Charles Schwab Investment Management Inc. Lowers Stock Holdings in Axos Financial, Inc $AX

Charles Schwab Investment Management Inc. lowered its position in Axos Financial, Inc (NYSE:AX - Free Report) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 approximately 1.17% of Axos Financial worth $42,440,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Northern Trust Corp boosted its position in Axos Financial by 4.7% in the 4th quarter. Northern Trust Corp now owns 742,837 shares of the company's stock worth $51,887,000 after purchasing an additional 33,207 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Axos Financial by 8.7% during the 4th quarter. Ameriprise Financial Inc. now owns 677,546 shares of the company's stock valued at $47,330,000 after buying an additional 54,238 shares in the last quarter. Emerald Advisers LLC lifted its position in shares of Axos Financial by 11.4% during the 1st quarter. Emerald Advisers LLC now owns 533,586 shares of the company's stock valued at $34,427,000 after buying an additional 54,466 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Axos Financial by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 347,799 shares of the company's stock valued at $22,440,000 after buying an additional 9,881 shares in the last quarter. Finally, Stieven Capital Advisors L.P. lifted its position in shares of Axos Financial by 20.4% during the 1st quarter. Stieven Capital Advisors L.P. now owns 283,759 shares of the company's stock valued at $18,308,000 after buying an additional 48,100 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on AX shares. Keefe, Bruyette & Woods increased their price objective on Axos Financial from $90.00 to $94.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Raymond James Financial reissued an "outperform" rating and issued a $95.00 price objective (up from $90.00) on shares of Axos Financial in a research note on Thursday, July 31st. Jefferies Financial Group started coverage on Axos Financial in a research note on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price objective for the company. Wall Street Zen raised Axos Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, Needham & Company LLC increased their price objective on Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $90.86.

Axos Financial Trading Up 5.3%

Shares of AX traded up $4.55 during midday trading on Friday, reaching $90.38. The company had a trading volume of 103,199 shares, compared to its average volume of 387,218. Axos Financial, Inc has a 1-year low of $54.46 and a 1-year high of $90.49. The stock has a market cap of $5.09 billion, a PE ratio of 12.14 and a beta of 1.32. The firm has a 50 day simple moving average of $82.30 and a 200-day simple moving average of $71.80. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.17.

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

Axos Financial declared that its board has authorized a share repurchase program on Monday, May 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at Axos Financial

In other news, EVP Andrew J. Micheletti sold 13,960 shares of the stock in a transaction 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 directly owned 67,460 shares in the company, valued at approximately $5,759,734.80. This represents a 17.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.07% of the company's stock.

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.