Axos Financial, Inc. (AX) Stock Price & How to Invest

Axos Financial is the holding company for Axos Bank, a US digital-first (branchless) bank founded in 2000 that gathers consumer and business deposits online and deploys them into selected lending niches including commercial real estate, multifamily, single-family mortgage, and asset-based commercial loans. Beyond spread lending it runs fee-generating securities businesses (clearing, custody, and an adviser platform via Axos Securities and its Verdant and Advisor Services operations), plus treasury and cash-management services, so it is more diversified than a pure online savings bank. The branchless model lets it operate at a lower cost structure than branch-heavy regional peers while sustaining a net interest margin near 4.5 to 4.8 percent, well above the typical bank.

The investment picture is a fast-growing, highly profitable bank trading at a discount to what its returns would normally command. Fiscal third quarter 2026 (quarter ended March 2026) net income was ~$124.7 million (up ~18 percent year over year) on ~$392 million of revenue, with total assets reaching ~$29.3 billion. The fiscal fourth quarter (ended June 2026) kept the pace: revenue of about $380 million rose roughly 23 percent year over year and beat estimates by about 1 percent, and adjusted EPS of $2.53 topped the $2.16 consensus. Over the trailing twelve months Axos earned about $490 million. The shares still fell about 11 percent after that report and closed at $88.44 on October 16, 2026, about 16 percent below their 52-week high of roughly $106. That growth and a mid-teens-plus return on equity would usually earn a premium multiple, but AX trades at about 10x trailing earnings and roughly 1.6x book value because roughly half its loan book is commercial real estate, a concentration that drew a 2024 short-seller report and keeps a credit-risk discount on the stock.

Concentration is the central risk: roughly half of the loan book is tied to commercial real estate, versus a mid-teens-percent average at regional-bank peers, so a downturn in CRE values or occupancy could drive outsized credit losses. A June 2024 Hindenburg Research short report alleged lax underwriting and loan evergreening in the CRE book (the bank disputed the claims and the stock later recovered), but the episode illustrates the market's sensitivity to credit-quality questions here. As a spread lender, Axos is exposed to interest-rate swings that can compress its net interest margin, which stepped down quarter over quarter in early 2026. Deposit competition from larger online banks and any deterioration in the specialty-lending niches it favors could pressure both funding costs and asset yields. Being a mid-cap bank, the stock can be volatile (it fell about 11 percent in the weeks after a fiscal Q4 2026 beat) around earnings, credit-cycle headlines, and short-seller commentary.

7 analysts publish price targets on AX, averaging $117.71 against a $88.14 price as of October 2026, or +33.5%. The published targets run from $110.00 to $128.00, a narrow spread, and the ratings split 6 buy, 1 hold, 0 sell. Over the last six months there have been 3 raises and 0 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full AX forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Axos Financial, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Low-cost branchless deposit gathering. Axos raises deposits nationally online without the fixed cost of a physical branch network, which supports a structurally lower efficiency ratio than branch-based peers. The most optimistic published target, $128.00, assumes this works close to its best case.

The case against. Concentration is the central risk: roughly half of the loan book is tied to commercial real estate, versus a mid-teens-percent average at regional-bank peers, so a downturn in CRE values or occupancy could drive outsized credit losses. The most pessimistic target, $110.00, is roughly what AX is worth if this bites instead.

Read the full bull and bear case on AX, including what would have to change to break either one. Walnut is not an investment adviser.

No. Axos Financial, Inc. (AX) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Axos Financial, Inc.'s investor relations page or your broker.

• Market cap: ~$5.0B
• Revenue (TTM): ~$1.4B
• Net income (TTM): ~$490M
• Fiscal Q4 2026 adjusted EPS: ~$2.53 (vs ~$2.16 consensus)
• P/E (trailing / forward): ~10.4x / ~8.2x
• Price / book: ~1.6x
• Dividend: None

As of October 2026 AX trades at about 10x trailing and 8x forward earnings and roughly 1.6x book value, cheaper than its growth and mid-teens-plus return on equity would typically warrant. The discount reflects the market's caution about its commercial real estate concentration rather than weak fundamentals. The average analyst target of about $118 (seven analysts, a consensus Strong Buy) sits well above the $88.44 share price, and consensus for the September 2026 quarter, reported October 29, is about $2.26 of EPS on roughly $387 million of revenue.

Other names that sit close to AX: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get AX exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so AX sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where AX fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

AX offers bank-beating profitability and growth at a modest valuation, with the trade-off being an outsized commercial real estate concentration that keeps a credit-risk discount attached to the shares. Its fiscal fourth quarter (ended June 2026) beat estimates, yet the stock slipped about 11% after the report, so the fiscal Q1 2027 release on October 29, 2026 is the next test.

Whether AX is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is AX a buy or a sell?, and where the stock could go from here in the AX stock forecast.

For income investors, whether AX pays a dividend and how the payout looks is covered in does AX pay a dividend? And to weigh AX against a peer, read the full side-by-side comparisons: AX vs ALLY and AX vs SOFI.