Overview

* Axos Financial ( AX ) fiscal Q1 adjusted EPS beats estimates

* Adjusted net income for fiscal Q1 exceeds analysts' expectations

* Company's non-interest income rises 13% yr/yr, aided by higher banking and service fees

Outlook

* Company did not provide specific guidance for future periods

Result Drivers

* VERDANT ACQUISITION - Acquisition of Verdant Commercial Capital added $1 bln in loans and leases, boosting net loan growth

* ORGANIC LOAN GROWTH - Organic net loan growth contributed $565 mln to total loan increase

* NON-INTEREST INCOME INCREASE - Non-interest income rose 13% yr/yr, driven by higher banking and service fees and mortgage banking

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q1 Beat $2.07 $1.94 (6

Adjusted Analysts

EPS )

Q1 EPS $1.94

Q1 Beat $120.38 $111.40

Adjusted mln mln (6

Net Analysts

Income )

Q1 Net $112.35

Income mln

Q1 Net $291.05

Interest mln

Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Axos Financial Inc ( AX ) is $105.00, about 25% above its October 29 closing price of $78.77

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)