Royce & Associates LP Boosts Holdings in Axos Financial, Inc $AX

Royce & Associates LP raised its holdings in Axos Financial, Inc (NYSE:AX) by 8.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 109,507 shares of the company’s stock after acquiring an additional 8,964 shares during the period. Royce & Associates LP’s holdings in Axos Financial were worth $9,435,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in Axos Financial by 59.6% during the third quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock worth $29,000 after acquiring an additional 130 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Axos Financial during the 3rd quarter worth about $29,000. EverSource Wealth Advisors LLC grew its holdings in shares of Axos Financial by 294.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after purchasing an additional 333 shares during the period. Torren Management LLC purchased a new stake in shares of Axos Financial during the 4th quarter worth about $36,000. Finally, Salomon & Ludwin LLC grew its holdings in shares of Axos Financial by 43.2% during the 4th quarter. Salomon & Ludwin LLC now owns 441 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $110.00 target price on shares of Axos Financial in a report on Monday, March 16th. Keefe, Bruyette & Woods boosted their target price on Axos Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. Zacks Research cut Axos Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Jefferies Financial Group boosted their target price on Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Weiss Ratings cut Axos Financial from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Axos Financial presently has a consensus rating of “Moderate Buy” and an average target price of $109.40.

Axos Financial Stock Performance

Axos Financial stock opened at $87.05 on Friday. The stock’s 50 day moving average price is $88.87 and its 200 day moving average price is $88.91. The firm has a market capitalization of $4.95 billion, a PE ratio of 10.58 and a beta of 1.30. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.15 and a current ratio of 1.15. Axos Financial, Inc has a one year low of $67.89 and a one year high of $101.92.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.23). The company had revenue of $392.25 million for the quarter, compared to analyst estimates of $372.51 million. Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.During the same period last year, the firm posted $1.81 earnings per share. As a group, sell-side analysts expect that Axos Financial, Inc will post 8.57 EPS for the current fiscal year.

Insider Activity at Axos Financial

In related news, EVP Michael James Watson sold 1,653 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total transaction of $138,471.81. Following the transaction, the executive vice president directly owned 4,592 shares of the company’s stock, valued at approximately $384,671.84. The trade was a 26.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Roque A. Santi sold 500 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $87.77, for a total value of $43,885.00. Following the transaction, the director directly owned 7,646 shares in the company, valued at $671,089.42. This trade represents a 6.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 4.85% of the company’s stock.

Axos Financial Company Profile

Axos Financial, Inc (NYSE: AX) is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.