Charles Schwab Investment Management Inc. Cuts Stock Position in Axos Financial, Inc $AX

Charles Schwab Investment Management Inc. cut its position in Axos Financial, Inc (NYSE:AX - Free Report) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 657,782 shares of the company's stock after selling 13,341 shares during the period. Charles Schwab Investment Management Inc. owned 1.17% of Axos Financial worth $42,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in Axos Financial in the 4th quarter worth approximately $35,000. NewEdge Advisors LLC lifted its position in Axos Financial by 1,700.0% in 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 increased its position 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 worth $118,000 after purchasing an additional 516 shares in the last quarter. Palouse Capital Management Inc. boosted its position 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 period. Finally, Bridgefront Capital LLC acquired a new position in shares of Axos Financial during the fourth quarter worth about $201,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Insider Buying and Selling at Axos Financial

In related news, EVP Andrew J. Micheletti sold 13,960 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the completion of the transaction, the executive vice president owned 67,460 shares of the company's stock, valued at $5,759,734.80. This trade represents a 17.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on AX. DA Davidson lifted their price objective on shares of Axos Financial from $96.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Raymond James Financial reissued an "outperform" rating and set a $95.00 price objective (up previously from $90.00) on shares of Axos Financial in a research report on Thursday, July 31st. Jefferies Financial Group started coverage on shares of Axos Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $90.00 price target on the stock. Needham & Company LLC upped their price target on Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods boosted their price objective on Axos Financial from $90.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Axos Financial currently has an average rating of "Moderate Buy" and a consensus target price of $90.86.

Axos Financial Stock Performance

Shares of NYSE AX traded down $0.6050 during trading hours on Thursday, reaching $85.9950. 101,732 shares of the stock were exchanged, compared to its average volume of 388,102. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 11.53 and a beta of 1.32. Axos Financial, Inc has a 52 week low of $54.46 and a 52 week high of $89.49. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09. The stock's fifty day simple moving average is $82.03 and its 200 day simple moving average is $71.68.

Axos Financial (NYSE:AX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.82 by $0.12. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. The company had revenue of $321.45 million during the quarter, compared to the consensus estimate of $311.73 million. During the same period in the previous year, the firm posted $1.83 earnings per share. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. Sell-side analysts predict that Axos Financial, Inc will post 7.22 EPS for the current year.

Axos Financial declared that its Board of Directors has approved a share buyback program on Monday, May 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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.