Axos Financial, Inc (NYSE:AX) EVP Andrew J. Micheletti Sells 13,960 Shares

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 firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $85.38, for a total value of $1,191,904.80. Following the sale, the executive vice president directly owned 67,460 shares in the company, valued at $5,759,734.80. This trade represents a 17.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Axos Financial Price Performance

AX traded up $0.35 during trading on Tuesday, reaching $85.88. 334,521 shares of the stock were exchanged, compared to its average volume of 395,614. The business's 50 day moving average price is $78.25 and its two-hundred day moving average price is $70.40. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 11.51 and a beta of 1.32. Axos Financial, Inc has a 1 year low of $54.46 and a 1 year high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.94 earnings per share 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 company had revenue of $321.45 million during the quarter, compared to analysts' expectations of $311.73 million. During the same period in the previous year, the firm posted $1.83 earnings per share. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Axos Financial, Inc will post 7.22 earnings per share for the current year.

Axos Financial announced that its board has initiated a share buyback plan on Monday, May 12th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On Axos Financial

Institutional investors have recently added to or reduced their stakes in the company. Heck Capital Advisors LLC purchased a new position in Axos Financial in the fourth quarter valued at about $35,000. IFP Advisors Inc boosted its holdings in Axos Financial by 360.7% in the second quarter. IFP Advisors Inc now owns 493 shares of the company's stock valued at $37,000 after purchasing an additional 386 shares during the last quarter. NewEdge Advisors LLC raised its stake in Axos Financial by 1,700.0% during the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after buying an additional 850 shares in the last quarter. GAMMA Investing LLC raised its stake in Axos Financial by 39.2% during the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock valued at $118,000 after buying an additional 516 shares in the last quarter. Finally, Quarry LP acquired a new stake in Axos Financial during the first quarter valued at approximately $119,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $95.00 price target (up previously from $90.00) on shares of Axos Financial in a research report on Thursday, July 31st. Piper Sandler lowered their target price on Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. DA Davidson lifted their target price on Axos Financial from $96.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Keefe, Bruyette & Woods lifted their target price on Axos Financial from $90.00 to $94.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Finally, Needham & Company LLC lifted their target price 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $90.86.

Axos Financial Company Profile

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.

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