Allspring Global Investments Holdings LLC Sells 13,286 Shares of Axos Financial, Inc (NYSE:AX)

Allspring Global Investments Holdings LLC lessened its holdings in Axos Financial, Inc (NYSE:AX - Free Report) by 10.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 119,286 shares of the company's stock after selling 13,286 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.21% of Axos Financial worth $7,678,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. SummerHaven Investment Management LLC boosted its stake in shares of Axos Financial by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 13,386 shares of the company's stock valued at $864,000 after purchasing an additional 206 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Axos Financial by 1.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 15,844 shares of the company's stock valued at $1,022,000 after purchasing an additional 223 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Axos Financial by 3.4% in the 4th quarter. Stifel Financial Corp now owns 7,310 shares of the company's stock valued at $511,000 after purchasing an additional 241 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of Axos Financial by 4.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,717 shares of the company's stock valued at $399,000 after purchasing an additional 254 shares during the last quarter. Finally, Hancock Whitney Corp boosted its stake in shares of Axos Financial by 2.5% in the 4th quarter. Hancock Whitney Corp now owns 11,202 shares of the company's stock valued at $782,000 after purchasing an additional 271 shares during the last quarter. Institutional investors own 83.79% of the company's stock.

Axos Financial Stock Up 1.5%

AX traded up $1.26 during trading on Tuesday, reaching $84.26. The company had a trading volume of 415,017 shares, compared to its average volume of 473,490. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.09 and a quick ratio of 1.09. Axos Financial, Inc has a 12 month low of $54.46 and a 12 month high of $88.46. The business's fifty day moving average price is $72.39 and its 200 day moving average price is $68.45. The company has a market cap of $4.75 billion, a P/E ratio of 11.48 and a beta of 1.29.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share for the quarter, beating analysts' consensus estimates of $1.74 by $0.07. Axos Financial had a net margin of 21.93% and a return on equity of 17.58%. The firm had revenue of $432.72 million for the quarter, compared to analyst estimates of $305.04 million. During the same quarter in the previous year, the firm posted $1.91 earnings per share. Equities analysts anticipate that Axos Financial, Inc will post 7.22 EPS for the current year.

Axos Financial announced that its Board of Directors has approved a share buyback program on Monday, May 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. DA Davidson reduced their price objective on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Raymond James Financial lifted their price objective on shares of Axos Financial from $72.00 to $90.00 and gave the stock an "outperform" rating in a research note on Tuesday. Needham & Company LLC lifted their price objective on shares of Axos Financial from $88.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Jefferies Financial Group assumed coverage on shares of Axos Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective on the stock. Finally, Piper Sandler reduced their price objective on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $85.86.

Insiders Place Their Bets

In other news, Director Paul Grinberg sold 30,000 shares of the business's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $68.09, for a total value of $2,042,700.00. Following the sale, the director owned 113,295 shares of the company's stock, valued at $7,714,256.55. The trade was a 20.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.07% of the company's stock.

Axos Financial 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.