Nuveen LLC Invests $35.24 Million in Axos Financial, Inc $AX

Key Points

• Nuveen LLC has invested approximately $35.24 million in Axos Financial, acquiring 546,190 shares, which represents about 0.97% of the company.
• Axos Financial has received multiple analyst upgrades, with Raymond James setting a new price target of $95.00 and an average price target of $90.86 across several reports.
• The company reported earnings of $1.94 per share, exceeding analyst expectations, and launched a $100 million share buyback plan, reflecting the board's confidence in the stock's value.

Nuveen LLC bought a new position in Axos Financial, Inc (NYSE:AX - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 546,190 shares of the company's stock, valued at approximately $35,240,000. Nuveen LLC owned about 0.97% of Axos Financial at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AX. Heck Capital Advisors LLC bought a new stake in shares of Axos Financial in the fourth quarter worth about $35,000. NewEdge Advisors LLC grew its stake in shares of Axos Financial by 1,700.0% in the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after purchasing an additional 850 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 516 shares during the last quarter. Palouse Capital Management Inc. grew its stake in shares of Axos Financial by 37.2% in the first quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock worth $171,000 after purchasing an additional 718 shares during the last quarter. Finally, Bridgefront Capital LLC bought a new stake in shares of Axos Financial in the fourth quarter worth about $201,000. 83.79% of the stock is owned by institutional investors.

Axos Financial Price Performance

Shares of AX traded down $0.3920 during midday trading on Wednesday, hitting $86.4680. 53,101 shares of the company traded hands, compared to its average volume of 388,874. The firm has a 50 day moving average of $81.74 and a 200-day moving average of $71.58. Axos Financial, Inc has a 52 week low of $54.46 and a 52 week high of $89.49. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 11.60 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 (NYSE:AX - Get Free Report) last released 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. The business 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 was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.83 EPS. On average, analysts forecast that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Axos Financial announced that its board has authorized a share buyback program on Monday, May 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, EVP Andrew J. Micheletti sold 13,960 shares of the 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 directly owned 67,460 shares of the company's stock, valued at $5,759,734.80. This represents a 17.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.07% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AX has been the topic of several recent analyst reports. Wall Street Zen raised Axos Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Jefferies Financial Group assumed coverage on Axos Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on Axos Financial from $90.00 to $94.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Needham & Company LLC lifted their price objective on Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, DA Davidson lifted their price objective on Axos Financial from $96.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $90.86.

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.