Empirical Finance LLC Reduces Stock Holdings in Axos Financial, Inc $AX

Empirical Finance LLC lowered its stake in shares of Axos Financial, Inc (NYSE:AX) by 14.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 152,847 shares of the company’s stock after selling 25,434 shares during the quarter. Axos Financial accounts for 0.6% of Empirical Finance LLC’s holdings, making the stock its 29th biggest holding. Empirical Finance LLC’s holdings in Axos Financial were worth $14,886,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of AX. Eurizon Capital SGR S.p.A. bought a new position in Axos Financial during the fourth quarter valued at $26,000. Basepoint Wealth LLC bought a new stake in shares of Axos Financial in the 4th quarter worth about $28,000. Brown Brothers Harriman & Co. purchased a new position in shares of Axos Financial during the 3rd quarter worth about $29,000. State of Wyoming purchased a new position in shares of Axos Financial during the 1st quarter worth about $30,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Axos Financial by 294.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock valued at $34,000 after purchasing an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AX. Keefe, Bruyette & Woods increased their price objective on shares of Axos Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Benchmark boosted their target price on Axos Financial from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings raised Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Needham & Company LLC increased their price target on Axos Financial from $110.00 to $128.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, DA Davidson set a $121.00 price target on Axos Financial in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.67.

Insider Activity at Axos Financial

In other news, Director Roque Santi sold 500 shares of Axos Financial stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.30, for a total transaction of $52,650.00. Following the completion of the sale, the director owned 7,146 shares of the company’s stock, valued at approximately $752,473.80. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.85% of the company’s stock.

Axos Financial Trading Down 1.3%

Shares of NYSE AX traded down $1.30 during mid-day trading on Tuesday, reaching $96.65. The company had a trading volume of 268,387 shares, compared to its average volume of 382,398. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 11.41 and a beta of 1.22. Axos Financial, Inc has a 52 week low of $74.89 and a 52 week high of $105.74. The business’s 50-day moving average is $98.47 and its 200-day moving average is $92.45. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.35.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.37. The company had revenue of $379.77 million during the quarter, compared to analyst estimates of $375.54 million. Axos Financial had a net margin of 22.39% and a return on equity of 16.96%. During the same quarter last year, the business posted $1.94 EPS. Equities analysts expect that Axos Financial, Inc will post 9.59 earnings per share for the current year.

Axos Financial 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.