Fifth Third Bancorp Has $1.18 Million Stock Holdings in Axos Financial, Inc $AX

Key Points

• Fifth Third Bancorp sharply increased its stake in Axos Financial by 3,056.6% in the first quarter, ending with 13,826 shares valued at about $1.18 million.
• Institutional ownership remains high, with hedge funds and other large investors actively adjusting positions and owning 83.79% of Axos Financial’s stock.
• Analyst sentiment is generally positive: the stock has a consensus Buy rating and an average price target of $110.33, though the most recent quarter showed earnings of $1.90 per share, below estimates.

Fifth Third Bancorp raised its holdings in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 3,056.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 13,826 shares of the company's stock after acquiring an additional 13,388 shares during the period. Fifth Third Bancorp's holdings in Axos Financial were worth $1,176,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Axos Financial during the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new stake in Axos Financial in the fourth quarter valued at about $28,000. Brown Brothers Harriman & Co. acquired a new position in Axos Financial in the third quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its stake in Axos Financial by 294.7% in the second quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company's stock valued at $34,000 after buying an additional 333 shares during the period. Finally, Torren Management LLC acquired a new position in Axos Financial in the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Analysts Set New Price Targets

AX has been the subject of several analyst reports. Weiss Ratings upgraded Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 1st. Benchmark began coverage on shares of Axos Financial in a research report on Wednesday, July 8th. They issued a "buy" rating and a $115.00 price target on the stock. Zacks Research lowered shares of Axos Financial from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 8th. Finally, Raymond James Financial upgraded shares of Axos Financial from an "outperform" rating to a "strong-buy" rating and decreased their price objective for the company from $110.00 to $100.00 in a report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Axos Financial has an average rating of "Buy" and a consensus target price of $110.33.

Insider Buying and Selling

In other Axos Financial news, EVP Michael James Watson sold 1,653 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total transaction of $138,471.81. Following the sale, the executive vice president directly owned 4,592 shares in the company, valued at approximately $384,671.84. This trade represents a 26.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Roque A. Santi sold 500 shares of Axos Financial stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $87.77, for a total transaction of $43,885.00. Following the completion of the transaction, the director directly owned 7,646 shares in the company, valued at approximately $671,089.42. The trade was a 6.14% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.85% of the stock is currently owned by corporate insiders.

Axos Financial Stock Up 0.6%

Shares of Axos Financial stock opened at $95.75 on Friday. Axos Financial, Inc has a 1 year low of $74.89 and a 1 year high of $102.18. The business has a 50-day moving average of $92.06 and a two-hundred day moving average of $91.60. The company has a market capitalization of $5.45 billion, a P/E ratio of 11.63 and a beta of 1.23. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.15 and a quick ratio of 1.15.

Axos Financial (NYSE:AX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing analysts' consensus estimates of $2.13 by ($0.23). Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.The business had revenue of $392.25 million for the quarter, compared to analyst estimates of $372.51 million. During the same period in the prior year, the business earned $1.81 EPS. As a group, equities analysts predict that Axos Financial, Inc will post 8.38 EPS for the current year.

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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