Formula Growth Ltd. bought a new stake in Axos Financial, Inc (NYSE:AX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 30,624 shares of the company's stock, valued at approximately $2,982,000. Formula Growth Ltd. owned about 0.05% of Axos Financial at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of AX. Eurizon Capital SGR S.p.A. acquired a new position in Axos Financial in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new stake in Axos Financial during the 4th quarter worth $28,000. Brown Brothers Harriman & Co. acquired a new stake in Axos Financial during the 3rd quarter worth $29,000. State of Wyoming bought a new stake in shares of Axos Financial during the 1st quarter valued at $30,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Axos Financial by 294.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company's stock valued at $34,000 after acquiring an additional 333 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.
Insider Buying and Selling
In other Axos Financial news, Director Roque A. Santi sold 500 shares of Axos Financial stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total transaction of $52,650.00. Following the transaction, the director directly owned 7,146 shares in the company, valued at approximately $752,473.80. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.85% of the company's stock.
Analyst Upgrades and Downgrades
AX has been the topic of a number of analyst reports. Benchmark increased their price target on Axos Financial from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Keefe, Bruyette & Woods lifted their price objective 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. DA Davidson set a $121.00 price objective on Axos Financial in a report on Friday, July 31st. Needham & Company LLC increased their target price on Axos Financial from $110.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, July 31st. Finally, Weiss Ratings upgraded Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $115.67.
View Our Latest Analysis on Axos Financial
Axos Financial Stock Down 0.7%
Shares of NYSE:AX opened at $97.36 on Friday. The company has a 50 day moving average price of $97.91 and a two-hundred day moving average price of $92.44. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $5.52 billion, a PE ratio of 11.49 and a beta of 1.22. Axos Financial, Inc has a 52 week low of $74.89 and a 52 week high of $105.74.
Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $379.77 million for the quarter, compared to analysts' expectations of $375.54 million. During the same period last year, the firm posted $1.94 earnings per share. Analysts forecast that Axos Financial, Inc will post 9.59 earnings per share for the current year.
Axos Financial Company Profile
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Free Report)
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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