Emerald Advisers LLC raised its holdings in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 11.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 533,586 shares of the company's stock after acquiring an additional 54,466 shares during the period. Axos Financial comprises approximately 1.5% of Emerald Advisers LLC's portfolio, making the stock its 16th biggest holding. Emerald Advisers LLC owned about 0.93% of Axos Financial worth $34,427,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of AX. Boston Partners bought a new position in shares of Axos Financial in the fourth quarter worth approximately $29,918,000. Raymond James Financial Inc. bought a new position in shares of Axos Financial in the fourth quarter worth approximately $16,464,000. American Century Companies Inc. grew its holdings in shares of Axos Financial by 9.6% in the fourth quarter. American Century Companies Inc. now owns 1,874,779 shares of the company's stock worth $130,953,000 after purchasing an additional 163,952 shares during the last quarter. Epoch Investment Partners Inc. grew its holdings in shares of Axos Financial by 255.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 199,662 shares of the company's stock worth $13,946,000 after purchasing an additional 143,474 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Axos Financial by 45.8% in the fourth quarter. JPMorgan Chase & Co. now owns 410,590 shares of the company's stock worth $28,680,000 after purchasing an additional 128,932 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on AX shares. Keefe, Bruyette & Woods lifted their price target on shares of Axos Financial from $85.00 to $90.00 and gave the company a "market perform" rating in a report on Friday, July 11th. Needham & Company LLC boosted their price objective on shares of Axos Financial from $88.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Raymond James Financial boosted their price objective on shares of Axos Financial from $72.00 to $90.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. DA Davidson reduced their price objective on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, Jefferies Financial Group started coverage on shares of Axos Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $85.86.
Read Our Latest Stock Analysis on AX
Insider Activity 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 shares were sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the sale, the director owned 113,295 shares in the company, valued at approximately $7,714,256.55. The trade was a 20.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 5.07% of the company's stock.
Axos Financial Stock Up 0.5%
Shares of AX stock traded up $0.42 during mid-day trading on Wednesday, reaching $83.30. 238,693 shares of the company's stock traded hands, compared to its average volume of 463,817. Axos Financial, Inc has a 12 month low of $54.46 and a 12 month high of $88.46. The company has a market cap of $4.70 billion, a P/E ratio of 11.35 and a beta of 1.29. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.19. The company's 50-day moving average price is $74.51 and its 200-day moving average price is $68.98.
Axos Financial (NYSE:AX - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.07. Axos Financial had a net margin of 21.93% and a return on equity of 17.58%. The firm had revenue of $432.72 million for the quarter, compared to analysts' expectations of $305.04 million. During the same quarter in the previous year, the business posted $1.91 EPS. On average, equities analysts expect that Axos Financial, Inc will post 7.22 earnings per share for the current fiscal year.
Axos Financial declared that its Board of Directors has initiated 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 buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.
Axos Financial Company Profile
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Free Report)
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.
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