1620 Investment Advisors Inc. Acquires New Shares in Axos Financial, Inc. (NYSE:AX)

1620 Investment Advisors Inc. purchased a new stake in shares of Axos Financial, Inc. (NYSE:AX) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 855 shares of the company’s stock, valued at approximately $49,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. M&G Plc lifted its position in shares of Axos Financial by 12.4% during the 2nd quarter. M&G Plc now owns 171,740 shares of the company’s stock valued at $9,789,000 after buying an additional 18,978 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Axos Financial by 85.8% during the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 26,200 shares of the company’s stock valued at $1,497,000 after purchasing an additional 12,100 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Axos Financial by 453.9% in the second quarter. SG Americas Securities LLC now owns 32,124 shares of the company’s stock worth $1,836,000 after purchasing an additional 26,324 shares during the period. CWM LLC increased its stake in shares of Axos Financial by 5.4% in the second quarter. CWM LLC now owns 5,208 shares of the company’s stock worth $298,000 after purchasing an additional 269 shares in the last quarter. Finally, Hancock Whitney Corp raised its position in shares of Axos Financial by 213.6% during the 1st quarter. Hancock Whitney Corp now owns 12,461 shares of the company’s stock valued at $673,000 after purchasing an additional 8,488 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AX has been the topic of several research analyst reports. Raymond James boosted their price objective on Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler lifted their price objective on shares of Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Wedbush upped their target price on shares of Axos Financial from $60.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods downgraded shares of Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 price target on the stock. in a report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Axos Financial presently has a consensus rating of “Hold” and a consensus price target of $81.00.

Axos Financial Price Performance

Axos Financial stock traded up $0.25 during mid-day trading on Thursday, reaching $64.47. 214,367 shares of the company’s stock traded hands, compared to its average volume of 606,363. Axos Financial, Inc. has a 12-month low of $32.05 and a 12-month high of $79.15. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 8.75 and a beta of 1.43. The stock has a 50 day moving average of $62.95 and a two-hundred day moving average of $56.71. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Axos Financial (NYSE:AX) last released its earnings results on Tuesday, July 30th. The company reported $1.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.80. The firm had revenue of $484.29 million during the quarter, compared to analyst estimates of $296.02 million. Axos Financial had a net margin of 23.96% and a return on equity of 18.57%. During the same quarter last year, the business earned $1.50 EPS. Equities analysts forecast that Axos Financial, Inc. will post 7.25 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.