Wasatch Advisors LP Decreases Stake in Axos Financial, Inc. (NYSE:AX)

Wasatch Advisors LP lessened its position in shares of Axos Financial, Inc. (NYSE:AX) by 11.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,068,209 shares of the company’s stock after selling 141,277 shares during the period. Wasatch Advisors LP owned about 1.88% of Axos Financial worth $58,324,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AX. SummerHaven Investment Management LLC increased its holdings in shares of Axos Financial by 1.2% in the 4th quarter. SummerHaven Investment Management LLC now owns 17,185 shares of the company’s stock valued at $938,000 after acquiring an additional 206 shares during the last quarter. Covestor Ltd raised its holdings in Axos Financial by 34.1% during the third quarter. Covestor Ltd now owns 1,302 shares of the company’s stock worth $49,000 after purchasing an additional 331 shares in the last quarter. D.A. Davidson & CO. lifted its position in shares of Axos Financial by 1.6% during the 3rd quarter. D.A. Davidson & CO. now owns 24,403 shares of the company’s stock worth $924,000 after buying an additional 385 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Axos Financial by 8.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,318 shares of the company’s stock worth $290,000 after buying an additional 394 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. boosted its holdings in shares of Axos Financial by 1.5% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 28,111 shares of the company’s stock valued at $1,535,000 after buying an additional 408 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AX shares. Wedbush reissued a “neutral” rating and issued a $60.00 price target on shares of Axos Financial in a research report on Wednesday, May 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $79.00 target price on shares of Axos Financial in a research report on Tuesday, June 4th. Finally, Piper Sandler upped their target price on Axos Financial from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $67.25.

Insider Buying and Selling

In other news, Director Sara Wardell-Smith bought 5,000 shares of Axos Financial stock in a transaction dated Friday, March 15th. The stock was bought at an average price of $49.75 per share, for a total transaction of $248,750.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $248,750. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 4.82% of the company’s stock.

Axos Financial Stock Performance

Shares of AX traded down $0.51 during mid-day trading on Tuesday, hitting $51.63. 8,593 shares of the company’s stock were exchanged, compared to its average volume of 587,606. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.20. Axos Financial, Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $63.00. The business’s 50 day moving average is $54.57 and its two-hundred day moving average is $52.61. The firm has a market capitalization of $2.94 billion, a P/E ratio of 7.07 and a beta of 1.39.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.70 by $0.21. Axos Financial had a return on equity of 18.57% and a net margin of 24.39%. The firm had revenue of $476.73 million during the quarter, compared to the consensus estimate of $277.85 million. During the same period in the prior year, the business earned $1.35 EPS. On average, equities analysts expect that Axos Financial, Inc. will post 6.76 earnings per share for the current year.

Axos Financial Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.