Insider Selling: AXOS FINANCIAL, INC (NYSE:AX) EVP Sells 13,960 Shares of Stock

Key Points

• Andrew J. Micheletti, EVP of Axos Financial, sold 13,960 shares at an average price of $85.38, totaling approximately $1.19 million, decreasing his position by 17.15%.
• Axos Financial recently reported $1.94 earnings per share for the last quarter, surpassing analyst estimates of $1.82 and showing a 10.5% increase in revenue year-over-year.
• The company has initiated a $100 million share buyback plan, indicating management's belief that its shares may be undervalued.

AXOS FINANCIAL, INC (NYSE:AX - Get Free Report) EVP Andrew J. Micheletti sold 13,960 shares of the business's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $85.38, for a total value of $1,191,904.80. Following the completion of the sale, the executive vice president directly owned 67,460 shares of the company's stock, valued at approximately $5,759,734.80. This trade represents a 17.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

AXOS FINANCIAL Stock Up 1.0%

AX stock traded up $0.81 during midday trading on Friday, hitting $84.93. The company's stock had a trading volume of 324,394 shares, compared to its average volume of 359,412. The firm's 50-day moving average is $79.41 and its 200-day moving average is $70.78. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. AXOS FINANCIAL, INC has a 12 month low of $54.46 and a 12 month high of $88.46. The company has a market cap of $4.79 billion, a PE ratio of 11.39 and a beta of 1.32.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.12. AXOS FINANCIAL had a return on equity of 17.11% and a net margin of 22.24%. The business had revenue of $321.45 million during the quarter, compared to analyst estimates of $311.73 million. During the same quarter last year, the company earned $1.83 EPS. The company's quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts forecast that AXOS FINANCIAL, INC will post 7.22 earnings per share for the current fiscal year.

AXOS FINANCIAL announced that its Board of Directors has initiated a share repurchase plan on Monday, May 12th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

Institutional Trading of AXOS FINANCIAL

A number of institutional investors have recently made changes to their positions in AX. Wealth Enhancement Advisory Services LLC lifted its holdings in AXOS FINANCIAL by 94.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the company's stock valued at $517,000 after acquiring an additional 3,901 shares during the period. NewEdge Advisors LLC lifted its holdings in AXOS FINANCIAL by 1,700.0% in the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after acquiring an additional 850 shares during the period. GAMMA Investing LLC lifted its holdings in AXOS FINANCIAL by 39.2% in the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock valued at $118,000 after acquiring an additional 516 shares during the period. Envestnet Asset Management Inc. lifted its holdings in AXOS FINANCIAL by 16.0% in the first quarter. Envestnet Asset Management Inc. now owns 50,402 shares of the company's stock valued at $3,252,000 after acquiring an additional 6,957 shares during the period. Finally, O Shaughnessy Asset Management LLC bought a new position in AXOS FINANCIAL in the fourth quarter valued at about $223,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on AX. Keefe, Bruyette & Woods upped their target price on shares of AXOS FINANCIAL from $90.00 to $94.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Wall Street Zen raised shares of AXOS FINANCIAL from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Raymond James Financial reiterated an "outperform" rating and set a $95.00 target price (up from $90.00) on shares of AXOS FINANCIAL in a report on Thursday, July 31st. DA Davidson raised their price objective on AXOS FINANCIAL from $96.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Needham & Company LLC lifted their price objective on AXOS FINANCIAL from $92.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $90.86.

About AXOS FINANCIAL

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.