Nuveen LLC Buys New Position 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 acquired a new position in shares of AXOS FINANCIAL, INC (NYSE:AX - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 546,190 shares of the company's stock, valued at approximately $35,240,000. Nuveen LLC owned approximately 0.97% of AXOS FINANCIAL at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AX. Heck Capital Advisors LLC purchased a new stake in AXOS FINANCIAL during the 4th quarter worth about $35,000. NewEdge Advisors LLC boosted its stake in AXOS FINANCIAL by 1,700.0% in the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after buying an additional 850 shares during the last quarter. GAMMA Investing LLC boosted its stake in AXOS FINANCIAL by 39.2% in the 1st quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock worth $118,000 after buying an additional 516 shares during the last quarter. Palouse Capital Management Inc. boosted its stake in AXOS FINANCIAL by 37.2% in the 1st quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock worth $171,000 after buying an additional 718 shares during the last quarter. Finally, Bridgefront Capital LLC acquired a new stake in AXOS FINANCIAL in the 4th quarter worth about $201,000. Hedge funds and other institutional investors own 83.79% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Keefe, Bruyette & Woods raised their price target on AXOS FINANCIAL from $90.00 to $94.00 and gave the stock a "market perform" rating in a research note on Thursday, July 31st. Piper Sandler decreased their price target on AXOS FINANCIAL from $84.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. DA Davidson raised their price target on AXOS FINANCIAL from $96.00 to $100.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Jefferies Financial Group assumed coverage on AXOS FINANCIAL in a research note on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price target on the stock. Finally, Raymond James Financial reissued an "outperform" rating and issued a $95.00 price target (up from $90.00) on shares of AXOS FINANCIAL in a research note on Thursday, July 31st. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, AXOS FINANCIAL currently has a consensus rating of "Moderate Buy" and a consensus target price of $90.86.

AXOS FINANCIAL Trading Down 0.9%

Shares of NYSE AX traded down $0.8080 during midday trading on Thursday, hitting $85.7920. The stock had a trading volume of 258,228 shares, compared to its average volume of 360,981. The company has a market capitalization of $4.84 billion, a price-to-earnings ratio of 11.50 and a beta of 1.32. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.17. AXOS FINANCIAL, INC has a 1-year low of $54.46 and a 1-year high of $89.49. The company has a fifty day moving average price of $82.30 and a 200 day moving average price of $71.80.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $311.73 million. AXOS FINANCIAL had a return on equity of 17.11% and a net margin of 22.24%.The company's revenue was up 10.5% on a year-over-year basis. During the same period last year, the business posted $1.83 EPS. On average, analysts predict that AXOS FINANCIAL, INC will post 7.22 earnings per share for the current year.

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

Insider Activity at AXOS FINANCIAL

In related news, EVP Andrew J. Micheletti sold 13,960 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the sale, the executive vice president directly owned 67,460 shares in the company, valued at approximately $5,759,734.80. This trade represents a 17.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.07% of the company's stock.

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.