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. reports news on its nationwide digital banking and securities-services businesses. The company is the holding company for Axos Bank, Axos Clearing LLC and Axos Invest, Inc., with operations organized around a Banking Business Segment and a Securities Business Segment.
Recurring updates cover fiscal results, loan and deposit trends, small business banking, digital account and payments partnerships, securities clearing and advisory services, and capital or regulatory developments affecting the bank subsidiary. News also includes Verdant Commercial Capital, a division of Axos Bank that provides equipment and software financing for business-essential assets and participates in equipment receivables securitizations.
Axos Financial, Inc. (NYSE: AX) released preliminary financial results for Q3 FY2023, revealing a 25% increase in total deposits, approximating $1.0 billion, totaling $16.7 billion as of March 31, 2023. The company reported no borrowings from the Fed’s discount window or the Bank Term Funding Program, with $5.9 billion in total borrowing availability. Cash and cash equivalents rose by $550 million to $2.5 billion. Gross loans increased by $370 million to $16.0 billion. Axos will host a conference call on April 27, 2023, to discuss financial results.
Axos Bank has launched its Insured Cash Sweep (ICS) program, providing multimillion-dollar FDIC insurance coverage for deposits exceeding the $250,000 limit. This program offers enhanced protection for both commercial and consumer banking clients, allowing coverage up to $150 million. Clients enjoy streamlined account opening through dedicated managers and a sophisticated treasury management platform. Axos Bank holds over $18.7 billion in consolidated assets and is a wholly owned subsidiary of Axos Financial (NYSE: AX).
Axos Financial, Inc. (NYSE: AX) reported a 12% annualized increase in average commercial and consumer deposits, totaling $13.7 billion as of March 12, 2023. The overall average deposits remain stable at $15 billion. The company maintains a robust deposit structure, with over 88% being FDIC insured. Its investment securities portfolio shows a minimal unrealized loss of $7 million, while credit quality remains stable across lending portfolios. CEO Gregory Garrabrants expressed optimism about continued deposit growth and the company's capacity to provide secure banking services.
Axos Bank has been recognized in GOBankingRates's Best Banks of 2023, earning top spots in categories like Best Online Banks and Best Checking Accounts. The evaluation considered over 4,300 data points from more than 170 banks and credit unions. Axos Bank is praised for its no-fee accounts, including the Rewards Checking account and Essential Checking, which offer a user-friendly experience. The bank holds over $18.7 billion in consolidated assets and is a wholly owned unit of Axos Financial, listed under the stock symbol AX.
Axos Financial reported strong fiscal second quarter results ending December 31, 2022, with a net income of $81.6 million, up 34% from $60.8 million in Q2 2021. Diluted earnings per share rose to $1.35, a 35% increase from $1.00. Adjusted earnings reached $83.4 million, with adjusted EPS at $1.38, marking a 33% increase. Net interest income was $199.9 million, up 37.3% year-over-year, bolstered by loan growth and rising interest rates. Total assets increased to $18.7 billion, while non-performing loans decreased to 0.61%. A conference call is scheduled for January 26, 2023.
Axos Financial, Inc. (NYSE: AX) will release its second quarter fiscal 2023 earnings results on January 26, 2023, after 4:00 PM ET. A conference call to discuss these results will follow at 5:00 PM ET. The company, parent of Axos Bank, currently holds approximately $18.4 billion in assets and offers banking products through various low-cost distribution channels. Its subsidiaries also provide securities clearing services and digital investment advisory.
Axos Invest has launched FundFinder+, a free tool that provides self-directed investors with access to extensive database insights on mutual funds and ETFs, previously available only to financial advisors.
Featuring integration with LOGICLY for enhanced analytics, FundFinder+ allows investors to research fund options tailored to their specific goals. The tool consolidates information from leading asset management firms, promoting transparency and informed investing. Axos Invest aims to empower individual investors with innovative tools and resources to enhance portfolio management.
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.