SG Americas Securities LLC Makes New $750,000 Investment in Axos Financial, Inc (NYSE:AX)

SG Americas Securities LLC purchased a new stake in Axos Financial, Inc (NYSE:AX - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 11,630 shares of the company's stock, valued at approximately $750,000.

Several other institutional investors have also made changes to their positions in the stock. Heck Capital Advisors LLC bought a new position in Axos Financial in the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new position in shares of Axos Financial in the 4th quarter valued at $52,000. NewEdge Advisors LLC boosted its holdings in shares of Axos Financial by 1,700.0% during the 4th quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after acquiring an additional 850 shares in the last quarter. SRS Capital Advisors Inc. grew its position in Axos Financial by 238.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,097 shares of the company's stock worth $77,000 after acquiring an additional 773 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in Axos Financial by 206.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,261 shares of the company's stock worth $88,000 after purchasing an additional 849 shares in the last quarter. 83.79% of the stock is currently owned by institutional investors.

Axos Financial Stock Up 1.1%

Shares of AX traded up $0.80 during trading hours on Tuesday, hitting $75.31. The stock had a trading volume of 240,747 shares, compared to its average volume of 472,541. Axos Financial, Inc has a 1-year low of $53.75 and a 1-year high of $88.46. The firm has a market capitalization of $4.25 billion, a P/E ratio of 10.26 and a beta of 1.29. The firm has a 50 day simple moving average of $68.32 and a 200-day simple moving average of $68.18. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.09 and a quick ratio of 1.09.

Axos Financial (NYSE:AX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, beating the consensus estimate of $1.74 by $0.07. Axos Financial had a return on equity of 17.58% and a net margin of 21.93%. The firm had revenue of $432.72 million during the quarter, compared to the consensus estimate of $305.04 million. During the same quarter in the previous year, the company posted $1.91 earnings per share. Sell-side analysts predict that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Axos Financial declared that its board has authorized a stock buyback plan on Monday, May 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

AX has been the topic of several research reports. Needham & Company LLC restated a "buy" rating and set a $88.00 price target on shares of Axos Financial in a report on Monday, June 9th. Raymond James Financial reiterated an "outperform" rating and set a $72.00 target price (down from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. Wall Street Zen cut shares of Axos Financial from a "hold" rating to a "sell" rating in a research report on Saturday, June 14th. Piper Sandler cut their price target on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Jefferies Financial Group began coverage on Axos Financial in a report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $82.71.

Insiders Place Their Bets

In related news, Director Paul Grinberg sold 30,000 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $68.09, for a total value of $2,042,700.00. Following the completion of the sale, the director now directly owns 113,295 shares of the company's stock, valued at approximately $7,714,256.55. This represents a 20.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.07% of the company's stock.

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.