Truist Financial Corp Reduces Stock Position in Axos Financial, Inc. (NYSE:AX)

Truist Financial Corp cut its stake in shares of Axos Financial, Inc. (NYSE:AX) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,530 shares of the company’s stock after selling 584 shares during the period. Truist Financial Corp’s holdings in Axos Financial were worth $666,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in shares of Axos Financial in the fourth quarter worth approximately $35,000. Ashton Thomas Securities LLC bought a new position in Axos Financial in the third quarter worth approximately $41,000. Farther Finance Advisors LLC boosted its stake in shares of Axos Financial by 881.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock worth $41,000 after acquiring an additional 582 shares during the last quarter. US Bancorp DE grew its position in shares of Axos Financial by 325.2% during the 3rd quarter. US Bancorp DE now owns 1,029 shares of the company’s stock valued at $65,000 after acquiring an additional 787 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Axos Financial in the 4th quarter worth $66,000. 83.79% of the stock is owned by institutional investors.

Axos Financial Stock Performance

NYSE:AX opened at $66.69 on Monday. The stock has a 50-day moving average price of $70.10 and a 200 day moving average price of $70.32. The stock has a market capitalization of $3.81 billion, a P/E ratio of 8.96 and a beta of 1.45. Axos Financial, Inc. has a 12-month low of $44.10 and a 12-month high of $88.46. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.07. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. Equities research analysts forecast that Axos Financial, Inc. will post 7.22 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Needham & Company LLC lifted their target price on Axos Financial from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. DA Davidson lowered their price objective on Axos Financial from $96.00 to $88.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. StockNews.com raised shares of Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Keefe, Bruyette & Woods decreased their target price on shares of Axos Financial from $91.00 to $90.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 29th. Finally, Raymond James reiterated an “outperform” rating and issued a $80.00 price target (up from $75.00) on shares of Axos Financial in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.17.

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.