Axos Financial, Inc $AX Shares Purchased by LPL Financial LLC

Key Points

• LPL Financial LLC increased its holdings in AXOS FINANCIAL by 16.4% during the first quarter, owning 26,198 shares valued at approximately $1.69 million.
• AXOS FINANCIAL's recent quarterly earnings report exceeded expectations, with earnings per share of $1.94 and revenue of $321.45 million, marking a year-over-year increase of 10.5%.
• The company has initiated a stock buyback plan to repurchase $100 million worth of shares, indicating confidence in its valuation.

LPL Financial LLC increased its position in Axos Financial, Inc (NYSE:AX - Free Report) by 16.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,198 shares of the company's stock after buying an additional 3,695 shares during the period. LPL Financial LLC's holdings in Axos Financial were worth $1,690,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AX. Heck Capital Advisors LLC purchased a new position in shares of Axos Financial in the fourth quarter valued at $35,000. NewEdge Advisors LLC lifted its holdings in shares of Axos Financial by 1,700.0% in the 4th 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 grew its position in Axos Financial by 39.2% in the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock worth $118,000 after acquiring an additional 516 shares in the last quarter. Palouse Capital Management Inc. increased its stake in Axos Financial by 37.2% during the first quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock worth $171,000 after acquiring an additional 718 shares during the last quarter. Finally, Bridgefront Capital LLC bought a new stake in shares of Axos Financial in the 4th quarter valued at approximately $201,000. 83.79% of the stock is owned by institutional investors.

Insider Transactions at Axos Financial

In other news, EVP Andrew J. Micheletti sold 13,960 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the sale, the executive vice president owned 67,460 shares of the company's stock, valued at $5,759,734.80. This trade represents a 17.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.07% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. 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. Needham & Company LLC boosted their target price on Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Jefferies Financial Group assumed coverage on Axos Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price target on the stock. Wall Street Zen raised Axos Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Keefe, Bruyette & Woods raised 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. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.86.

Axos Financial Stock Performance

Shares of NYSE AX traded down $0.68 during mid-day trading on Monday, hitting $90.06. The stock had a trading volume of 408,278 shares, compared to its average volume of 390,679. The company has a 50 day moving average of $82.72 and a two-hundred day moving average of $71.92. Axos Financial, Inc has a twelve month low of $54.46 and a twelve month high of $91.17. 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 firm has a market cap of $5.09 billion, a PE ratio of 12.07 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 EPS for the quarter, beating the consensus estimate of $1.82 by $0.12. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. The business had revenue of $321.45 million during the quarter, compared to analysts' expectations of $311.73 million. During the same period in the previous year, the business posted $1.83 EPS. The business's quarterly revenue was up 10.5% compared to the same quarter last year. Research analysts predict that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Axos Financial declared that its board has authorized a share repurchase program on Monday, May 12th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is 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.