Foyston Gordon & Payne Inc Acquires New Stake in Axos Financial, Inc $AX

Key Points

• Foyston Gordon & Payne Inc has acquired a new position in Axos Financial, purchasing 3,721 shares valued at approximately $240,000 during the first quarter.
• Several other institutional investors have also increased their stakes, with New York State Common Retirement Fund owning over 17,000 shares valued at about $1.1 million after a recent purchase.
• Analysts have generally upgraded their ratings for Axos Financial, with target prices ranging from $90.00 to $102.00, indicating a strong market sentiment towards the company.

Foyston Gordon & Payne Inc purchased a new stake in shares of Axos Financial, Inc (NYSE:AX - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,721 shares of the company's stock, valued at approximately $240,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new stake in shares of Axos Financial during the fourth quarter valued at approximately $35,000. NewEdge Advisors LLC increased its position in shares of Axos Financial by 1,700.0% during the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after acquiring an additional 850 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Axos Financial by 39.2% during the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock valued at $118,000 after acquiring an additional 516 shares during the last quarter. Palouse Capital Management Inc. increased its position in shares of Axos Financial by 37.2% during the first quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock valued at $171,000 after acquiring an additional 718 shares during the last quarter. Finally, Bridgefront Capital LLC purchased a new stake in shares of Axos Financial during the fourth quarter valued at approximately $201,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AX has been the subject of several research reports. Piper Sandler reduced their price objective on Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Keefe, Bruyette & Woods increased their price objective on Axos Financial from $90.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Wall Street Zen raised Axos Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Jefferies Financial Group initiated coverage on Axos Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective for the company. Finally, Raymond James Financial reissued an "outperform" rating and set a $95.00 price objective (up from $90.00) on shares of Axos Financial in a report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $90.86.

Insider Activity at Axos Financial

In other news, EVP Andrew J. Micheletti sold 13,960 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $85.38, for a total value of $1,191,904.80. Following the completion of the transaction, the executive vice president directly owned 67,460 shares of the company's stock, valued at $5,759,734.80. This trade represents a 17.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.07% of the stock is owned by insiders.

Axos Financial Stock Performance

Shares of Axos Financial stock traded up $5.1150 during trading hours on Friday, reaching $90.9450. The company had a trading volume of 295,257 shares, compared to its average volume of 388,491. Axos Financial, Inc has a one year low of $54.46 and a one year high of $90.87. The business has a fifty day simple moving average of $82.30 and a 200 day simple moving average of $71.80. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $5.13 billion, a PE ratio of 12.19 and a beta of 1.32.

Axos Financial (NYSE:AX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.12. Axos Financial had a return on equity of 17.11% and a net margin of 22.24%.The firm had revenue of $321.45 million during the quarter, compared to analyst estimates of $311.73 million. During the same period last year, the company earned $1.83 earnings per share. The business's revenue for the quarter was up 10.5% on a year-over-year basis. On average, analysts anticipate that Axos Financial, Inc will post 7.22 earnings per share for the current fiscal year.

Axos Financial announced that its board has initiated a stock buyback plan on Monday, May 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to buy up to 2.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Axos Financial Profile

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.