Invesco Ltd. Sells 157,323 Shares of AXOS FINANCIAL, INC $AX

Key Points

• Invesco Ltd. reduced its stake in AXOS FINANCIAL by 32.5%, selling 157,323 shares, leaving it with 327,238 shares worth approximately $21.1 million.
• Several institutional investors, including GAMMA Investing LLC and Hsbc Holdings PLC, significantly increased their holdings in AXOS FINANCIAL, showing a strong interest in the stock.
• AXOS FINANCIAL recently reported a net profit of $1.94 EPS for the last quarter, surpassing analysts' expectations, with revenue also up 10.5% compared to the previous year.

Invesco Ltd. lowered its holdings in shares of AXOS FINANCIAL, INC (NYSE:AX - Free Report) by 32.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 327,238 shares of the company's stock after selling 157,323 shares during the period. Invesco Ltd. owned approximately 0.58% of AXOS FINANCIAL worth $21,113,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AX. GAMMA Investing LLC lifted its stake in shares of AXOS FINANCIAL by 8,878.0% in the first quarter. GAMMA Investing LLC now owns 118,330 shares of the company's stock worth $7,635,000 after buying an additional 117,012 shares in the last quarter. Hsbc Holdings PLC increased its holdings in AXOS FINANCIAL by 1,619.2% during the fourth quarter. Hsbc Holdings PLC now owns 117,940 shares of the company's stock valued at $8,269,000 after buying an additional 111,080 shares during the last quarter. First Trust Advisors LP increased its holdings in AXOS FINANCIAL by 143.0% during the fourth quarter. First Trust Advisors LP now owns 139,114 shares of the company's stock valued at $9,717,000 after buying an additional 81,861 shares during the last quarter. Ategra Capital Management LLC increased its holdings in AXOS FINANCIAL by 47.9% during the fourth quarter. Ategra Capital Management LLC now owns 214,280 shares of the company's stock valued at $14,967,000 after buying an additional 69,438 shares during the last quarter. Finally, Redwood Investments LLC increased its stake in shares of AXOS FINANCIAL by 192.2% in the fourth quarter. Redwood Investments LLC now owns 90,712 shares of the company's stock worth $6,336,000 after purchasing an additional 59,667 shares in the last quarter. Institutional investors own 83.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on AX shares. Needham & Company LLC increased their price objective on shares of AXOS FINANCIAL from $92.00 to $102.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Piper Sandler lowered their price objective on shares of AXOS FINANCIAL from $84.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. 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. DA Davidson raised their target price on shares of AXOS FINANCIAL from $96.00 to $100.00 and gave the stock a "buy" rating in a 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. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.86.

AXOS FINANCIAL Stock Down 0.3%

NYSE:AX opened at $86.6390 on Thursday. The company's 50-day simple moving average is $82.03 and its 200-day simple moving average is $71.68. The stock has a market capitalization of $4.88 billion, a P/E ratio of 11.61 and a beta of 1.32. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09. AXOS FINANCIAL, INC has a fifty-two week low of $54.46 and a fifty-two week high of $89.49.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last released its 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. The company had revenue of $321.45 million during the quarter, compared to analysts' expectations of $311.73 million. AXOS FINANCIAL had a net margin of 22.24% and a return on equity of 17.11%. AXOS FINANCIAL's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period last year, the business earned $1.83 EPS. On average, equities 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 approved a share repurchase program on Monday, May 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Andrew J. Micheletti sold 13,960 shares of AXOS FINANCIAL stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 67,460 shares in the company, valued at $5,759,734.80. This trade represents a 17.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.07% of the stock is owned by company insiders.

About AXOS FINANCIAL

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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