Vanguard Group Inc. Sells 105,184 Shares of 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. lowered its holdings in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,024,418 shares of the company's stock after selling 105,184 shares during the quarter. Vanguard Group Inc. owned about 10.69% of Axos Financial worth $388,695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. New York State Common Retirement Fund raised its holdings in Axos Financial by 1.1% in the 1st quarter. New York State Common Retirement Fund now owns 17,143 shares of the company's stock worth $1,106,000 after acquiring an additional 181 shares during the period. SummerHaven Investment Management LLC raised its holdings in Axos Financial by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 13,386 shares of the company's stock worth $864,000 after acquiring an additional 206 shares during the period. Exchange Traded Concepts LLC raised its holdings in Axos Financial by 1.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 15,844 shares of the company's stock worth $1,022,000 after acquiring an additional 223 shares during the period. Stifel Financial Corp increased its holdings in shares of Axos Financial by 3.4% during the 4th 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. Finally, Summit Investment Advisors Inc. increased its holdings in shares of 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 period. Institutional investors own 83.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Axos Financial from $90.00 to $94.00 and gave the stock a "market perform" rating in a report on Thursday, July 31st. Raymond James Financial restated an "outperform" rating and set a $95.00 price objective (up previously from $90.00) on shares of Axos Financial in a report on Thursday, July 31st. DA Davidson boosted their price objective on shares of Axos Financial from $96.00 to $100.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Piper Sandler dropped their price objective 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, Wall Street Zen upgraded shares of Axos Financial from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Five equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $90.86.

Insider Buying and Selling

In other Axos Financial news, EVP Andrew J. Micheletti sold 13,960 shares of the business's stock in a transaction dated Monday, August 4th. The shares were 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 in the company, valued at $5,759,734.80. The trade was a 17.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.07% of the stock is currently owned by company insiders.

Axos Financial Price Performance

NYSE:AX traded down $0.6260 on Wednesday, reaching $86.2340. The stock had a trading volume of 44,052 shares, compared to its average volume of 388,817. The company has a market capitalization of $4.86 billion, a P/E ratio of 11.57 and a beta of 1.32. Axos Financial, Inc has a 1-year low of $54.46 and a 1-year high of $89.49. 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 fifty day moving average price of $81.74 and a 200-day moving average price of $71.58.

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

Axos Financial declared that its board has approved a share buyback 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 stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.