Jackson Creek Investment Advisors LLC Boosts Stake in Axos Financial, Inc $AX

Key Points

• Jackson Creek Investment Advisors boosted its Axos Financial stake by 714% in the fourth quarter, ending with 20,725 shares worth about $1.79 million.
• Other institutional investors also added to or initiated positions in AX, and the stock remains heavily institution-owned at 83.79%.
• Analysts currently view Axos Financial as a Moderate Buy with an average price target of $109.40, though recent insider selling and a mixed earnings report added some caution.

Jackson Creek Investment Advisors LLC lifted its holdings in Axos Financial, Inc (NYSE:AX - Free Report) by 714.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,725 shares of the company's stock after buying an additional 18,179 shares during the quarter. Jackson Creek Investment Advisors LLC's holdings in Axos Financial were worth $1,786,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of AX. Royal Bank of Canada boosted its stake in shares of Axos Financial by 0.9% in the first quarter. Royal Bank of Canada now owns 108,986 shares of the company's stock valued at $7,031,000 after buying an additional 1,015 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Axos Financial by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company's stock valued at $2,099,000 after buying an additional 1,429 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Axos Financial in the first quarter valued at approximately $212,000. Cetera Investment Advisers boosted its stake in shares of Axos Financial by 1.8% in the second quarter. Cetera Investment Advisers now owns 8,197 shares of the company's stock valued at $623,000 after buying an additional 141 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in shares of Axos Financial in the second quarter valued at approximately $6,252,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AX has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $110.00 target price on shares of Axos Financial in a research report on Monday, March 16th. Weiss Ratings downgraded Axos Financial from a "buy (b)" rating to a "buy (b-)" rating in a research report on Thursday, May 14th. Zacks Research downgraded Axos Financial from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 8th. Keefe, Bruyette & Woods boosted their target price on Axos Financial from $100.00 to $110.00 and gave the stock a "market perform" rating in a research report on Friday, January 30th. Finally, Jefferies Financial Group boosted their target price on Axos Financial from $110.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Axos Financial presently has a consensus rating of "Moderate Buy" and an average price target of $109.40.

Insider Buying and Selling at Axos Financial

In related news, Director Roque A. Santi sold 500 shares of the company's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $87.77, for a total value of $43,885.00. Following the completion of the transaction, the director directly owned 7,646 shares in the company, valued at approximately $671,089.42. This represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Michael James Watson sold 1,653 shares of the company's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total value of $138,471.81. Following the completion of the transaction, the executive vice president owned 4,592 shares of the company's stock, valued at $384,671.84. The trade was a 26.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.85% of the company's stock.

Axos Financial Stock Up 2.1%

Shares of NYSE:AX opened at $87.90 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.38. Axos Financial, Inc has a 52-week low of $67.89 and a 52-week high of $101.92. The stock's fifty day simple moving average is $88.73 and its 200-day simple moving average is $88.81. The company has a market capitalization of $5.00 billion, a P/E ratio of 10.68 and a beta of 1.30.

Axos Financial (NYSE:AX - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.23). The business had revenue of $392.25 million during the quarter, compared to analyst estimates of $372.51 million. Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. During the same quarter in the previous year, the company posted $1.81 earnings per share. As a group, equities research analysts forecast that Axos Financial, Inc will post 8.57 earnings per share for the current fiscal year.

Axos Financial Profile

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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