Osterweis Capital Management Inc. Purchases Shares of 165,685 Axos Financial, Inc $AX

Key Points

• Osterweis Capital Management bought 165,685 shares of Axos Financial during the second quarter, worth approximately $16.1 million and representing about 0.29% of the company. Institutional investors collectively own 83.79% of Axos Financial.
• Axos Financial exceeded quarterly expectations, reporting $2.53 in EPS versus the $2.16 consensus estimate and $379.77 million in revenue versus $375.54 million expected.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $115.67, compared with the stock’s reported price of $96.88.

Osterweis Capital Management Inc. bought a new stake in shares of Axos Financial, Inc (NYSE:AX - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 165,685 shares of the company's stock, valued at approximately $16,136,000. Osterweis Capital Management Inc. owned about 0.29% of Axos Financial as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ategra Capital Management LLC bought a new position in Axos Financial during the second quarter valued at $11,080,000. Legal & General Group Plc purchased a new position in shares of Axos Financial in the 2nd quarter worth $12,434,000. The Manufacturers Life Insurance Company bought a new stake in shares of Axos Financial in the 2nd quarter worth about $2,867,000. Van Hulzen Asset Management LLC bought a new stake in shares of Axos Financial in the 2nd quarter worth about $1,307,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Axos Financial during the 2nd quarter valued at about $94,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Axos Financial Price Performance

AX opened at $96.88 on Tuesday. The business has a fifty day moving average of $97.33 and a 200 day moving average of $92.47. The stock has a market cap of $5.50 billion, a P/E ratio of 11.44 and a beta of 1.22. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. Axos Financial, Inc has a 52-week low of $74.89 and a 52-week high of $105.74.

Axos Financial (NYSE:AX - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, topping analysts' consensus estimates of $2.16 by $0.37. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.The business had revenue of $379.77 million for the quarter, compared to analyst estimates of $375.54 million. During the same quarter last year, the firm posted $1.94 earnings per share. As a group, sell-side analysts anticipate that Axos Financial, Inc will post 9.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Benchmark increased their price target on shares of Axos Financial from $115.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, August 13th. Keefe, Bruyette & Woods boosted their price objective on Axos Financial from $105.00 to $110.00 and gave the stock a "market perform" rating in a research note on Friday, July 31st. Weiss Ratings upgraded Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 1st. DA Davidson set a $121.00 price objective on Axos Financial in a research note on Friday, July 31st. Finally, Needham & Company LLC raised their price objective on Axos Financial from $110.00 to $128.00 and gave the company a "buy" rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $115.67.

Insider Buying and Selling

In related news, Director Roque A. Santi sold 500 shares of the firm's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.30, for a total value of $52,650.00. Following the transaction, the director owned 7,146 shares of the company's stock, valued at $752,473.80. This trade represents a 6.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.85% of the stock is owned by corporate insiders.

Axos Financial Company 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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