Invesco Ltd. Cuts Stock Holdings in 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. decreased its holdings in AXOS FINANCIAL, INC (NYSE:AX - Free Report) by 32.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 327,238 shares of the company's stock after selling 157,323 shares during the quarter. Invesco Ltd. owned approximately 0.58% of AXOS FINANCIAL worth $21,113,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AX. GAMMA Investing LLC boosted its position in shares of AXOS FINANCIAL by 8,878.0% during the 1st quarter. GAMMA Investing LLC now owns 118,330 shares of the company's stock worth $7,635,000 after purchasing an additional 117,012 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of AXOS FINANCIAL by 1,619.2% during the 4th quarter. Hsbc Holdings PLC now owns 117,940 shares of the company's stock worth $8,269,000 after purchasing an additional 111,080 shares in the last quarter. First Trust Advisors LP boosted its position in shares of AXOS FINANCIAL by 143.0% during the 4th quarter. First Trust Advisors LP now owns 139,114 shares of the company's stock worth $9,717,000 after purchasing an additional 81,861 shares in the last quarter. Ategra Capital Management LLC boosted its position in shares of AXOS FINANCIAL by 47.9% during the 4th quarter. Ategra Capital Management LLC now owns 214,280 shares of the company's stock worth $14,967,000 after purchasing an additional 69,438 shares in the last quarter. Finally, Redwood Investments LLC boosted its position in shares of AXOS FINANCIAL by 192.2% during the 4th 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.

Insiders Place Their Bets

In other AXOS FINANCIAL news, EVP Andrew J. Micheletti sold 13,960 shares of the company's stock in a transaction dated 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 in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.07% of the company's stock.

AXOS FINANCIAL Trading Up 1.2%

Shares of NYSE AX traded up $1.12 during midday trading on Tuesday, hitting $91.29. 328,408 shares of the company traded hands, compared to its average volume of 377,597. AXOS FINANCIAL, INC has a 12-month low of $54.46 and a 12-month high of $91.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a 50-day moving average price of $83.55 and a 200 day moving average price of $72.18. The firm has a market cap of $5.16 billion, a P/E ratio of 12.24 and a beta of 1.32.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.82 by $0.12. The business had revenue of $321.45 million for 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%. The business's revenue was up 10.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.83 earnings per share. As a group, analysts expect that AXOS FINANCIAL, INC will post 7.22 earnings per share for the current year.

AXOS FINANCIAL announced that its board has approved a share buyback plan on Monday, May 12th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. 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 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 report on Thursday, July 31st. Wall Street Zen upgraded shares of AXOS FINANCIAL from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Piper Sandler lowered their target price on shares of AXOS FINANCIAL from $84.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Raymond James Financial restated an "outperform" rating and issued a $95.00 target price (up previously from $90.00) on shares of AXOS FINANCIAL in a report on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $90.86.

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.