Vanguard Group Inc. Lowers Holdings in AXOS FINANCIAL, INC $AX

Key Points

• Vanguard Group Inc. has reduced its stake in AXOS FINANCIAL by 1.7%, now holding approximately 10.69% of the company valued at $388.7 million.
• AXOS FINANCIAL reported quarterly earnings of $1.94 EPS, surpassing estimates and indicating a 10.5% increase in revenue year-over-year.
• Several analysts have adjusted their target prices for AXOS FINANCIAL, with a consensus rating of "Moderate Buy" and an average target price of $90.86.

Vanguard Group Inc. lessened its stake in shares of AXOS FINANCIAL, INC (NYSE:AX - Free Report) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,024,418 shares of the company's stock after selling 105,184 shares during the period. Vanguard Group Inc. owned about 10.69% of AXOS FINANCIAL worth $388,695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Raiffeisen Bank International AG raised its stake in shares of AXOS FINANCIAL by 27.6% during the first quarter. Raiffeisen Bank International AG now owns 3,845 shares of the company's stock valued at $244,000 after acquiring an additional 832 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in AXOS FINANCIAL by 40.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,043 shares of the company's stock valued at $454,000 after acquiring an additional 2,031 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in AXOS FINANCIAL during the 1st quarter valued at $523,000. XTX Topco Ltd purchased a new position in shares of AXOS FINANCIAL in the 1st quarter valued at $624,000. Finally, GSA Capital Partners LLP increased its holdings in shares of AXOS FINANCIAL by 107.0% in the 1st quarter. GSA Capital Partners LLP now owns 22,894 shares of the company's stock valued at $1,477,000 after acquiring an additional 11,833 shares during the period. Institutional investors own 83.79% of the company's stock.

Insider Activity

In related news, EVP Andrew J. Micheletti sold 13,960 shares of the company'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 transaction, the executive vice president directly owned 67,460 shares of the company's stock, valued at $5,759,734.80. This represents a 17.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.07% of the stock is currently owned by insiders.

AXOS FINANCIAL Stock Performance

Shares of NYSE AX traded down $0.8080 during mid-day trading on Thursday, hitting $85.7920. The stock had a trading volume of 258,228 shares, compared to its average volume of 360,981. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50 day moving average of $82.30 and a two-hundred day moving average of $71.80. AXOS FINANCIAL, INC has a twelve month low of $54.46 and a twelve month high of $89.49. The firm has a market cap of $4.84 billion, a PE ratio of 11.50 and a beta of 1.32.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.12. AXOS FINANCIAL had a return on equity of 17.11% and a net margin of 22.24%.The firm had revenue of $321.45 million for the quarter, compared to the consensus estimate of $311.73 million. During the same period in the prior year, the firm earned $1.83 EPS. The firm's revenue was up 10.5% on a year-over-year basis. Research analysts predict that AXOS FINANCIAL, INC will post 7.22 EPS for the current fiscal year.

AXOS FINANCIAL declared that its board has initiated a stock repurchase plan on Monday, May 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have recently commented on AX. Wall Street Zen raised AXOS FINANCIAL from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods boosted their price target on AXOS FINANCIAL from $90.00 to $94.00 and gave the stock a "market perform" rating in a research report on Thursday, July 31st. Piper Sandler reduced their price target on AXOS FINANCIAL from $84.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Jefferies Financial Group began coverage on AXOS FINANCIAL in a research report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price target for the company. Finally, Needham & Company LLC boosted their price target on AXOS FINANCIAL from $92.00 to $102.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.86.

About AXOS FINANCIAL

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.