New Age Alpha Advisors LLC Has $179,000 Stake in Axos Financial, Inc (NYSE:AX)

Key Points

• New Age Alpha Advisors LLC significantly reduced its stake in AXOS FINANCIAL, INC by 94.6%, now holding only 2,769 shares valued at approximately $179,000.
• AXOS FINANCIAL's stock is currently priced at around $84.93 with a market cap of $4.79 billion, and its recent earnings exceeded estimates, reporting $1.94 EPS for the last quarter.
• The company's Board of Directors has initiated a $100 million stock repurchase program, indicating confidence in the stock's value amidst changing institutional investor positions.

New Age Alpha Advisors LLC lowered its stake in Axos Financial, Inc (NYSE:AX - Free Report) by 94.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,769 shares of the company's stock after selling 48,854 shares during the quarter. New Age Alpha Advisors LLC's holdings in Axos Financial were worth $179,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Heck Capital Advisors LLC bought a new position in Axos Financial during the 4th quarter worth about $35,000. NewEdge Advisors LLC increased its holdings in Axos Financial by 1,700.0% during the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after purchasing an additional 850 shares in the last quarter. GAMMA Investing LLC increased its holdings in Axos Financial by 39.2% during the 1st quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock worth $118,000 after purchasing an additional 516 shares in the last quarter. Palouse Capital Management Inc. increased its holdings in Axos Financial by 37.2% during the 1st quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock worth $171,000 after purchasing an additional 718 shares in the last quarter. Finally, Bridgefront Capital LLC bought a new position in Axos Financial during the 4th quarter worth about $201,000. Institutional investors and hedge funds own 83.79% of the company's stock.

Axos Financial Stock Performance

NYSE:AX traded down $0.31 during mid-day trading on Thursday, hitting $89.01. The stock had a trading volume of 175,416 shares, compared to its average volume of 390,848. Axos Financial, Inc has a twelve month low of $54.46 and a twelve month high of $89.49. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 11.93 and a beta of 1.32. The company's 50 day simple moving average is $80.45 and its 200 day simple moving average is $71.11. 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 (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, topping the consensus estimate of $1.82 by $0.12. The firm had revenue of $321.45 million during the quarter, compared to the consensus estimate 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 for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $1.83 earnings per share. On average, equities research analysts forecast that Axos Financial, Inc will post 7.22 earnings per share for the current year.

Axos Financial announced that its Board of Directors has initiated a stock buyback program on Monday, May 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

AX has been the subject of a number of research reports. Piper Sandler lowered their target price on Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. Wall Street Zen upgraded Axos Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Raymond James Financial restated an "outperform" rating and issued a $95.00 price objective (up previously from $90.00) on shares of Axos Financial in a report on Thursday, July 31st. Keefe, Bruyette & Woods raised their price objective on Axos Financial from $90.00 to $94.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Finally, Needham & Company LLC raised their price objective on Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $90.86.

Insider Transactions at Axos Financial

In other Axos Financial 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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.