Bank of New York Mellon Corp Invests $36.82 Million in Axos Financial, Inc $AX

Key Points

• Bank of New York Mellon acquired 378,027 Axos Financial shares worth approximately $36.82 million, giving it a 0.66% stake. Institutional investors collectively own 83.79% of the company.
• Axos Financial exceeded quarterly expectations, reporting $2.53 in EPS versus the $2.16 consensus estimate and $379.77 million in revenue. Analysts project $9.59 in full-year EPS.
• Wall Street maintains a favorable outlook, with a consensus rating of “Moderate Buy” and an average price target of $115.67, above the reported share price of $97.83.

Bank of New York Mellon Corp acquired a new stake in Axos Financial, Inc (NYSE:AX - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 378,027 shares of the company's stock, valued at approximately $36,816,000. Bank of New York Mellon Corp owned 0.66% of Axos Financial as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Jackson Creek Investment Advisors LLC grew its holdings in Axos Financial by 714.0% during the fourth quarter. Jackson Creek Investment Advisors LLC now owns 20,725 shares of the company's stock worth $1,786,000 after acquiring an additional 18,179 shares during the period. Kennedy Capital Management LLC raised its position in Axos Financial by 12.3% in the fourth quarter. Kennedy Capital Management LLC now owns 308,935 shares of the company's stock worth $26,618,000 after acquiring an additional 33,854 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Axos Financial by 4.9% in the first quarter. Principal Financial Group Inc. now owns 353,951 shares of the company's stock valued at $30,118,000 after acquiring an additional 16,627 shares during the period. Geode Capital Management LLC lifted its holdings in Axos Financial by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 1,775,539 shares of the company's stock valued at $154,687,000 after acquiring an additional 62,269 shares during the period. Finally, Stieven Capital Advisors L.P. boosted its position in shares of Axos Financial by 8.0% during the 4th quarter. Stieven Capital Advisors L.P. now owns 255,859 shares of the company's stock worth $22,045,000 after purchasing an additional 18,900 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Axos Financial Trading Up 0.5%

Shares of Axos Financial stock opened at $97.83 on Friday. Axos Financial, Inc has a fifty-two week low of $74.89 and a fifty-two week high of $105.74. The business's fifty day moving average is $98.10 and its two-hundred day moving average is $92.48. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. The firm has a market cap of $5.55 billion, a PE ratio of 11.55 and a beta of 1.22.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.53 EPS for the quarter, beating analysts' consensus estimates of $2.16 by $0.37. The business had revenue of $379.77 million during the quarter, compared to the consensus estimate of $375.54 million. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.During the same quarter in the previous year, the business earned $1.94 earnings per share. Analysts anticipate that Axos Financial, Inc will post 9.59 earnings per share for the current year.

Insider Transactions at Axos Financial

In other Axos Financial news, Director Roque A. Santi sold 500 shares of Axos Financial stock in a transaction dated Wednesday, August 5th. The stock was 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 in the company, valued at $752,473.80. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AX. DA Davidson set a $121.00 price target on shares of Axos Financial in a research note on Friday, July 31st. Needham & Company LLC raised their price objective on shares of Axos Financial from $110.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Benchmark boosted their price objective on shares of Axos Financial from $115.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Weiss Ratings raised shares of Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods upped their target price on shares of Axos Financial from $105.00 to $110.00 and gave the stock a "market perform" rating 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $115.67.

About Axos Financial

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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