Algert Global LLC Buys 17,410 Shares of Axos Financial, Inc $AX

Algert Global LLC increased its position in Axos Financial, Inc (NYSE:AX) by 5.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 329,480 shares of the company’s stock after purchasing an additional 17,410 shares during the quarter. Axos Financial makes up 0.5% of Algert Global LLC’s portfolio, making the stock its 14th largest holding. Algert Global LLC owned approximately 0.58% of Axos Financial worth $27,890,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new stake in shares of Axos Financial during the third quarter worth $26,000. Bessemer Group Inc. grew its position in shares of Axos Financial by 59.6% during the 3rd quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock worth $29,000 after buying an additional 130 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of Axos Financial during the 3rd quarter valued at $29,000. EverSource Wealth Advisors LLC increased its holdings in Axos Financial by 294.7% in the second quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock valued at $34,000 after purchasing an additional 333 shares during the last quarter. Finally, Root Financial Partners LLC acquired a new stake in shares of Axos Financial in the 3rd quarter valued at approximately $40,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Axos Financial Stock Performance

Shares of AX stock opened at $84.66 on Friday. Axos Financial, Inc has a one year low of $54.46 and a one year high of $101.92. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08. The business’s 50 day simple moving average is $93.17 and its 200 day simple moving average is $87.53. The stock has a market capitalization of $4.80 billion, a PE ratio of 10.73 and a beta of 1.27.

Axos Financial (NYSE:AX) last issued its earnings results on Thursday, January 29th. The company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.07 by $0.18. Axos Financial had a return on equity of 16.98% and a net margin of 22.66%.The business had revenue of $385.09 million during the quarter, compared to the consensus estimate of $345.89 million. During the same period in the previous year, the company posted $1.82 earnings per share. The firm’s revenue for the quarter was up 25.1% on a year-over-year basis. As a group, research analysts forecast that Axos Financial, Inc will post 7.22 earnings per share for the current year.

Insider Activity

In other Axos Financial news, CEO Gregory Garrabrants sold 43,294 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $99.10, for a total transaction of $4,290,435.40. Following the transaction, the chief executive officer directly owned 1,418,751 shares in the company, valued at approximately $140,598,224.10. This trade represents a 2.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James John Court sold 11,163 shares of Axos Financial stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $101.01, for a total transaction of $1,127,574.63. Following the transaction, the director directly owned 32,169 shares in the company, valued at approximately $3,249,390.69. This represents a 25.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 59,303 shares of company stock worth $5,908,474 over the last 90 days. 4.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AX. Jefferies Financial Group lifted their price objective on Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price target on shares of Axos Financial in a research report on Friday, February 13th. DA Davidson raised their price objective on Axos Financial from $107.50 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Axos Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $104.50.

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.