Empirical Finance LLC Sells 25,434 Shares of Axos Financial, Inc $AX

Key Points

• Empirical Finance reduced its Axos Financial stake by 14.3%, selling 25,434 shares during the second quarter and retaining 152,847 shares valued at approximately $14.9 million.
• Axos Financial reported quarterly EPS of $2.53, exceeding the $2.16 consensus estimate, while revenue of $379.77 million also topped expectations. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $115.67.
• Institutional investors own 83.79% of Axos Financial, and the stock recently traded at $96.65, with a market capitalization of approximately $5.48 billion.

Empirical Finance LLC cut its holdings in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 14.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 152,847 shares of the company's stock after selling 25,434 shares during the quarter. Axos Financial makes up about 0.6% of Empirical Finance LLC's investment portfolio, making the stock its 29th biggest position. Empirical Finance LLC owned about 0.27% of Axos Financial worth $14,886,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada raised its stake in Axos Financial by 0.9% during the 1st quarter. Royal Bank of Canada now owns 108,986 shares of the company's stock valued at $7,031,000 after purchasing an additional 1,015 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Axos Financial by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company's stock valued at $2,099,000 after buying an additional 1,429 shares in the last quarter. United Services Automobile Association purchased a new stake in Axos Financial during the 1st quarter valued at approximately $212,000. Cetera Investment Advisers raised its position in shares of Axos Financial by 1.8% during the second quarter. Cetera Investment Advisers now owns 8,197 shares of the company's stock valued at $623,000 after buying an additional 141 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Axos Financial during the second quarter valued at approximately $6,252,000. Institutional investors own 83.79% of the company's stock.

Axos Financial Price Performance

Shares of AX stock traded down $1.30 on Tuesday, reaching $96.65. The company's stock had a trading volume of 268,387 shares, compared to its average volume of 382,398. The stock's fifty day simple moving average is $98.47 and its 200-day simple moving average is $92.45. Axos Financial, Inc has a 1 year low of $74.89 and a 1 year high of $105.74. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 11.41 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.35.

Axos Financial (NYSE:AX - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.53 earnings per share (EPS) for the quarter, beating 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 company had revenue of $379.77 million for the quarter, compared to the consensus estimate of $375.54 million. During the same quarter in the prior year, the firm earned $1.94 earnings per share. Analysts forecast that Axos Financial, Inc will post 9.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Axos Financial

In other news, Director Roque Santi sold 500 shares of the business's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.30, for a total value of $52,650.00. Following the sale, the director directly owned 7,146 shares in the company, valued at $752,473.80. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

About Axos Financial

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.

Want to see what other hedge funds are holding AX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axos Financial, Inc (NYSE:AX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.