Concurrent Investment Advisors LLC Invests $330,000 in Axos Financial, Inc (NYSE:AX)

Concurrent Investment Advisors LLC bought a new position in shares of Axos Financial, Inc (NYSE:AX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,117 shares of the company's stock, valued at approximately $330,000.

A number of other institutional investors have also recently bought and sold shares of AX. Principal Financial Group Inc. lifted its position in Axos Financial by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 347,799 shares of the company's stock valued at $22,440,000 after acquiring an additional 9,881 shares in the last quarter. Moran Wealth Management LLC grew its position in shares of Axos Financial by 11.7% during the 1st quarter. Moran Wealth Management LLC now owns 6,195 shares of the company's stock worth $400,000 after purchasing an additional 649 shares in the last quarter. Vicus Capital acquired a new position in shares of Axos Financial during the 1st quarter worth approximately $219,000. Exchange Traded Concepts LLC lifted its holdings 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 acquiring an additional 223 shares during the period. Finally, Palouse Capital Management Inc. lifted its holdings in shares of Axos Financial by 37.2% during the 1st quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock worth $171,000 after acquiring an additional 718 shares during the period. Institutional investors and hedge funds own 83.79% of the company's stock.

Insiders Place Their Bets

In other Axos Financial news, 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 transaction of $2,042,700.00. Following the completion of the sale, the director directly owned 113,295 shares of the company's stock, valued at approximately $7,714,256.55. This represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.07% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

AX has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Axos Financial from $85.00 to $90.00 and gave the stock a "market perform" rating in a research note on Friday. DA Davidson lowered their price objective on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC boosted their price target on shares of Axos Financial from $88.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Piper Sandler decreased their price target on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Raymond James Financial increased their target price on shares of Axos Financial from $72.00 to $90.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $85.86.

Axos Financial Price Performance

NYSE:AX traded down $2.91 during trading hours on Tuesday, hitting $82.80. 415,608 shares of the stock traded hands, compared to its average volume of 470,438. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.19. Axos Financial, Inc has a 1 year low of $54.46 and a 1 year high of $88.46. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 11.28 and a beta of 1.29. The stock has a 50 day moving average price of $73.52 and a 200 day moving average price of $68.68.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.07. Axos Financial had a net margin of 21.93% and a return on equity of 17.58%. The company had revenue of $432.72 million for the quarter, compared to analysts' expectations of $305.04 million. During the same quarter in the previous year, the business posted $1.91 earnings per share. Sell-side analysts forecast that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

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

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.