Axos Financial, Inc $AX Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Axos Financial, Inc (NYSE:AX) by 2.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 368,667 shares of the company’s stock after selling 9,138 shares during the period. Bank of New York Mellon Corp owned 0.65% of Axos Financial worth $31,370,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Axos Financial news, Director Roque A. Santi sold 500 shares of the firm’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $87.77, for a total value of $43,885.00. Following the sale, the director directly owned 7,646 shares in the company, valued at approximately $671,089.42. This trade represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael James Watson sold 1,653 shares of the business’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total transaction of $138,471.81. Following the transaction, the executive vice president directly owned 4,592 shares of the company’s stock, valued at $384,671.84. The trade was a 26.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.85% of the stock is currently owned by corporate insiders.

Axos Financial Price Performance

Shares of NYSE AX opened at $95.75 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.38. Axos Financial, Inc has a fifty-two week low of $74.89 and a fifty-two week high of $102.18. The business has a 50 day moving average price of $92.06 and a two-hundred day moving average price of $91.61. The firm has a market cap of $5.45 billion, a PE ratio of 11.63 and a beta of 1.23.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on AX shares. Benchmark started coverage on Axos Financial in a report on Wednesday, July 8th. They issued a “buy” rating and a $115.00 price objective on the stock. Weiss Ratings upgraded Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Zacks Research downgraded shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, Raymond James Financial upgraded shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $110.00 to $100.00 in a report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Axos Financial currently has an average rating of “Buy” and an average target price of $110.33.

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.