Emerald Advisers LLC Reduces Holdings in Axos Financial, Inc $AX

Emerald Advisers LLC lowered its position in Axos Financial, Inc (NYSE:AX) by 4.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 528,912 shares of the company’s stock after selling 24,679 shares during the quarter. Axos Financial accounts for approximately 1.4% of Emerald Advisers LLC’s holdings, making the stock its 16th biggest holding. Emerald Advisers LLC owned about 0.93% of Axos Financial worth $44,772,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. American Century Companies Inc. increased its position in shares of Axos Financial by 10.5% during the second quarter. American Century Companies Inc. now owns 2,378,121 shares of the company’s stock worth $180,832,000 after acquiring an additional 226,892 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in Axos Financial during the 2nd quarter valued at approximately $9,639,000. Edgestream Partners L.P. grew its stake in Axos Financial by 199.7% during the 2nd quarter. Edgestream Partners L.P. now owns 165,283 shares of the company’s stock valued at $12,568,000 after purchasing an additional 110,136 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Axos Financial by 62.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 257,843 shares of the company’s stock worth $21,538,000 after purchasing an additional 99,042 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Axos Financial in the 2nd quarter valued at approximately $6,460,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Tamara N. Bohlig sold 2,145 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $86.23, for a total value of $184,963.35. Following the sale, the director owned 12,919 shares of the company’s stock, valued at $1,114,005.37. This trade represents a 14.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward James Ratinoff sold 2,145 shares of Axos Financial stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $84.59, for a total transaction of $181,445.55. Following the completion of the sale, the director owned 46,209 shares in the company, valued at approximately $3,908,819.31. This represents a 4.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.85% of the company’s stock.

Analyst Upgrades and Downgrades

AX has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on shares of Axos Financial from $94.00 to $100.00 and gave the stock a “market perform” rating in a research note on Monday, September 29th. DA Davidson boosted their target price on shares of Axos Financial from $106.00 to $107.50 and gave the stock a “buy” rating in a research report on Monday, December 8th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $107.00 price target on shares of Axos Financial in a research note on Friday, January 16th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $97.42.

Axos Financial Stock Performance

Shares of NYSE AX opened at $96.21 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.54. The firm’s 50-day moving average price is $86.26 and its two-hundred day moving average price is $85.61. Axos Financial, Inc has a 52-week low of $54.46 and a 52-week high of $97.49. The stock has a market capitalization of $5.45 billion, a P/E ratio of 12.88 and a beta of 1.26.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Thursday, October 30th. The company reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.86 by $0.21. Axos Financial had a return on equity of 16.72% and a net margin of 22.41%.The business had revenue of $323.39 million for the quarter, compared to analysts’ expectations of $319.96 million. During the same period in the prior year, the firm earned $1.96 EPS. As a group, sell-side analysts forecast that Axos Financial, Inc will post 7.22 earnings per share for the current year.

Axos Financial Company Profile

Axos Financial, Inc (NYSE: AX) is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.