DA Davidson Reiterates Buy Rating on Axos Financial (AX)

Axos Financial, Inc. (NYSE:AX) is one of the 11 Best American Bank Stocks to Buy According to Wall Street Analysts. On March 9, DA Davidson reaffirmed its Buy rating on Axos Financial, Inc. (NYSE:AX) with a price target of $112 on the stock.

DA Davidson noted that the company is an internet-based bank with a mix of business lines, including commercial lending, mass market and specialty deposits, and an expanding securities segment. The research firm pointed out that Axos Financial, Inc.’s (NYSE:AX) branchless structure helps it stay nimble and profitable.

According to DA Davidson, this model gives the company a cost advantage over other institutions, helping Axos Financial, Inc. (NYSE:AX) to offer higher rates to deposit customers. The company has also built streamlined processes within its operations and continues to work on its in-house digital platform to improve integration across business lines.

The research firm also noted that Axos Financial, Inc. (NYSE:AX) is not held back by legacy structures in most of its business areas. DA Davidson pointed to the company’s forward-thinking management as a factor that supports its long-term outlook.

Axos Financial, Inc. (NYSE:AX) is an American bank holding company for Axos Bank, Axos Clearing LLC, and Axos Invest, Inc. It provides a comprehensive suite of digital-first consumer and commercial banking, securities clearing, and investment services.

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