Bank of America Corp DE Has $18.86 Million Position in Axos Financial, Inc $AX

Bank of America Corp DE boosted its position in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 68.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,656 shares of the company's stock after acquiring an additional 90,086 shares during the period. Bank of America Corp DE owned approximately 0.39% of Axos Financial worth $18,861,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Axos Financial by 0.9% in the first quarter. Royal Bank of Canada now owns 108,986 shares of the company's stock valued at $7,031,000 after purchasing an additional 1,015 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Axos Financial by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company's stock worth $2,099,000 after buying an additional 1,429 shares in the last quarter. United Services Automobile Association bought a new stake in Axos Financial in the 1st quarter valued at $212,000. Cetera Investment Advisers increased its holdings in Axos Financial by 1.8% in the 2nd quarter. Cetera Investment Advisers now owns 8,197 shares of the company's stock valued at $623,000 after buying an additional 141 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Axos Financial in the 2nd quarter valued at $6,252,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Benchmark increased their price target on shares of Axos Financial from $115.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Weiss Ratings upgraded Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 1st. Needham & Company LLC increased their target price on Axos Financial from $110.00 to $128.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Keefe, Bruyette & Woods raised their target price 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 target price on Axos Financial in a research report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $115.67.

Insider Buying and Selling at Axos Financial

In related news, Director Roque A. Santi sold 500 shares of the firm's 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 sale, the director owned 7,146 shares of the company's stock, valued at $752,473.80. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.85% of the stock is currently owned by corporate insiders.

Axos Financial Price Performance

Axos Financial stock opened at $96.14 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $5.47 billion, a P/E ratio of 11.35 and a beta of 1.22. The business's fifty day moving average is $96.92 and its two-hundred day moving average is $92.52. Axos Financial, Inc has a 52 week low of $74.89 and a 52 week high of $105.74.

Axos Financial (NYSE:AX - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, beating analysts' consensus estimates of $2.16 by $0.37. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.The company had revenue of $379.77 million during the quarter, compared to analyst estimates of $375.54 million. During the same period last year, the company posted $1.94 earnings per share. Equities research analysts forecast that Axos Financial, Inc will post 9.59 earnings per share for the current fiscal year.

Axos Financial Company Profile

Axos Financial, Inc NYSE: AX is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.

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