Axos Financial, Inc $AX Holdings Decreased by Rhumbline Advisers

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 reduced its position in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 4.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,646 shares of the company's stock after selling 6,627 shares during the period. Rhumbline Advisers owned 0.28% of Axos Financial worth $10,107,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Heck Capital Advisors LLC purchased a new position in shares of Axos Financial during the 4th quarter worth about $35,000. GAMMA Investing LLC raised its stake 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 valued at $118,000 after purchasing an additional 516 shares during the period. Quarry LP purchased a new stake in shares of Axos Financial during the first quarter valued at approximately $119,000. Palouse Capital Management Inc. raised its stake in shares of Axos Financial by 37.2% during the first 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 during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Axos Financial during the fourth quarter valued at approximately $205,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Axos Financial news, EVP Andrew J. Micheletti sold 13,960 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $85.38, for a total value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Candace L. Thiele sold 700 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $90.14, for a total value of $63,098.00. Following the completion of the sale, the executive vice president owned 23 shares in the company, valued at $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. Company insiders own 5.07% of the company's stock.

Axos Financial Stock Performance

AX stock traded down $2.13 during mid-day trading on Tuesday, reaching $88.17. The company had a trading volume of 90,057 shares, compared to its average volume of 380,675. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $4.98 billion, a P/E ratio of 11.82 and a beta of 1.32. Axos Financial, Inc has a one year low of $54.46 and a one year high of $93.84. The stock's 50-day simple moving average is $87.51 and its two-hundred day simple moving average is $74.43.

Axos Financial (NYSE:AX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.94 earnings per share (EPS) 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 analysts' expectations of $311.73 million. Axos Financial had a return on equity of 17.11% and a net margin of 22.24%.The firm's quarterly revenue was up 10.5% compared to the same quarter last year. During the same period last year, the business posted $1.83 earnings per share. Research analysts anticipate that Axos Financial, Inc will post 7.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Axos Financial from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Raymond James Financial reiterated an "outperform" rating and set a $95.00 price objective (up previously from $90.00) on shares of Axos Financial in a research note on Thursday, July 31st. Keefe, Bruyette & Woods lifted their price objective on shares of Axos Financial from $90.00 to $94.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Jefferies Financial Group started coverage on shares of Axos Financial in a research note on Wednesday, May 21st. They set a "buy" rating and a $90.00 price objective on the stock. Finally, DA Davidson raised their price target on shares of Axos Financial from $96.00 to $100.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Axos Financial presently has an average rating of "Moderate Buy" and a consensus target price 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.