Van Hulzen Asset Management LLC Invests $1.31 Million in Axos Financial, Inc $AX

Key Points

• Van Hulzen Asset Management purchased 13,424 shares of Axos Financial worth approximately $1.31 million, while institutional investors and hedge funds collectively own 83.79% of the company.
• Analysts remain generally positive, with Axos receiving a “Moderate Buy” consensus rating and an average price target of $115.67. Recent target increases include Needham’s $128 objective and Benchmark’s $120 target.
• Axos Financial exceeded quarterly expectations, reporting $2.53 in earnings per share versus the $2.16 consensus estimate and revenue of $379.77 million. Shares opened at $96.88, compared with a 52-week range of $74.89 to $105.74.

Van Hulzen Asset Management LLC purchased a new stake in Axos Financial, Inc (NYSE:AX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 13,424 shares of the company's stock, valued at approximately $1,307,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. bought a new stake in Axos Financial during the 4th quarter worth about $26,000. Basepoint Wealth LLC bought a new position in shares of Axos Financial in the 4th quarter valued at about $28,000. Brown Brothers Harriman & Co. acquired a new stake in shares of Axos Financial during the 3rd quarter worth approximately $29,000. State of Wyoming acquired a new stake in shares of Axos Financial during the 1st quarter worth approximately $30,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Axos Financial by 294.7% during the second quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company's stock worth $34,000 after buying an additional 333 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on AX shares. Weiss Ratings raised shares of Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. Benchmark increased their price target on Axos Financial from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, August 13th. Keefe, Bruyette & Woods raised their price target on Axos Financial from $105.00 to $110.00 and gave the stock a "market perform" rating in a research report on Friday, July 31st. Needham & Company LLC lifted their price objective on Axos Financial from $110.00 to $128.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, DA Davidson set a $121.00 price objective on Axos Financial in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $115.67.

Axos Financial Stock Up 0.2%

Shares of NYSE:AX opened at $96.88 on Tuesday. The company has a 50 day moving average price of $97.33 and a two-hundred day moving average price of $92.47. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $5.50 billion, a PE ratio of 11.44 and a beta of 1.22. Axos Financial, Inc has a 52 week low of $74.89 and a 52 week high of $105.74.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, topping analysts' consensus estimates of $2.16 by $0.37. Axos Financial had a net margin of 22.39% and a return on equity of 16.96%. The company had revenue of $379.77 million for the quarter, compared to analysts' expectations of $375.54 million. During the same period last year, the firm posted $1.94 earnings per share. Analysts forecast that Axos Financial, Inc will post 9.59 earnings per share for the current year.

Insider Buying and Selling

In other Axos Financial news, Director Roque A. Santi sold 500 shares of Axos Financial stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total transaction of $52,650.00. Following the transaction, the director directly owned 7,146 shares in the company, valued at approximately $752,473.80. The trade was a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.85% of the company's stock.

Axos Financial Profile

Axos Financial, Inc NYSE: AX is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.

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