Rhumbline Advisers Has $10.11 Million Stock Holdings in Axos Financial, Inc. (NYSE:AX)

Rhumbline Advisers trimmed its stake in Axos Financial, Inc. (NYSE:AX - Free Report) by 4.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 156,646 shares of the company's stock after selling 6,627 shares during the quarter. Rhumbline Advisers owned approximately 0.27% of Axos Financial worth $10,107,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AX. Illinois Municipal Retirement Fund lifted its holdings in Axos Financial by 0.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 29,916 shares of the company's stock valued at $2,090,000 after purchasing an additional 196 shares during the last quarter. Versor Investments LP grew its stake in Axos Financial by 5.3% in the 4th quarter. Versor Investments LP now owns 4,000 shares of the company's stock valued at $279,000 after buying an additional 200 shares during the last quarter. Stifel Financial Corp increased its stake in shares of Axos Financial by 3.4% during the fourth quarter. Stifel Financial Corp now owns 7,310 shares of the company's stock worth $511,000 after purchasing an additional 241 shares during the period. Summit Investment Advisors Inc. lifted its holdings in Axos Financial by 4.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,717 shares of the company's stock worth $399,000 after purchasing an additional 254 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its stake in Axos Financial by 2.0% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 13,567 shares of the company's stock valued at $948,000 after purchasing an additional 266 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AX has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Axos Financial in a report on Wednesday, May 21st. They set a "buy" rating and a $90.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $88.00 price target on shares of Axos Financial in a research report on Monday. Piper Sandler reduced 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. Raymond James restated an "outperform" rating and set a $72.00 price objective (down previously from $80.00) on shares of Axos Financial in a research note on Friday, May 2nd. Finally, DA Davidson reduced their target price on Axos Financial from $88.00 to $84.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $82.71.

Axos Financial Price Performance

Shares of AX stock traded down $0.84 on Wednesday, hitting $72.15. 499,449 shares of the company's stock were exchanged, compared to its average volume of 478,483. The company has a 50 day moving average of $65.91 and a 200 day moving average of $68.97. The stock has a market cap of $4.07 billion, a P/E ratio of 9.70 and a beta of 1.29. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.09 and a quick ratio of 1.09. Axos Financial, Inc. has a 12 month low of $51.39 and a 12 month high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.07. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. The company had revenue of $432.72 million for the quarter, compared to analyst estimates of $305.04 million. During the same period in the previous year, the firm posted $1.91 EPS. On average, equities research analysts predict that Axos Financial, Inc. will post 7.22 EPS for the current year.

Axos Financial announced that its board has authorized a share repurchase plan on Monday, May 12th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Insider Transactions at Axos Financial

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of Axos Financial stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the transaction, the director now directly owns 113,295 shares of the company's stock, valued at approximately $7,714,256.55. The trade was a 20.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.07% of the company's stock.

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.