Ategra Capital Management LLC Takes Position in Axos Financial, Inc $AX

Key Points

• Ategra Capital Management initiated a position in Axos Financial, purchasing 113,765 shares valued at approximately $11.1 million. The stake represents about 5% of Ategra’s portfolio and 0.20% of Axos Financial’s outstanding shares.
• Axos Financial reported quarterly earnings of $2.53 per share, beating analysts’ $2.16 estimate, while revenue of $379.77 million also exceeded expectations. The company delivered a 16.96% return on equity and a 22.39% net margin.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $115.67 versus the stock’s reported $96.88 price. Institutional investors own 83.79% of the company, while a director recently sold 500 shares.

Ategra Capital Management LLC bought a new position in shares of Axos Financial, Inc (NYSE:AX - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 113,765 shares of the company's stock, valued at approximately $11,080,000. Axos Financial comprises approximately 5.0% of Ategra Capital Management LLC's portfolio, making the stock its 7th biggest holding. Ategra Capital Management LLC owned 0.20% of Axos Financial as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the business. Cetera Investment Advisers grew its stake in Axos Financial by 0.7% during the 4th quarter. Cetera Investment Advisers now owns 16,547 shares of the company's stock valued at $1,426,000 after purchasing an additional 108 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in Axos Financial by 3.3% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 3,495 shares of the company's stock valued at $301,000 after acquiring an additional 113 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Axos Financial by 0.9% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 14,871 shares of the company's stock valued at $1,281,000 after acquiring an additional 132 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Axos Financial by 7.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,186 shares of the company's stock valued at $188,000 after acquiring an additional 146 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its holdings in Axos Financial by 0.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 17,663 shares of the company's stock worth $1,522,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Axos Financial Trading Up 0.2%

Shares of AX opened at $96.88 on Tuesday. The business's 50-day moving average price is $97.33 and its 200 day moving average price is $92.47. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $5.50 billion, a P/E ratio of 11.44 and a beta of 1.22. Axos Financial, Inc has a 1-year low of $74.89 and a 1-year high of $105.74.

Axos Financial (NYSE:AX - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $2.53 EPS for the quarter, topping the consensus estimate of $2.16 by $0.37. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.The business had revenue of $379.77 million during the quarter, compared to analysts' expectations of $375.54 million. During the same quarter last year, the firm posted $1.94 earnings per share. Analysts expect that Axos Financial, Inc will post 9.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. DA Davidson set a $121.00 price target on shares of Axos Financial in a research report on Friday, July 31st. Weiss Ratings upgraded Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 1st. Benchmark increased their target price on Axos Financial from $115.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Needham & Company LLC lifted their target price on Axos Financial from $110.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, Keefe, Bruyette & Woods boosted their price target on Axos Financial from $105.00 to $110.00 and gave the company a "market perform" rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Axos Financial has an average rating of "Moderate Buy" and a consensus price target of $115.67.

Insider Transactions at Axos Financial

In other Axos Financial news, Director Roque A. Santi sold 500 shares of the firm's stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total transaction of $52,650.00. Following the completion of the sale, the director directly owned 7,146 shares in the company, valued at approximately $752,473.80. This trade represents a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.85% of the company's stock.

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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