Axos Financial, Inc $AX Shares Newly Purchased by B. Riley Wealth Advisors Inc.

Key Points

• B. Riley Wealth Advisors acquired 43,475 shares of Axos Financial in the third quarter, valued at approximately $3.76 million. Institutional investors collectively own 83.79% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $115.67; recent firms raised targets as high as $128.
• Axos Financial exceeded quarterly expectations, reporting $2.53 in EPS and $379.77 million in revenue, while shares opened at $88.49, down 0.5%.

B. Riley Wealth Advisors Inc. acquired a new position in shares of Axos Financial, Inc (NYSE:AX - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 43,475 shares of the company's stock, valued at approximately $3,764,000. B. Riley Wealth Advisors Inc. owned about 0.08% of Axos Financial at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AX. BlackRock Inc. purchased a new stake in shares of Axos Financial in the 2nd quarter valued at approximately $817,051,000. Dimensional Fund Advisors LP raised its position in shares of Axos Financial by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,177,003 shares of the company's stock valued at $185,234,000 after buying an additional 7,509 shares during the period. Davis Asset Management L.P. acquired a new position in Axos Financial in the second quarter valued at approximately $149,515,000. Allspring Global Investments Holdings LLC lifted its holdings in Axos Financial by 38.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 432,739 shares of the company's stock valued at $37,203,000 after acquiring an additional 119,523 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Axos Financial in the second quarter valued at approximately $36,816,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AX has been the topic of a number of research analyst reports. Weiss Ratings upgraded Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday. Needham & Company LLC reaffirmed a "buy" rating and issued a $128.00 price target on shares of Axos Financial in a research note on Monday, October 5th. Benchmark increased their price target on Axos Financial from $115.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Keefe, Bruyette & Woods raised their price objective on Axos Financial from $105.00 to $110.00 and gave the stock a "market perform" rating in a research report on Friday, July 31st. Finally, DA Davidson set a $121.00 price objective on Axos Financial in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $115.67.

Insider Activity at Axos Financial

In related news, Director Roque Santi sold 500 shares of Axos Financial stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.30, for a total value of $52,650.00. Following the completion of the transaction, the director owned 7,146 shares in the company, valued at approximately $752,473.80. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.30% of the company's stock.

Axos Financial Stock Down 0.5%

Shares of NYSE AX opened at $88.49 on Wednesday. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 10.45 and a beta of 1.28. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. Axos Financial, Inc has a 52-week low of $74.89 and a 52-week high of $105.74. The business's 50 day moving average is $94.09 and its two-hundred day moving average is $92.79.

Axos Financial (NYSE:AX - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.37. The company had revenue of $379.77 million during the quarter, compared to the consensus estimate of $375.54 million. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%. During the same period in the previous year, the company posted $1.94 EPS. Research analysts predict that Axos Financial, Inc will post 9.69 EPS for the current year.

Axos Financial Company Profile

Axos Financial, Inc is the holding company for Axos Bank, a nationwide digital bank that provides banking and financial services to consumers and businesses. The company operates primarily through online and mobile platforms, allowing it to serve customers across the United States without relying on a traditional branch network.

Axos Bank offers personal banking products such as checking and savings accounts, certificates of deposit, mortgages, personal loans and other consumer lending products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.