Quantbot Technologies LP Sells 11,426 Shares of 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 trimmed its stake in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 37.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & 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 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of AX. Nuveen LLC purchased a new stake in shares of Axos Financial during the first quarter valued at $35,240,000. American Century Companies Inc. raised its position in Axos Financial by 14.7% during the first quarter. American Century Companies Inc. now owns 2,151,229 shares of the company's stock valued at $138,797,000 after buying an additional 276,450 shares during the period. GAMMA Investing LLC raised its position in Axos Financial by 8,878.0% during the first quarter. GAMMA Investing LLC now owns 118,330 shares of the company's stock valued at $7,635,000 after buying an additional 117,012 shares during the period. Hsbc Holdings PLC raised its position in Axos Financial by 1,619.2% during the fourth quarter. Hsbc Holdings PLC now owns 117,940 shares of the company's stock valued at $8,269,000 after buying an additional 111,080 shares during the period. Finally, First Trust Advisors LP raised its position in Axos Financial by 143.0% during the fourth quarter. First Trust Advisors LP now owns 139,114 shares of the company's stock valued at $9,717,000 after buying an additional 81,861 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AX has been the topic of several recent analyst reports. Piper Sandler dropped their price target on Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Jefferies Financial Group initiated coverage on Axos Financial in a research report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price target on the stock. Keefe, Bruyette & Woods upped their price target 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. Wall Street Zen raised Axos Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Finally, Raymond James Financial reissued an "outperform" rating and set a $95.00 price target (up from $90.00) on shares of Axos Financial in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Axos Financial has a consensus rating of "Moderate Buy" and a consensus price target of $90.86.

Insider Activity

In other news, EVP Andrew J. Micheletti sold 13,960 shares of the company'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 completion of the sale, the executive vice president owned 67,460 shares in the company, valued at approximately $5,759,734.80. This represents a 17.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 5.07% of the company's stock.

Axos Financial Stock Down 0.4%

NYSE AX traded down $0.41 on Thursday, reaching $91.90. The stock had a trading volume of 59,403 shares, compared to its average volume of 387,572. The business has a 50 day moving average price of $83.98 and a 200 day moving average price of $72.32. The company has a current ratio of 1.09, a quick 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 $92.99. The company has a market capitalization of $5.19 billion, a price-to-earnings ratio of 12.31 and a beta of 1.32.

Axos Financial (NYSE:AX - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.12. Axos Financial had a return on equity of 17.11% and a net margin of 22.24%.The firm had revenue of $321.45 million for the quarter, compared to the consensus estimate of $311.73 million. During the same quarter in the previous year, the company posted $1.83 earnings per share. The business's quarterly revenue was up 10.5% compared to the same quarter last year. 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 initiated a stock repurchase program on Monday, May 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its stock is undervalued.

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.