Rhumbline Advisers Sells 6,627 Shares of Axos Financial, Inc $AX

Key Points

• Rhumbline Advisers reduced its stake in Axos Financial, Inc by 4.1%, now holding 156,646 shares valued at approximately $10.11 million.
• Axos Financial reported earnings of $1.94 per share for the last quarter, surpassing estimates by $0.12, with revenue of $321.45 million, reflecting a 10.5% increase year-over-year.
• Analysts have raised their price targets for Axos Financial, with DA Davidson setting it at $100, indicating a strong buy rating for the stock.

Rhumbline Advisers lowered its stake in Axos Financial, Inc (NYSE:AX - Free Report) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,646 shares of the company's stock after selling 6,627 shares during the period. Rhumbline Advisers owned approximately 0.28% of Axos Financial worth $10,107,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of AX. Heck Capital Advisors LLC purchased a new stake in Axos Financial during the fourth quarter worth $35,000. 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 valued at $118,000 after buying an additional 516 shares in the last quarter. Quarry LP acquired a new stake in Axos Financial during the 1st quarter valued at approximately $119,000. Palouse Capital Management Inc. grew its stake in Axos Financial by 37.2% during the 1st quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock valued at $171,000 after purchasing an additional 718 shares in the last quarter. Finally, Strs Ohio bought a new position in Axos Financial during the 1st quarter worth approximately $194,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axos Financial

In related news, EVP Andrew J. Micheletti sold 13,960 shares of the company's stock in a transaction on 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 represents a 17.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Candace L. Thiele sold 700 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $90.14, for a total transaction of $63,098.00. Following the completion of the transaction, the executive vice president directly owned 23 shares of the company's stock, valued at approximately $2,073.22. The trade was a 96.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.07% of the company's stock.

Axos Financial Stock Performance

AX traded down $0.72 on Friday, hitting $91.53. 199,559 shares of the stock traded hands, compared to its average volume of 305,690. Axos Financial, Inc has a 52 week low of $54.46 and a 52 week high of $93.84. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $5.17 billion, a PE ratio of 12.27 and a beta of 1.32. The business has a fifty day moving average price of $87.36 and a two-hundred day moving average price of $74.21.

Axos Financial (NYSE:AX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.12. The company 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 quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.83 earnings per share. On average, research analysts predict that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Analyst Ratings Changes

AX has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Axos Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price target on the stock. DA Davidson raised their target price on Axos Financial from $96.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded Axos Financial from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Raymond James Financial reiterated 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. Finally, Keefe, Bruyette & Woods lifted their target price on Axos Financial from $90.00 to $94.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Five 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $90.86.

Axos Financial 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.