BI Asset Management Fondsmaeglerselskab A S Has $153,000 Stock Position in 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 reduced its holdings in AXOS FINANCIAL, INC (NYSE:AX - Free Report) by 83.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,374 shares of the company's stock after selling 11,674 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in AXOS FINANCIAL were worth $153,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of AXOS FINANCIAL by 94.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the company's stock valued at $517,000 after acquiring an additional 3,901 shares during the period. NewEdge Advisors LLC boosted its stake in AXOS FINANCIAL by 1,700.0% during the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after purchasing an additional 850 shares in the last quarter. GAMMA Investing LLC increased its position in shares of AXOS FINANCIAL by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock valued at $118,000 after purchasing an additional 516 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of AXOS FINANCIAL by 16.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 50,402 shares of the company's stock worth $3,252,000 after buying an additional 6,957 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of AXOS FINANCIAL in the first quarter valued at $750,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Wall Street Analysts Forecast Growth

AX has been the subject of several analyst reports. Needham & Company LLC upped their target price on AXOS FINANCIAL from $92.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Keefe, Bruyette & Woods upped their price objective 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. Wall Street Zen upgraded shares of AXOS FINANCIAL from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Jefferies Financial Group started coverage on shares of AXOS FINANCIAL in a report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price target on the stock. Finally, DA Davidson upped their price target on shares of AXOS FINANCIAL from $96.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.86.

AXOS FINANCIAL Stock Down 0.3%

AX traded down $0.26 on Friday, reaching $91.09. 212,601 shares of the company traded hands, compared to its average volume of 343,566. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 12.21 and a beta of 1.32. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.09 and a quick ratio of 1.09. The stock's 50 day moving average price is $84.77 and its 200-day moving average price is $72.60. AXOS FINANCIAL, INC has a 52-week low of $54.46 and a 52-week high of $92.99.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.12. AXOS FINANCIAL had a return on equity of 17.11% and a net margin of 22.24%.The company had revenue of $321.45 million for the quarter, compared to analyst estimates of $311.73 million. During the same period in the prior year, the firm posted $1.83 EPS. The business's revenue was up 10.5% compared to the same quarter last year. On average, sell-side analysts expect that AXOS FINANCIAL, INC will post 7.22 EPS for the current fiscal year.

AXOS FINANCIAL announced that its Board of Directors has authorized a stock repurchase plan on Monday, May 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other AXOS FINANCIAL news, EVP Andrew J. Micheletti sold 13,960 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was 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 $5,759,734.80. This represents a 17.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.07% of the company's stock.

About AXOS FINANCIAL

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.