Cerity Partners LLC Has $677,000 Stock Position in AXOS FINANCIAL, INC (NYSE:AX)

Cerity Partners LLC trimmed its holdings in AXOS FINANCIAL, INC (NYSE:AX - Free Report) by 26.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,490 shares of the company's stock after selling 3,851 shares during the quarter. Cerity Partners LLC's holdings in AXOS FINANCIAL were worth $677,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Heck Capital Advisors LLC purchased a new position in AXOS FINANCIAL in the fourth quarter worth $35,000. NewEdge Advisors LLC boosted its stake in shares of AXOS FINANCIAL by 1,700.0% during the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after acquiring an additional 850 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of AXOS FINANCIAL by 39.2% during the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock valued at $118,000 after acquiring an additional 516 shares during the last quarter. Covestor Ltd boosted its stake in shares of AXOS FINANCIAL by 24.1% during the fourth quarter. Covestor Ltd now owns 2,274 shares of the company's stock valued at $158,000 after acquiring an additional 442 shares during the last quarter. Finally, Palouse Capital Management Inc. boosted its stake in AXOS FINANCIAL by 37.2% in the 1st quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock worth $171,000 after buying an additional 718 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AX has been the topic of a number of research analyst reports. Needham & Company LLC raised their price target on AXOS FINANCIAL from $88.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, July 2nd. Piper Sandler reduced their price objective on AXOS FINANCIAL from $84.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Wall Street Zen downgraded AXOS FINANCIAL from a "hold" rating to a "sell" rating in a report on Saturday, July 5th. DA Davidson dropped their price objective on AXOS FINANCIAL from $88.00 to $84.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Jefferies Financial Group assumed coverage on AXOS FINANCIAL in a report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $85.86.

AXOS FINANCIAL Stock Performance

NYSE:AX traded up $0.07 during midday trading on Friday, reaching $84.60. 304,256 shares of the company traded hands, compared to its average volume of 357,155. AXOS FINANCIAL, INC has a twelve month low of $54.46 and a twelve month high of $88.46. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 11.53 and a beta of 1.29. 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 fifty day moving average price of $76.18 and a 200 day moving average price of $69.61.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.07. AXOS FINANCIAL had a return on equity of 17.58% and a net margin of 21.93%. The company 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 firm posted $1.91 EPS. On average, analysts expect that AXOS FINANCIAL, INC will post 7.22 EPS for the current fiscal year.

AXOS FINANCIAL announced that its board has approved a share buyback program on Monday, May 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

Insider Transactions at AXOS FINANCIAL

In other news, Director Paul Grinberg sold 30,000 shares of the business's stock in a transaction on Monday, May 5th. The stock was 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 approximately $7,714,256.55. The trade was a 20.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company 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.