Northern Trust Corp Sells 12,702 Shares of Axos Financial, Inc $AX

Key Points

• Northern Trust Corp has reduced its stake in AXOS FINANCIAL, INC by 1.7%, now holding approximately 1.30% of the company valued at $47.1 million.
• Several large investors, including American Century Companies Inc. and Boston Partners, have increased their positions in AXOS FINANCIAL, with institutional ownership now at 83.79%.
• AXOS FINANCIAL recently reported earnings of $1.94 per share, beating estimates, and the consensus rating among analysts is a Moderate Buy with an average target price of $90.86.

Northern Trust Corp lowered its stake in Axos Financial, Inc (NYSE:AX - Free Report) by 1.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 730,135 shares of the company's stock after selling 12,702 shares during the period. Northern Trust Corp owned 1.30% of Axos Financial worth $47,108,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AX. Mariner LLC lifted its holdings in shares of Axos Financial by 9.3% during the 4th quarter. Mariner LLC now owns 6,403 shares of the company's stock valued at $447,000 after buying an additional 545 shares during the period. NewEdge Advisors LLC increased its stake in Axos Financial by 1,700.0% in the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after buying an additional 850 shares in the last quarter. State of Tennessee Department of Treasury increased its stake in Axos Financial by 79.6% in the 4th quarter. State of Tennessee Department of Treasury now owns 23,889 shares of the company's stock worth $1,669,000 after buying an additional 10,586 shares in the last quarter. Stifel Financial Corp increased its stake in Axos Financial by 3.4% in the 4th quarter. Stifel Financial Corp now owns 7,310 shares of the company's stock worth $511,000 after buying an additional 241 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Axos Financial by 11.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 39,075 shares of the company's stock worth $2,730,000 after buying an additional 3,861 shares in the last quarter. 83.79% of the stock is owned by institutional investors.

Axos Financial Trading Down 0.3%

NYSE AX traded down $0.26 during trading on Monday, hitting $91.09. The stock had a trading volume of 212,601 shares, compared to its average volume of 327,321. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 12.21 and a beta of 1.32. Axos Financial, Inc has a one year low of $54.46 and a one year high of $92.99. The stock has a 50 day simple moving average of $84.77 and a 200 day simple moving average of $72.62.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.12. The business had revenue of $321.45 million during the quarter, compared to the consensus estimate of $311.73 million. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. The firm's quarterly revenue was up 10.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.83 earnings per share. Sell-side analysts predict that Axos Financial, Inc will post 7.22 earnings per share for the current year.

Axos Financial announced that its board has authorized a stock buyback plan on Monday, May 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 2.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Insider Transactions at Axos Financial

In other news, EVP Andrew J. Micheletti sold 13,960 shares of Axos Financial stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the completion of the sale, the executive vice president owned 67,460 shares of the company's stock, valued at approximately $5,759,734.80. The trade was a 17.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 5.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

AX has been the subject of a number of analyst reports. Raymond James Financial reiterated an "outperform" rating and issued a $95.00 price target (up previously from $90.00) on shares of Axos Financial in a research note on Thursday, July 31st. DA Davidson raised their price objective on Axos Financial from $96.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Needham & Company LLC raised their price objective on Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded Axos Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods raised their price objective on Axos Financial from $90.00 to $94.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Axos Financial presently has an average rating of "Moderate Buy" and an average target price of $90.86.

Axos Financial Company Profile

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.