Overview
Axos Financial fiscal Q1 adjusted EPS beats estimates
Adjusted net income for fiscal Q1 exceeds analysts' expectations
Company's non-interest income rises 13% yr/yr, aided by higher banking and service fees
Outlook
Company did not provide specific guidance for future periods
Result Drivers
VERDANT ACQUISITION - Acquisition of Verdant Commercial Capital added $1 bln in loans and leases, boosting net loan growth
ORGANIC LOAN GROWTH - Organic net loan growth contributed $565 mln to total loan increase
NON-INTEREST INCOME INCREASE - Non-interest income rose 13% yr/yr, driven by higher banking and service fees and mortgage banking
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Adjusted EPS | Beat | $2.07 | $1.94 (6 Analysts) |
Q1 EPS | $1.94 | ||
Q1 Adjusted Net Income | Beat | $120.38 mln | $111.40 mln (6 Analysts) |
Q1 Net Income | $112.35 mln | ||
Q1 Net Interest Income | $291.05 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for Axos Financial Inc is $105.00, about 25% above its October 29 closing price of $78.77
Press Release: ID:nBw5bFL9ha
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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