Corient Private Wealth LP Makes New $1.72 Million Investment in Axos Financial, Inc $AX

Key Points

• Corient Private Wealth LP initiated a $1.72 million position in Axos Financial by purchasing 17,674 shares during the second quarter. Institutional investors and hedge funds collectively own 83.79% of the company.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $115.67. Several firms recently raised their targets, including Needham to $128 and Benchmark to $120.
• Axos Financial exceeded quarterly expectations, reporting $2.53 in earnings per share versus the $2.16 consensus estimate and revenue of $379.77 million. Shares recently opened at $97.03, with a one-year trading range of $74.89 to $105.74.

Corient Private Wealth LP purchased a new position in shares of Axos Financial, Inc (NYSE:AX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,674 shares of the company's stock, valued at approximately $1,721,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AX. Cetera Investment Advisers increased its position in Axos Financial by 0.7% during the fourth quarter. Cetera Investment Advisers now owns 16,547 shares of the company's stock worth $1,426,000 after purchasing an additional 108 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in Axos Financial by 0.9% in the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 14,871 shares of the company's stock valued at $1,281,000 after purchasing an additional 132 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Axos Financial by 7.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,186 shares of the company's stock valued at $188,000 after purchasing an additional 146 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its stake in shares of Axos Financial by 0.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 17,663 shares of the company's stock valued at $1,522,000 after buying an additional 146 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Axos Financial by 6.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,427 shares of the company's stock valued at $236,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 83.79% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AX shares. Weiss Ratings raised shares of Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 1st. Needham & Company LLC increased their price objective on Axos Financial from $110.00 to $128.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Keefe, Bruyette & Woods raised their target price on Axos Financial from $105.00 to $110.00 and gave the stock a "market perform" rating in a research note on Friday, July 31st. Benchmark lifted their target price on Axos Financial from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Finally, DA Davidson set a $121.00 price target on Axos Financial in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $115.67.

Axos Financial Price Performance

Axos Financial stock opened at $97.03 on Friday. The company's 50 day simple moving average is $98.40 and its 200-day simple moving average is $92.44. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of 11.46 and a beta of 1.22. Axos Financial, Inc has a 1 year low of $74.89 and a 1 year high of $105.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.07 and a current ratio of 1.07.

Axos Financial (NYSE:AX - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, topping analysts' consensus estimates of $2.16 by $0.37. Axos Financial had a net margin of 22.39% and a return on equity of 16.96%. The firm had revenue of $379.77 million during the quarter, compared to analysts' expectations of $375.54 million. During the same quarter last year, the company posted $1.94 EPS. As a group, equities research analysts expect that Axos Financial, Inc will post 9.59 earnings per share for the current year.

Insider Buying and Selling at Axos Financial

In related news, Director Roque Santi sold 500 shares of the business's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total value of $52,650.00. Following the sale, the director owned 7,146 shares in the company, valued at approximately $752,473.80. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.85% of the company's stock.

Axos Financial Company Profile

Axos Financial, Inc NYSE: AX is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.

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