5,117 Shares in Axos Financial, Inc (NYSE:AX) Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC 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 Securities & Exchange Commission. The institutional investor acquired 5,117 shares of the company's stock, valued at approximately $330,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Axos Financial by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 6,129,602 shares of the company's stock valued at $428,153,000 after purchasing an additional 49,695 shares during the last quarter. American Century Companies Inc. grew its holdings in Axos Financial by 9.6% in the fourth quarter. American Century Companies Inc. now owns 1,874,779 shares of the company's stock valued at $130,953,000 after purchasing an additional 163,952 shares during the last quarter. Geode Capital Management LLC grew its holdings in Axos Financial by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,488,259 shares of the company's stock valued at $103,975,000 after purchasing an additional 43,503 shares during the last quarter. Northern Trust Corp grew its holdings in Axos Financial by 4.7% in the fourth quarter. Northern Trust Corp now owns 742,837 shares of the company's stock valued at $51,887,000 after purchasing an additional 33,207 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in Axos Financial by 8.7% in the fourth quarter. Ameriprise Financial Inc. now owns 677,546 shares of the company's stock valued at $47,330,000 after purchasing an additional 54,238 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Wall Street Analyst Weigh In

AX has been the topic of several recent research reports. Raymond James Financial upped their price objective on Axos Financial from $72.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday. Jefferies Financial Group initiated coverage on Axos Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price objective on the stock. DA Davidson reduced their price objective on Axos Financial from $88.00 to $84.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Piper Sandler reduced their price objective 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. Finally, Keefe, Bruyette & Woods upped their price objective on Axos Financial from $85.00 to $90.00 and gave the company a "market perform" rating in a research report on Friday. One equities research 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. Based on data from MarketBeat.com, Axos Financial currently has an average rating of "Moderate Buy" and an average price target of $85.86.

Axos Financial Stock Performance

NYSE AX opened at $84.01 on Friday. The business's 50-day moving average price is $73.52 and its 200 day moving average price is $68.73. Axos Financial, Inc has a twelve month low of $54.46 and a twelve month high of $88.46. The company has a market capitalization of $4.74 billion, a PE ratio of 11.45 and a beta of 1.29. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.19.

Axos Financial (NYSE:AX - Get Free Report) last released its 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 return on equity of 17.58% and a net margin of 21.93%. The firm had revenue of $432.72 million for the quarter, compared to the consensus estimate of $305.04 million. During the same period in the prior year, the business posted $1.91 earnings per share. On average, research analysts predict that Axos Financial, Inc will post 7.22 earnings per share for the current year.

Axos Financial declared that its board has approved a share repurchase program on Monday, May 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Paul Grinberg sold 30,000 shares of the stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the transaction, the director directly owned 113,295 shares in the company, 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. Company insiders own 5.07% of the company's stock.

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.

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