Allspring Global Investments Holdings LLC Acquires 119,523 Shares of Axos Financial, Inc $AX

Allspring Global Investments Holdings LLC grew its holdings in shares of Axos Financial, Inc (NYSE:AX) by 38.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 432,739 shares of the company’s stock after buying an additional 119,523 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.76% of Axos Financial worth $37,203,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Axos Financial by 9.8% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 44,700 shares of the company’s stock worth $3,804,000 after purchasing an additional 4,000 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Axos Financial by 12.7% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,238 shares of the company’s stock worth $361,000 after acquiring an additional 478 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Axos Financial by 4.9% during the 1st quarter. Principal Financial Group Inc. now owns 353,951 shares of the company’s stock valued at $30,118,000 after purchasing an additional 16,627 shares during the last quarter. Fifth Third Bancorp increased its holdings in Axos Financial by 3,056.6% during the 1st quarter. Fifth Third Bancorp now owns 13,826 shares of the company’s stock worth $1,176,000 after purchasing an additional 13,388 shares in the last quarter. Finally, Equitable Trust Co. increased its holdings in Axos Financial by 42.2% during the 1st quarter. Equitable Trust Co. now owns 6,528 shares of the company’s stock worth $555,000 after purchasing an additional 1,937 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Axos Financial Stock Performance

Axos Financial stock opened at $99.44 on Monday. Axos Financial, Inc has a 1-year low of $74.89 and a 1-year high of $102.18. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $5.66 billion, a PE ratio of 12.08 and a beta of 1.23. The firm’s 50 day simple moving average is $90.79 and its 200 day simple moving average is $91.28.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.23). The firm had revenue of $392.25 million during the quarter, compared to the consensus estimate of $372.51 million. Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. During the same period in the previous year, the business earned $1.81 earnings per share. As a group, analysts expect that Axos Financial, Inc will post 8.38 earnings per share for the current fiscal year.

Insider Activity at Axos Financial

In related news, Director Roque A. Santi sold 500 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $87.77, for a total value of $43,885.00. Following the completion of the transaction, the director directly owned 7,646 shares in the company, valued at approximately $671,089.42. The trade was a 6.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael James Watson sold 1,653 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total value of $138,471.81. Following the completion of the transaction, the executive vice president directly owned 4,592 shares in the company, valued at approximately $384,671.84. This represents a 26.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 4.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings upgraded Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Zacks Research lowered Axos Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Raymond James Financial raised Axos Financial from an “outperform” rating to a “strong-buy” rating and cut their price objective for the stock from $110.00 to $100.00 in a research report on Tuesday, April 7th. Finally, Benchmark began coverage on Axos Financial in a research report on Wednesday, July 8th. They set a “buy” rating and a $115.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $110.33.

Axos Financial 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.