Axos Financial, Inc (NYSE:AX) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its stake in Axos Financial, Inc (NYSE:AX) by 2.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,056 shares of the company’s stock after selling 644 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.05% of Axos Financial worth $1,939,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AX. Principal Financial Group Inc. raised its holdings in shares of Axos Financial by 5.4% in the fourth quarter. Principal Financial Group Inc. now owns 337,918 shares of the company’s stock worth $23,604,000 after acquiring an additional 17,201 shares during the last quarter. Ieq Capital LLC purchased a new stake in shares of Axos Financial in the fourth quarter valued at $412,000. Handelsbanken Fonder AB grew its position in shares of Axos Financial by 16.0% in the fourth quarter. Handelsbanken Fonder AB now owns 11,595 shares of the company’s stock valued at $810,000 after purchasing an additional 1,600 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of Axos Financial by 2.0% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 13,567 shares of the company’s stock valued at $948,000 after purchasing an additional 266 shares during the period. Finally, Illinois Municipal Retirement Fund grew its position in shares of Axos Financial by 0.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 29,916 shares of the company’s stock valued at $2,090,000 after purchasing an additional 196 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Axos Financial

In related news, Director Paul Grinberg sold 30,000 shares of the company’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $68.09, for a total value of $2,042,700.00. Following the completion of the sale, the director now owns 113,295 shares of the company’s stock, valued at $7,714,256.55. This represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.07% of the company’s stock.

Axos Financial Stock Up 3.5%

AX stock opened at $74.56 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.09 and a quick ratio of 1.09. Axos Financial, Inc has a 1-year low of $53.75 and a 1-year high of $88.46. The firm has a fifty day moving average price of $68.32 and a two-hundred day moving average price of $68.18. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 10.16 and a beta of 1.29.

Axos Financial (NYSE:AX) last released its earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.07. The firm had revenue of $432.72 million during the quarter, compared to analyst estimates of $305.04 million. Axos Financial had a net margin of 21.93% and a return on equity of 17.58%. During the same quarter in the previous year, the firm earned $1.91 earnings per share. Research analysts predict that Axos Financial, Inc will post 7.22 EPS for the current year.

Axos Financial announced that its Board of Directors has authorized a share buyback plan on Monday, May 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AX shares. DA Davidson lowered their price objective on Axos Financial from $88.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Wall Street Zen downgraded Axos Financial from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Jefferies Financial Group initiated coverage on Axos Financial in a research report on Wednesday, May 21st. They issued a “buy” rating and a $90.00 price objective for the company. Raymond James Financial reissued an “outperform” rating and set a $72.00 price target (down previously from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. Finally, Piper Sandler dropped their price target on Axos Financial from $84.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Axos Financial currently has a consensus rating of “Moderate Buy” and an average price target of $82.71.

Axos Financial Company 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.