Foyston Gordon & Payne Inc Acquires New Position in Axos Financial, Inc (NYSE: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 bought a new position in Axos Financial, Inc (NYSE:AX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,721 shares of the company's stock, valued at approximately $240,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AX. New York State Common Retirement Fund increased its stake in shares of Axos Financial by 1.1% in the first quarter. New York State Common Retirement Fund now owns 17,143 shares of the company's stock worth $1,106,000 after purchasing an additional 181 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in Axos Financial by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 13,386 shares of the company's stock worth $864,000 after buying an additional 206 shares during the period. Exchange Traded Concepts LLC increased its stake in Axos Financial by 1.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 15,844 shares of the company's stock worth $1,022,000 after buying an additional 223 shares in the last quarter. Stifel Financial Corp raised its holdings in Axos Financial by 3.4% during the fourth quarter. Stifel Financial Corp now owns 7,310 shares of the company's stock valued at $511,000 after acquiring an additional 241 shares during the period. Finally, Summit Investment Advisors Inc. lifted its position in shares of Axos Financial by 4.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,717 shares of the company's stock valued at $399,000 after acquiring an additional 254 shares in the last quarter. Institutional investors own 83.79% of the company's stock.

Analyst Ratings Changes

AX has been the subject of a number of recent analyst reports. Needham & Company LLC upped their price objective on Axos Financial from $92.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. DA Davidson increased their price objective on shares of Axos Financial from $96.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Raymond James Financial reiterated an "outperform" rating and set a $95.00 price objective (up previously from $90.00) on shares of Axos Financial in a research report on Thursday, July 31st. Keefe, Bruyette & Woods upped their target price on shares of Axos Financial from $90.00 to $94.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Finally, Wall Street Zen upgraded shares of Axos Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $90.86.

Insiders Place Their Bets

In other news, EVP Andrew J. Micheletti sold 13,960 shares of the stock in a transaction on Monday, August 4th. The shares were sold at an average price of $85.38, for a total value of $1,191,904.80. Following the sale, the executive vice president owned 67,460 shares of the company's stock, valued at approximately $5,759,734.80. This represents a 17.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.07% of the stock is owned by company insiders.

Axos Financial Price Performance

AX stock opened at $87.87 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.17. Axos Financial, Inc has a 52 week low of $54.46 and a 52 week high of $89.49. The company has a fifty day simple moving average of $81.16 and a two-hundred day simple moving average of $71.34. The firm has a market capitalization of $4.95 billion, a P/E ratio of 11.78 and a beta of 1.32.

Axos Financial (NYSE:AX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.12. The business had revenue of $321.45 million for the quarter, compared to the consensus estimate of $311.73 million. Axos Financial had a return on equity of 17.11% and a net margin of 22.24%. The company's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.83 earnings per share. Analysts anticipate 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 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 reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Axos Financial Company 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.

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