Allspring Global Investments Holdings LLC Acquires 55,373 Shares of Axos Financial, Inc $AX

Key Points

• Allspring Global Investments increased its stake in Axos Financial by 21.5%, purchasing 55,373 shares to hold 313,216 shares total—about a 0.55% stake valued at roughly $27.37 million.
• Axos reported strong quarterly results, with EPS of $2.25 (vs. $2.07 est.) and revenue of $385.09 million (vs. $345.89 million), marking a 25.1% year-over-year revenue increase.
• Insiders have been selling: CEO Gregory Garrabrants sold 43,294 shares at an average $99.10 (~$4.29M) and, overall, insiders sold 59,303 shares (~$5.91M) in the past 90 days, while insiders still own 4.85% of the company.

Allspring Global Investments Holdings LLC boosted its holdings in Axos Financial, Inc (NYSE:AX - Free Report) by 21.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 313,216 shares of the company's stock after buying an additional 55,373 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.55% of Axos Financial worth $27,369,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Royal Bank of Canada raised its holdings in Axos Financial by 0.9% in the 1st quarter. Royal Bank of Canada now owns 108,986 shares of the company's stock valued at $7,031,000 after acquiring an additional 1,015 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Axos Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company's stock worth $2,099,000 after acquiring an additional 1,429 shares during the period. United Services Automobile Association acquired a new stake in shares of Axos Financial during the 1st quarter valued at about $212,000. Cetera Investment Advisers boosted its position in shares of Axos Financial by 1.8% during the 2nd quarter. Cetera Investment Advisers now owns 8,197 shares of the company's stock valued at $623,000 after acquiring an additional 141 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in Axos Financial by 49.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 3,709 shares of the company's stock valued at $282,000 after acquiring an additional 1,227 shares during the period. 83.79% of the stock is owned by institutional investors.

Axos Financial Stock Up 0.2%

Shares of AX stock opened at $85.52 on Friday. The firm's fifty day moving average price is $90.60 and its two-hundred day moving average price is $86.82. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. Axos Financial, Inc has a 1 year low of $54.46 and a 1 year high of $101.92. The firm has a market capitalization of $4.85 billion, a P/E ratio of 10.84 and a beta of 1.26.

Axos Financial (NYSE:AX - Get Free Report) last released its earnings results on Thursday, January 29th. The company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.18. The business had revenue of $385.09 million for the quarter, compared to analyst estimates of $345.89 million. Axos Financial had a return on equity of 16.98% and a net margin of 22.66%.Axos Financial's revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.82 earnings per share. On average, equities analysts predict that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Insider Activity at Axos Financial

In other news, CEO Gregory Garrabrants sold 43,294 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $99.10, for a total value of $4,290,435.40. Following the completion of the sale, the chief executive officer directly owned 1,418,751 shares of the company's stock, valued at $140,598,224.10. This trade represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director James John Court sold 11,163 shares of Axos Financial stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $101.01, for a total value of $1,127,574.63. Following the transaction, the director owned 32,169 shares of the company's stock, valued at $3,249,390.69. This represents a 25.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 59,303 shares of company stock worth $5,908,474. Insiders own 4.85% of the company's stock.

Wall Street Analysts Forecast Growth

AX has been the topic of a number of analyst reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Axos Financial in a research report on Monday, December 29th. Zacks Research raised Axos Financial from a "hold" rating to a "strong-buy" rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods boosted their target price on shares of Axos Financial from $100.00 to $110.00 and gave the company a "market perform" rating in a research note on Friday, January 30th. Needham & Company LLC reaffirmed a "buy" rating and issued a $110.00 target price on shares of Axos Financial in a report on Monday, March 16th. Finally, Jefferies Financial Group lifted their price target on shares of Axos Financial from $110.00 to $115.00 and gave the company a "buy" rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Axos Financial currently has a consensus rating of "Buy" and an average target price of $104.50.

Axos Financial 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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