Argent Capital Management LLC Increases Stake in Axos Financial, Inc. (NYSE:AX)

Argent Capital Management LLC raised its stake in Axos Financial, Inc. (NYSE:AX) by 39.6% in the second quarter, HoldingsChannel reports. The fund owned 8,374 shares of the company’s stock after purchasing an additional 2,375 shares during the period. Argent Capital Management LLC’s holdings in Axos Financial were worth $479,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of AX. Trexquant Investment LP acquired a new position in Axos Financial in the 4th quarter worth about $1,743,000. Lazard Asset Management LLC raised its stake in shares of Axos Financial by 6.1% during the 1st quarter. Lazard Asset Management LLC now owns 260,100 shares of the company’s stock worth $14,055,000 after buying an additional 14,953 shares during the period. GSA Capital Partners LLP lifted its position in shares of Axos Financial by 122.2% during the 1st quarter. GSA Capital Partners LLP now owns 31,440 shares of the company’s stock valued at $1,699,000 after buying an additional 17,288 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in Axos Financial in the 4th quarter valued at $5,495,000. Finally, First Eagle Investment Management LLC increased its holdings in Axos Financial by 7.2% in the 1st quarter. First Eagle Investment Management LLC now owns 187,572 shares of the company’s stock worth $10,136,000 after acquiring an additional 12,650 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analyst Upgrades and Downgrades

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

Axos Financial Price Performance

AX traded up $5.20 on Friday, reaching $69.69. 756,234 shares of the company’s stock were exchanged, compared to its average volume of 607,277. Axos Financial, Inc. has a twelve month low of $32.05 and a twelve month high of $79.15. The stock has a market cap of $3.97 billion, a PE ratio of 9.46 and a beta of 1.43. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.07. The stock’s fifty day moving average price is $63.52 and its 200-day moving average price is $56.89.

Axos Financial (NYSE:AX) last issued its earnings results on Tuesday, July 30th. The company reported $1.80 earnings per share for the quarter, hitting the consensus estimate of $1.80. Axos Financial had a return on equity of 18.57% and a net margin of 23.96%. The business had revenue of $484.29 million for the quarter, compared to analysts’ expectations of $296.02 million. During the same period in the previous year, the firm posted $1.50 EPS. Sell-side analysts expect that Axos Financial, Inc. will post 7.25 EPS 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.