Quantbot Technologies LP Lowers Stock Position in Axos Financial, Inc $AX

Key Points

• Quantbot Technologies LP decreased its stake in Axos Financial by 37.2%, holding 19,262 shares worth $1.24 million after selling 11,426 shares.
• Several hedge funds increased their positions in Axos Financial, with Wealth Enhancement Advisory Services growing their stake by nearly 95% in Q1.
• Axos Financial's recent quarterly earnings beat consensus estimates, reporting $1.94 EPS, and the company has announced a $100 million stock buyback plan indicating confidence in its stock valuation.

Quantbot Technologies LP cut its holdings in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 37.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,262 shares of the company's stock after selling 11,426 shares during the period. Quantbot Technologies LP's holdings in Axos Financial were worth $1,243,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its position in shares of Axos Financial by 94.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 8,017 shares of the company's stock worth $517,000 after acquiring an additional 3,901 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Axos Financial by 1,700.0% during the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock worth $63,000 after acquiring an additional 850 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Axos Financial by 39.2% during 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 during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Axos Financial by 16.0% during the first quarter. Envestnet Asset Management Inc. now owns 50,402 shares of the company's stock worth $3,252,000 after acquiring an additional 6,957 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Axos Financial during the first quarter worth approximately $750,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Axos Financial Stock Performance

Shares of AX opened at $90.8130 on Friday. 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 52-week low of $54.46 and a 52-week high of $91.17. The company has a 50-day simple moving average of $82.72 and a 200-day simple moving average of $71.93. The company has a market capitalization of $5.12 billion, a PE ratio of 12.17 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 firm had revenue of $321.45 million during the quarter, compared to analysts' expectations of $311.73 million. During the same quarter last year, the business earned $1.83 earnings per share. The business's revenue for the quarter was up 10.5% compared to the same quarter last year. Equities research analysts predict that Axos Financial, Inc will post 7.22 earnings per share for the current fiscal year.

Axos Financial announced that its Board of Directors has approved a stock buyback plan on Monday, May 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are 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 shares were sold at an average price of $85.38, for a total value of $1,191,904.80. Following the completion of the sale, the executive vice president 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 document filed with the Securities & Exchange Commission, which is available at this link. 5.07% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AX. 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. Piper Sandler lowered their price objective on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC lifted their price objective on shares of Axos Financial from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. DA Davidson lifted their price objective on shares of Axos Financial from $96.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Jefferies Financial Group assumed coverage on shares of Axos Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price objective on the stock. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Axos Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $90.86.

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.

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