Citigroup Inc. Sells 21,817 Shares of AXOS FINANCIAL, INC $AX

Key Points

• Citigroup Inc. reduced its stake in Axos Financial, Inc. by 14.6%, now holding 127,810 shares worth approximately $8.25 million.
• Multiple hedge funds have significantly increased their positions in Axos Financial, with Wealth Enhancement Advisory Services growing its holdings by 94.8% in the first quarter.
• Analysts have set new price targets for Axos Financial, with DA Davidson raising it to $100.00, indicating a generally positive outlook on the stock which has a consensus rating of "Moderate Buy."

Citigroup Inc. trimmed its position in shares of AXOS FINANCIAL, INC (NYSE:AX - Free Report) by 14.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 127,810 shares of the company's stock after selling 21,817 shares during the quarter. Citigroup Inc. owned approximately 0.23% of AXOS FINANCIAL worth $8,246,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Heck Capital Advisors LLC purchased a new position in shares of AXOS FINANCIAL during the fourth quarter valued at approximately $35,000. NewEdge Advisors LLC lifted its holdings 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 purchasing an additional 850 shares during the last quarter. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 516 shares during the last quarter. Palouse Capital Management Inc. lifted its holdings in shares of AXOS FINANCIAL by 37.2% during the first 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. Finally, Bridgefront Capital LLC purchased a new position in shares of AXOS FINANCIAL during the fourth quarter valued at approximately $201,000. 83.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

AX has been the subject of several recent research reports. Raymond James Financial reiterated an "outperform" rating and set a $95.00 target price (up from $90.00) on shares of AXOS FINANCIAL in a report on Thursday, July 31st. Piper Sandler decreased their price objective on shares of AXOS FINANCIAL from $84.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Needham & Company LLC boosted their price objective on shares of AXOS FINANCIAL from $92.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Wall Street Zen upgraded shares of AXOS FINANCIAL from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, DA Davidson boosted their price objective on shares of AXOS FINANCIAL from $96.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, AXOS FINANCIAL has an average rating of "Moderate Buy" and an average price target of $90.86.

AXOS FINANCIAL Stock Performance

AX traded down $0.8080 during mid-day trading on Thursday, reaching $85.7920. 258,228 shares of the company traded hands, compared to its average volume of 360,981. The stock has a market capitalization of $4.84 billion, a P/E ratio of 11.50 and a beta of 1.32. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.17. The company's fifty day moving average price is $82.30 and its 200-day moving average price is $71.80. AXOS FINANCIAL, INC has a 52-week low of $54.46 and a 52-week high of $89.49.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.12. AXOS FINANCIAL had a net margin of 22.24% and a return on equity of 17.11%. The firm had revenue of $321.45 million during the quarter, compared to the consensus estimate of $311.73 million. During the same quarter in the previous year, the firm posted $1.83 EPS. The company's revenue for the quarter was up 10.5% compared to the same quarter last year. On average, sell-side analysts expect that AXOS FINANCIAL, INC will post 7.22 EPS for the current year.

AXOS FINANCIAL declared that its Board of Directors has authorized a stock repurchase program on Monday, May 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy 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 stock is undervalued.

Insider Activity

In other news, EVP Andrew J. Micheletti sold 13,960 shares of the business's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the completion of the sale, the executive vice president owned 67,460 shares of the company's stock, valued at $5,759,734.80. The trade was a 17.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.07% of the stock is currently owned by insiders.

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.