Axos Financial, Inc. (NYSE:AX) Stock Position Reduced by JARISLOWSKY FRASER Ltd

JARISLOWSKY FRASER Ltd trimmed its position in shares of Axos Financial, Inc. (NYSE:AX - Free Report) by 34.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 404,939 shares of the company's stock after selling 209,399 shares during the quarter. JARISLOWSKY FRASER Ltd owned 0.71% of Axos Financial worth $28,285,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of AX. Heck Capital Advisors LLC acquired a new stake in Axos Financial in the 4th quarter valued at about $35,000. Kestra Investment Management LLC acquired a new stake in Axos Financial in the 4th quarter valued at about $52,000. NewEdge Advisors LLC raised its position in Axos Financial by 1,700.0% in the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after purchasing an additional 850 shares in the last quarter. R Squared Ltd acquired a new stake in Axos Financial in the 4th quarter valued at about $66,000. Finally, SRS Capital Advisors Inc. raised its position in shares of Axos Financial by 238.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,097 shares of the company's stock worth $77,000 after acquiring an additional 773 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AX. Piper Sandler cut their target price on Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. DA Davidson dropped their target price on Axos Financial from $88.00 to $84.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Keefe, Bruyette & Woods decreased their price target on Axos Financial from $91.00 to $90.00 and set a "market perform" rating on the stock in a research note on Wednesday, January 29th. Raymond James restated an "outperform" rating and issued a $72.00 price target (down from $80.00) on shares of Axos Financial in a research note on Friday, May 2nd. Finally, Needham & Company LLC reiterated a "buy" rating and set a $88.00 target price on shares of Axos Financial in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $81.50.

Insider Activity

In other Axos Financial news, Director Sara Wardell-Smith purchased 3,000 shares of Axos Financial stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average price of $64.73 per share, with a total value of $194,190.00. Following the completion of the acquisition, the director now owns 10,250 shares of the company's stock, valued at approximately $663,482.50. This trade represents a 41.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul Grinberg sold 30,000 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $68.09, for a total value of $2,042,700.00. Following the completion of the transaction, the director now directly owns 113,295 shares of the company's stock, valued at $7,714,256.55. This represents a 20.94% decrease in their position. The disclosure for this sale can be found here. Insiders own 5.07% of the company's stock.

Axos Financial Trading Down 1.2%

NYSE:AX traded down $0.89 on Wednesday, hitting $72.70. 24,044 shares of the stock were exchanged, compared to its average volume of 518,765. The stock has a market cap of $4.10 billion, a PE ratio of 9.76 and a beta of 1.25. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average of $63.12 and a 200-day moving average of $69.70. Axos Financial, Inc. has a fifty-two week low of $44.10 and a fifty-two week high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.74 by $0.07. The company had revenue of $432.72 million during the quarter, compared to analyst estimates of $305.04 million. Axos Financial had a return on equity of 18.67% and a net margin of 22.10%. During the same period in the prior year, the firm posted $1.91 earnings per share. As a group, equities analysts expect that Axos Financial, Inc. will post 7.22 earnings per share for the current fiscal year.

Axos Financial declared that its Board of Directors has approved a share repurchase plan on Monday, May 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its stock is undervalued.

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.