BI Asset Management Fondsmaeglerselskab A S Sells 11,674 Shares of Axos Financial, Inc $AX

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly reduced its stake in Axos Financial, selling 11,674 shares—an 83.1% decrease—now holding 2,374 shares valued at approximately $153,000.
• Several institutional investors have increased their stakes in Axos Financial, with Wealth Enhancement Advisory Services LLC raising its holdings by 94.8% to 8,017 shares, valued at $517,000 as of the first quarter.
• Axos Financial reported quarterly earnings of $1.94 per share, exceeding analyst estimates, and saw a revenue increase of 10.5% year-over-year, totaling $321.45 million.

BI Asset Management Fondsmaeglerselskab A S cut its holdings in Axos Financial, Inc (NYSE:AX - Free Report) by 83.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,374 shares of the company's stock after selling 11,674 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Axos Financial were worth $153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AX. Heck Capital Advisors LLC purchased a new stake in shares of Axos Financial in the fourth quarter worth $35,000. NewEdge Advisors LLC increased its stake in shares of Axos Financial by 1,700.0% in the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after purchasing an additional 850 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Axos Financial by 39.2% in the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock worth $118,000 after purchasing an additional 516 shares in the last quarter. Palouse Capital Management Inc. increased its stake in shares of Axos Financial by 37.2% in the first quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock worth $171,000 after purchasing an additional 718 shares in the last quarter. Finally, Bridgefront Capital LLC purchased a new stake in shares of Axos Financial in the fourth quarter worth $201,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AX shares. Needham & Company LLC increased their price objective on shares of Axos Financial from $92.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of Axos Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Raymond James Financial reaffirmed an "outperform" rating and set a $95.00 target price (up from $90.00) on shares of Axos Financial in a research note on Thursday, July 31st. Piper Sandler cut their target price on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. Finally, Keefe, Bruyette & Woods raised their target price on shares of Axos Financial from $90.00 to $94.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.86.

Axos Financial Price Performance

Shares of NYSE:AX traded down $0.94 on Thursday, reaching $91.38. The company's stock had a trading volume of 280,392 shares, compared to its average volume of 388,950. Axos Financial, Inc has a 52-week low of $54.46 and a 52-week high of $92.99. The company has a market cap of $5.16 billion, a P/E ratio of 12.25 and a beta of 1.32. The company has a 50-day simple moving average of $83.98 and a 200 day simple moving average of $72.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09.

Axos Financial (NYSE:AX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.12. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. The business had revenue of $321.45 million during the quarter, compared to analysts' expectations of $311.73 million. During the same period last year, the company posted $1.83 EPS. The business's revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts anticipate that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Axos Financial announced that its board has initiated a stock buyback program on Monday, May 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

Insider Activity

In other news, EVP Andrew J. Micheletti sold 13,960 shares of the firm's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $85.38, for a total value of $1,191,904.80. Following the completion of the sale, the executive vice president owned 67,460 shares in the company, valued at approximately $5,759,734.80. This trade represents a 17.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.07% of the company's stock.

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.