Voss Capital LP Takes $13.40 Million Position in AXOS FINANCIAL, INC $AX

Key Points

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Voss Capital LP acquired a new position in shares of AXOS FINANCIAL, INC (NYSE:AX - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 207,704 shares of the company's stock, valued at approximately $13,401,000. AXOS FINANCIAL accounts for approximately 1.0% of Voss Capital LP's investment portfolio, making the stock its 24th biggest position. Voss Capital LP owned 0.37% of AXOS FINANCIAL as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Common Retirement Fund grew its stake in shares of AXOS FINANCIAL by 1.1% during the 1st quarter. New York State Common Retirement Fund now owns 17,143 shares of the company's stock worth $1,106,000 after purchasing an additional 181 shares during the period. SummerHaven Investment Management LLC grew its stake in shares of AXOS FINANCIAL by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 13,386 shares of the company's stock worth $864,000 after purchasing an additional 206 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of AXOS FINANCIAL by 1.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 15,844 shares of the company's stock worth $1,022,000 after purchasing an additional 223 shares during the period. Stifel Financial Corp grew its stake in shares of AXOS FINANCIAL by 3.4% during the 4th quarter. Stifel Financial Corp now owns 7,310 shares of the company's stock worth $511,000 after purchasing an additional 241 shares during the period. Finally, Hancock Whitney Corp grew its stake in shares of AXOS FINANCIAL by 2.5% during the 4th quarter. Hancock Whitney Corp now owns 11,202 shares of the company's stock worth $782,000 after purchasing an additional 271 shares during the period. Institutional investors and hedge funds own 83.79% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on AXOS FINANCIAL in a research report on Wednesday, May 21st. They set a "buy" rating and a $90.00 target price on the stock. Wall Street Zen upgraded AXOS FINANCIAL from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods lifted their price target on AXOS FINANCIAL from $90.00 to $94.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Needham & Company LLC boosted their price objective on shares of AXOS FINANCIAL from $92.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, DA Davidson boosted their price objective on shares of AXOS FINANCIAL from $96.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $90.86.

AXOS FINANCIAL Stock Up 5.8%

AX stock traded up $4.9830 during trading on Friday, hitting $90.8130. 620,645 shares of the company's stock were exchanged, compared to its average volume of 373,307. 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 52-week low of $54.46 and a 52-week high of $91.17. The business has a 50-day moving average price of $82.72 and a two-hundred day moving average price of $71.92. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of 12.17 and a beta of 1.32.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.94 earnings per share for the quarter, beating 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 quarter in the previous year, the business earned $1.83 earnings per share. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. As a group, equities research analysts expect that AXOS FINANCIAL, INC will post 7.22 EPS for the current year.

AXOS FINANCIAL declared that its board has initiated a stock buyback program on Monday, May 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Transactions at AXOS FINANCIAL

In other AXOS FINANCIAL news, EVP Andrew J. Micheletti sold 13,960 shares of the stock in a transaction on 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 completion of the transaction, the executive vice president owned 67,460 shares in the company, valued at approximately $5,759,734.80. This represents a 17.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.07% of the company's stock.

AXOS FINANCIAL 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.