B. Riley Wealth Advisors Inc. Cuts Stock Holdings in Axos Financial, Inc. (NYSE:AX)

B. Riley Wealth Advisors Inc. cut its position in Axos Financial, Inc. (NYSE:AX - Free Report) by 71.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,828 shares of the company's stock after selling 31,542 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Axos Financial were worth $896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Axos Financial by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 6,129,602 shares of the company's stock worth $428,153,000 after acquiring an additional 49,695 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Axos Financial by 9.6% during the fourth quarter. American Century Companies Inc. now owns 1,874,779 shares of the company's stock worth $130,953,000 after acquiring an additional 163,952 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Axos Financial by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 1,488,259 shares of the company's stock worth $103,975,000 after acquiring an additional 43,503 shares during the last quarter. Northern Trust Corp boosted its position in shares of Axos Financial by 4.7% during the fourth quarter. Northern Trust Corp now owns 742,837 shares of the company's stock worth $51,887,000 after acquiring an additional 33,207 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Axos Financial by 8.7% during the fourth quarter. Ameriprise Financial Inc. now owns 677,546 shares of the company's stock worth $47,330,000 after acquiring an additional 54,238 shares during the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on AX. DA Davidson lowered their price objective on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Raymond James reiterated an "outperform" rating and set a $72.00 price objective (down previously from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and set a $88.00 price objective on shares of Axos Financial in a research report on Thursday, May 1st. Piper Sandler lowered their price objective on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Jefferies Financial Group began coverage on shares of Axos Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $82.71.

Insider Transactions at Axos Financial

In related news, Director Sara Wardell-Smith purchased 3,000 shares of Axos Financial stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average price of $64.73 per share, with a total value of $194,190.00. Following the purchase, the director now directly owns 10,250 shares of the company's stock, valued at approximately $663,482.50. This represents a 41.38% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Grinberg sold 30,000 shares of the firm's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the completion of the transaction, the director now directly owns 113,295 shares in the company, valued at $7,714,256.55. This represents a 20.94% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.07% of the company's stock.

Axos Financial Trading Down 1.5%

Shares of Axos Financial stock traded down $1.08 during trading on Friday, hitting $69.57. The stock had a trading volume of 432,697 shares, compared to its average volume of 509,860. The firm's fifty day simple moving average is $64.95 and its 200-day simple moving average is $69.54. The stock has a market cap of $3.92 billion, a PE ratio of 9.35 and a beta of 1.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.09 and a quick ratio of 1.09. Axos Financial, Inc. has a 12 month low of $44.10 and a 12 month high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.07. The firm had revenue of $432.72 million during the quarter, compared to analyst estimates of $305.04 million. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. During the same quarter last year, the business earned $1.91 EPS. As a group, sell-side analysts expect that Axos Financial, Inc. will post 7.22 EPS for the current fiscal year.

Axos Financial declared that its board has approved a stock buyback program on Monday, May 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

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.