Loan and Asset Management - Axos reported a loan balance of $19.803 billion in Q4 FY24, an increase of $486 million from Q3 FY24[2] - The company completed a purchase of $1.25 billion in loans from the FDIC at a 37% discount, with a total unpaid principal balance of $1.231 billion across various loan types[4] - The weighted average yield on total loans was 6.9%, with a weighted average loan-to-value (LTV) ratio of 58.8%[4] - The allowance for credit losses (ACL) stood at $261 million, representing 1.3% of total loans[14] - Non-accrual loans totaled $113 million, accounting for 0.57% of total loans outstanding[16] - The company reported a significant increase in asset-based and cash flow lending, with a growth of $180 million to $1.797 billion[3] - Multifamily loans accounted for a balance of $2.541 billion, down $122 million from the previous quarter[3] Deposits and Equity - Approximately 90% of deposits are FDIC-insured or collateralized, with total deposit balances reaching $19.803 billion as of June 30, 2024[11] - Total deposits rose to $19,359,217 thousand, compared to $19,103,532 thousand in the prior quarter, marking an increase of 1.33%[20] - Total stockholders' equity improved to $2,290,596 thousand, up from $2,196,293 thousand, indicating a growth of 4.29%[20] - The equity to assets ratio at the end of the period was 10.02%, up from 9.70% in the previous quarter[20] - Common equity tier 1 capital to risk-weighted assets increased to 12.01%, compared to 11.47% in the prior quarter[20] - Tier 1 leverage ratio to adjusted average assets was 9.43%, slightly up from 9.33% in the previous quarter[20] - Net capital as a percentage of aggregate debit items was 42.21%, an increase from 38.73% in the prior quarter[20] Income and Earnings - Net income for June 30, 2024, was $104,872,000, a decrease from $110,720,000 in the previous quarter[22] - Adjusted earnings for June 30, 2024, were $106,727,000, compared to $112,655,000 in the previous quarter[25] - Basic earnings per share (EPS) for June 30, 2024, was $1.84, down from $1.94 in the previous quarter[22] - Diluted EPS for June 30, 2024, was $1.80, compared to $1.91 in the previous quarter[22] - Non-interest income for June 30, 2024, was $30,861,000, down from $33,163,000 in the previous quarter[22] - Return on average assets for June 30, 2024, was 1.81%, a decrease from 1.98% in the previous quarter[22] - Return on average common stockholders' equity for June 30, 2024, was 18.81%, down from 20.71% in the previous quarter[22] Shareholder Value - Book value per common share increased to $40.26 as of June 30, 2024, from $38.48 in the previous quarter[22] - Tangible book value per common share increased to $37.26 as of June 30, 2024, from $35.46 in the previous quarter[22] - Tangible common stockholders' equity increased to $2,119,903 thousand as of June 30, 2024, up from $2,023,839 thousand in March 2024, representing a growth of 4.76%[27] - Book value per common share rose to $40.26 in June 2024, compared to $38.48 in March 2024, reflecting an increase of 4.63%[27] - Tangible book value per common share reached $37.26 in June 2024, up from $35.46 in March 2024, indicating a growth of 5.06%[27] - Common shares outstanding decreased to 56,894,565 as of June 30, 2024, from 57,079,429 in March 2024, a decline of 0.33%[27] - Goodwill and intangible assets decreased to $141,769 thousand in June 2024, down from $144,324 thousand in March 2024, a reduction of 3.54%[27] Asset Growth - Total assets increased to $22,855,334 thousand as of June 30, 2024, up from $22,642,133 thousand in March 31, 2024, representing a growth of 0.94%[20] - Net loans reached $19,231,385 thousand, an increase from $18,733,455 thousand in the previous quarter, reflecting a growth of 2.66%[20] - Customer, broker-dealer and clearing receivables decreased to $240,028 thousand from $292,630 thousand, a decline of 17.93%[20] - Securities—available-for-sale decreased to $141,611 thousand from $207,582 thousand, a decline of 31.87%[20] Strategic Focus - The company serves approximately 40% of U.S. Chapter 7 bankruptcy trustees, indicating a strong position in the bankruptcy servicing market[11] - Axos is focused on geographic expansion and enhancing team capabilities to improve its treasury and cash management services[11]

The market expects Axos Financial (AX) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released ...

Axos Financial (AX) shares ended the last trading session 7.7% higher at $70.81. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 23.2% gain over the past four weeks.Shares of Axos Financial rallied for the six straight trading session and hit a 52-week high of $71.95. Encouraging inflation numbers and cooling employment data have increased the chances of the Federal Reserve cutting the interest rates as early as du ...

SAN FRANCISCO, June 24, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Axos Financial, Inc. (NYSE: AX) investors who suffered substantial losses to submit your losses now. Visit: www.hbsslaw.com/investor-fraud/ax Contact the Firm Now: AX@hbsslaw.com | 844-916-0895 Axos Financial Inc. (AX) finds itself in the crosshairs of short seller Hindenburg Research, which alleges risky lending practices and potential misrepresentation of the bank’s loan portfolio. Hindenburg, known for its forensic financial research an ...

NEW YORK, June 17, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Axos Financial, Inc. (NYSE: AX) resulting from allegations that Axos Financial may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Axos Financial securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee a ...

SAN FRANCISCO, June 17, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Axos Financial, Inc. (NYSE: AX) investors who suffered substantial losses to submit your losses now. Visit: www.hbsslaw.com/investor-fraud/ax Contact the Firm Now: AX@hbsslaw.com                                          844-916-0895 Axos Financial Faces Allegations of Concealing Risks and Unconventional Lending Practices In a recent investigation, activist short seller Hindenburg Research has turned its attention to Axos Financial, Inc. (N ...

NEW YORK, June 12, 2024 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a preeminent national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in  Axos Financial, Inc. (NYSE: AX) ("Axos" or "the Company"). The focus of the investigation is to whether the Company issued false and/or misleading statements and/or did not disclose information pertinent to investors. PLEASE CLICK HERE TO PROVIDE YOUR CONTACT INFORMATION On June 4 ...

NEW YORK, June 10, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Axos Financial, Inc. (NYSE: AX) resulting from allegations that Axos Financial may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Axos Financial securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency ...

NEW YORK, June 8, 2024 /PRNewswire/ --WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Axos Financial, Inc. (NYSE: AX) resulting from allegations that Axos Financial may have issued materially misleading business information to the investing public.SO WHAT: If you purchased Axos Financial securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arra ...

NEW YORK, June 07, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Axos Financial, Inc. (NYSE: AX) resulting from allegations that Axos Financial may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Axos Financial securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency ...