13,180 Shares in Axos Financial, Inc $AX Bought by SummerHaven Investment Management LLC

Key Points

• SummerHaven Investment Management bought a new 13,180-share position in Axos Financial valued at approximately $1.14 million during the third quarter.
• Institutional investors own 83.79% of Axos Financial, with major stakes or purchases from BlackRock, Dimensional Fund Advisors, Davis Asset Management and others.
• Axos Financial exceeded quarterly earnings expectations, reporting $2.53 in EPS versus the $2.16 consensus estimate. Analysts maintain a “Moderate Buy” consensus with an average price target of $115.67.

SummerHaven Investment Management LLC purchased a new position in shares of Axos Financial, Inc (NYSE:AX - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 13,180 shares of the company's stock, valued at approximately $1,141,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Axos Financial in the 2nd quarter valued at approximately $817,051,000. Dimensional Fund Advisors LP increased its holdings in Axos Financial by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,177,003 shares of the company's stock worth $185,234,000 after buying an additional 7,509 shares during the last quarter. Davis Asset Management L.P. acquired a new position in Axos Financial during the second quarter worth $149,515,000. Allspring Global Investments Holdings LLC increased its holdings in Axos Financial by 38.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 432,739 shares of the company's stock worth $37,203,000 after buying an additional 119,523 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Axos Financial during the second quarter worth $36,816,000. Institutional investors own 83.79% of the company's stock.

Axos Financial Price Performance

NYSE:AX opened at $88.35 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The stock's 50 day moving average price is $93.22 and its two-hundred day moving average price is $92.80. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of 10.43 and a beta of 1.28. Axos Financial, Inc has a 12-month low of $74.89 and a 12-month high of $105.74.

Axos Financial (NYSE:AX - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $2.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.16 by $0.37. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%. The company had revenue of $379.77 million during the quarter, compared to analysts' expectations of $375.54 million. During the same period last year, the firm posted $1.94 earnings per share. On average, analysts anticipate that Axos Financial, Inc will post 9.69 earnings per share for the current year.

Insider Buying and Selling at Axos Financial

In related news, Director Roque Santi sold 500 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total value of $52,650.00. Following the sale, the director owned 7,146 shares in the company, valued at approximately $752,473.80. This represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings raised shares of Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, October 9th. Needham & Company LLC reissued a "buy" rating and issued a $128.00 price objective on shares of Axos Financial in a research report on Monday, October 5th. DA Davidson set a $121.00 price objective on shares of Axos Financial in a research report on Friday, July 31st. Benchmark boosted their price objective on shares of Axos Financial from $115.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Axos Financial from $105.00 to $110.00 and gave the company a "market perform" rating in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $115.67.

Axos Financial Profile

Axos Financial, Inc is the holding company for Axos Bank, a nationwide digital bank that provides banking and financial services to consumers and businesses. The company operates primarily through online and mobile platforms, allowing it to serve customers across the United States without relying on a traditional branch network.

Axos Bank offers personal banking products such as checking and savings accounts, certificates of deposit, mortgages, personal loans and other consumer lending products.

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