Axos Financial 'Ahead of Its Time,' Analyst Applauds Digital-First Strategy

Needham analyst Kyle Peterson initiated coverage on Axos Financial, Inc. AX with a Buy rating and a price target of $82.00.The analyst writes that, unlike traditional banks, the company avoids a broad branch strategy, enhancing profitability and efficiency while expanding its total addressable market.Importantly, Axos Financial holds a full banking license, which offers stickier and cheaper funding for loans compared to warehouse lines and enables in-house banking products, adds the analyst.The analyst says ...