Bank of New York Mellon Corp Sells 16,737 Shares of Axos Financial, Inc (NYSE:AX)

Bank of New York Mellon Corp lowered its holdings in Axos Financial, Inc (NYSE:AX) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 394,144 shares of the company’s stock after selling 16,737 shares during the quarter. Bank of New York Mellon Corp owned about 0.69% of Axos Financial worth $25,430,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its stake in shares of Axos Financial by 4.2% during the fourth quarter. Victory Capital Management Inc. now owns 16,629 shares of the company’s stock valued at $1,162,000 after acquiring an additional 671 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Axos Financial during the fourth quarter worth about $1,264,000. HighTower Advisors LLC grew its holdings in shares of Axos Financial by 220.2% during the fourth quarter. HighTower Advisors LLC now owns 13,348 shares of the company’s stock worth $932,000 after buying an additional 9,180 shares in the last quarter. Swiss National Bank grew its holdings in shares of Axos Financial by 0.7% during the fourth quarter. Swiss National Bank now owns 106,400 shares of the company’s stock worth $7,432,000 after buying an additional 700 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in Axos Financial by 3.7% during the fourth quarter. Natixis Advisors LLC now owns 21,814 shares of the company’s stock valued at $1,524,000 after purchasing an additional 784 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Buying and Selling

In related news, Director Paul Grinberg sold 30,000 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was 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 directly owned 113,295 shares of the company’s stock, valued at $7,714,256.55. The trade was a 20.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.07% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AX. DA Davidson reduced their price target 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. Raymond James Financial lifted their price target on Axos Financial from $72.00 to $90.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods raised their price objective on Axos Financial from $85.00 to $90.00 and gave the stock a “market perform” rating in a research note on Friday, July 11th. Piper Sandler lowered their price objective on Axos Financial from $84.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Finally, Jefferies Financial Group began coverage on Axos Financial in a research note on Wednesday, May 21st. They issued a “buy” rating and a $90.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.86.

Axos Financial Stock Up 0.5%

Shares of AX opened at $83.30 on Thursday. The company has a market capitalization of $4.70 billion, a PE ratio of 11.35 and a beta of 1.29. Axos Financial, Inc has a 12 month low of $54.46 and a 12 month high of $88.46. The stock’s 50-day moving average price is $74.51 and its two-hundred day moving average price is $68.98. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.19.

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

Axos Financial announced that its Board of Directors has approved a share repurchase plan on Monday, May 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.