Bank of New York Mellon Corp Sells 16,737 Shares of AXOS FINANCIAL, INC (NYSE:AX)

Bank of New York Mellon Corp trimmed its stake in shares of AXOS FINANCIAL, INC (NYSE:AX - Free Report) by 4.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 394,144 shares of the company's stock after selling 16,737 shares during the quarter. Bank of New York Mellon Corp owned 0.69% of AXOS FINANCIAL worth $25,430,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Heck Capital Advisors LLC purchased a new stake in shares of AXOS FINANCIAL in the 4th quarter valued at about $35,000. NewEdge Advisors LLC lifted its holdings in shares of AXOS FINANCIAL by 1,700.0% in 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 during the last quarter. GAMMA Investing LLC lifted its holdings in shares of AXOS FINANCIAL by 39.2% in 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 last quarter. Covestor Ltd lifted its holdings in shares of AXOS FINANCIAL by 24.1% in the 4th quarter. Covestor Ltd now owns 2,274 shares of the company's stock valued at $158,000 after purchasing an additional 442 shares during the last quarter. Finally, Palouse Capital Management Inc. lifted its holdings in shares of AXOS FINANCIAL by 37.2% in the 1st quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock valued at $171,000 after purchasing an additional 718 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen downgraded AXOS FINANCIAL from a "hold" rating to a "sell" rating in a research note on Saturday, July 5th. Piper Sandler cut their target price on AXOS FINANCIAL from $84.00 to $80.00 and set an "overweight" rating for the company in a research note on Thursday, May 1st. DA Davidson cut their target price on AXOS FINANCIAL from $88.00 to $84.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Jefferies Financial Group assumed coverage on AXOS FINANCIAL in a research note on Wednesday, May 21st. They set a "buy" rating and a $90.00 target price for the company. Finally, Needham & Company LLC increased their target price on AXOS FINANCIAL from $88.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, AXOS FINANCIAL currently has a consensus rating of "Moderate Buy" and an average target price 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 dated Monday, May 5th. The shares were sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the transaction, the director owned 113,295 shares in the company, valued at approximately $7,714,256.55. The trade was a 20.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.07% of the stock is currently owned by corporate insiders.

AXOS FINANCIAL Trading Down 0.1%

NYSE AX traded down $0.09 on Friday, hitting $85.47. 286,741 shares of the stock were exchanged, compared to its average volume of 459,863. AXOS FINANCIAL, INC has a 52-week low of $54.46 and a 52-week high of $88.46. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 11.64 and a beta of 1.29. The company's 50-day moving average price is $75.18 and its two-hundred day moving average price is $69.19.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.07. AXOS FINANCIAL had a net margin of 21.93% and a return on equity of 17.58%. The business had revenue of $432.72 million during the quarter, compared to analyst estimates of $305.04 million. During the same quarter in the previous year, the business earned $1.91 EPS. Research analysts predict that AXOS FINANCIAL, INC will post 7.22 EPS for the current year.

AXOS FINANCIAL announced that its board has authorized a share buyback plan on Monday, May 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

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.