advanced mobile app features. Axos Bank manages nearly $15 billion in assets, reflecting strong financial health.

Axos Bank has been recognized as “Best Overall” in Money's top online banks list for 2021-2022. The accolade highlights its low fees, low opening balance requirements, and high interest rates on savings and checking accounts. Money praised the Axos mobile app, which allows customers to manage banking, borrowing, and investing in one place. Axos Bank Rewards Checking accounts offer up to 1.00% APY, subject to certain conditions. Axos Bank, with nearly $15 billion in assets, is a wholly owned subsidiary of Axos Financial, trading under the NYSE symbol 'AX'.

Axos Invest, part of Axos Financial (NYSE: AX), has announced a $100 cash bonus for new customers opening accounts on its Self-Directed Trading platform. The offer is available to those who fund their accounts with at least $2,500 by Dec. 31, 2021. The platform features commission-free trades on eligible stocks, ETFs, and no-load mutual funds. Designed to facilitate low- to no-fee investing, Axos Invest aims to help clients reach their wealth goals.

Axos Financial, Inc. (NYSE: AX) reported a 13.6% increase in net income for Q1 FY2022, reaching $60.2 million or $0.99 per diluted share, up from $53.0 million in Q1 FY2021. Adjusted earnings also grew by 13.5% to $62.2 million, while adjusted EPS rose 13.2% to $1.03. Net interest income increased 15.2% to $146.6 million, driven by loan growth of 16.3%. However, non-interest income dropped 25.5% to $26.7 million, primarily due to lower mortgage banking revenue. Total assets increased to $14.9 billion.

Axos Bank has announced a recurring quarterly donation of $15,000 to the San Diego Rescue Mission, aiming to support meals and shelter for the homeless in San Diego. This initiative reflects Axos's commitment to improving communities by addressing homelessness through sustainable recovery programs. With San Diego ranking fourth in the U.S. for homelessness, the San Diego Rescue Mission has been active since 1954, focusing on long-term solutions for individuals facing homelessness.

Axos Financial, Inc. (NYSE: AX) will announce its financial results for Q1 FY2022 on October 28, 2021, after 4:00 PM ET. A conference call is scheduled for the same day at 5:00 PM ET, featuring CEO Gregory Garrabrants and CFO Derrick Walsh.

Axos Bank, the primary subsidiary, holds around $14.3 billion in assets. Additional services are provided through Axos Clearing LLC and Axos Invest, Inc., catering to a variety of market needs.

Axos Financial, Inc. (NYSE: AX) announced the appointment of Derrick K. Walsh as Executive Vice President and Chief Financial Officer, effective September 23, 2021. Walsh, who joined Axos in 2013, previously served as Senior Vice President and Chief Accounting Officer. He succeeds Andrew J. Micheletti, who will transition to Executive Vice President, Finance. The change aims to ensure seamless leadership continuity as the company focuses on strategic growth and investor relations, with both the outgoing and incoming executives highlighting their collaborative history.

Axos Financial, Inc. (NYSE: AX) announced the election of Stefani Carter as an independent director, effective August 31, 2021. Carter brings a wealth of experience in legal, corporate governance, and public company board service. Chairman Paul Grinberg expressed confidence that her insights will benefit the company's growth. Carter, an attorney since 2005, has held various legal roles and has served in the Texas House of Representatives. Axos Financial continues its transformation from a consumer-focused bank to a diversified financial services entity.

Axos Financial, Inc. (NYSE: AX) has successfully completed its acquisition of E*TRADE Advisor Services (EAS), enhancing its investment advisory services. EAS, now rebranded as Axos Advisor Services, holds approximately $24.8 billion in assets under custody. The transition to a broker-dealer platform was achieved within four months, signaling quick integration. CEO Gregory Garrabrants highlighted the strategic importance of this deal, emphasizing growth opportunities in serving independent RIAs. The acquisition is expected to significantly boost Axos' banking and securities service offerings.