Algert Global LLC Sells 34,181 Shares of Axos Financial, Inc $AX

Key Points

• Algert Global LLC cut its Axos Financial stake by 17.8% in the second quarter, selling 34,181 shares and retaining 157,663 shares valued at approximately $15.4 million. Institutional investors and hedge funds collectively own 83.79% of the company.
• Analysts remain broadly positive, with Axos carrying a “Moderate Buy” consensus rating and an average price target of $115.67; recent targets range from $110 to $128.
• Axos Financial exceeded quarterly expectations, reporting $2.53 in EPS versus the $2.16 consensus and revenue of $379.77 million versus $375.54 million expected. Shares opened at $98.72, near their 52-week high of $105.74.

Algert Global LLC lessened its stake in Axos Financial, Inc (NYSE:AX - Free Report) by 17.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 157,663 shares of the company's stock after selling 34,181 shares during the period. Algert Global LLC owned 0.28% of Axos Financial worth $15,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. purchased a new position in Axos Financial during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new stake in Axos Financial in the 4th quarter worth about $28,000. Brown Brothers Harriman & Co. purchased a new stake in shares of Axos Financial during the third quarter worth approximately $29,000. State of Wyoming purchased a new stake in shares of Axos Financial during the first quarter worth $30,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Axos Financial by 294.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company's stock valued at $34,000 after acquiring an additional 333 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on AX. Benchmark lifted their target price 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. DA Davidson set a $121.00 price target on shares of Axos Financial in a research report on Friday, July 31st. Keefe, Bruyette & Woods lifted their target price on Axos Financial from $105.00 to $110.00 and gave the company a "market perform" rating in a report on Friday, July 31st. Weiss Ratings upgraded shares of Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. Finally, Needham & Company LLC increased their price objective on Axos Financial from $110.00 to $128.00 and gave the company a "buy" rating in a report on Friday, July 31st. One 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $115.67.

Insider Activity

In related news, Director Roque A. 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 transaction of $52,650.00. Following the sale, the director owned 7,146 shares of the company's stock, valued at $752,473.80. This trade represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.85% of the stock is owned by corporate insiders.

Axos Financial Price Performance

Shares of AX opened at $98.72 on Wednesday. The stock's 50 day moving average is $97.51 and its two-hundred day moving average is $92.47. Axos Financial, Inc has a twelve month low of $74.89 and a twelve month high of $105.74. The firm has a market capitalization of $5.60 billion, a PE ratio of 11.66 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.35.

Axos Financial (NYSE:AX - Get Free Report) last posted its quarterly earnings results 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 net margin of 22.39% and a return on equity of 16.96%. The company had revenue of $379.77 million during the quarter, compared to the consensus estimate of $375.54 million. During the same period last year, the firm earned $1.94 EPS. Research analysts anticipate that Axos Financial, Inc will post 9.59 earnings per share for the current year.

Axos Financial Company Profile

Axos Financial, Inc NYSE: AX is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.

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