Verdence Capital Advisors LLC Purchases New Position in Axos Financial, Inc (NYSE:AX)

Verdence Capital Advisors LLC purchased a new position in shares of Axos Financial, Inc (NYSE:AX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,798 shares of the company's stock, valued at approximately $245,000.

Several other hedge funds also recently bought and sold shares of the stock. Heck Capital Advisors LLC acquired a new position in shares of Axos Financial during the fourth quarter worth about $35,000. NewEdge Advisors LLC increased its holdings in Axos Financial by 1,700.0% in the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company's stock valued at $63,000 after buying an additional 850 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Axos Financial by 39.2% during the first quarter. GAMMA Investing LLC now owns 1,834 shares of the company's stock valued at $118,000 after purchasing an additional 516 shares during the last quarter. Covestor Ltd grew its holdings in shares of Axos Financial by 24.1% during the fourth quarter. Covestor Ltd now owns 2,274 shares of the company's stock valued at $158,000 after purchasing an additional 442 shares during the last quarter. Finally, Palouse Capital Management Inc. grew its holdings in shares of Axos Financial by 37.2% during the first quarter. Palouse Capital Management Inc. now owns 2,649 shares of the company's stock valued at $171,000 after purchasing an additional 718 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AX shares. DA Davidson lowered their target price on Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Raymond James Financial boosted their price objective on Axos Financial from $72.00 to $90.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen downgraded Axos Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 5th. Keefe, Bruyette & Woods upped their target price on Axos Financial from $85.00 to $90.00 and gave the stock a "market perform" rating in a research report on Friday, July 11th. Finally, Piper Sandler cut their target price 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Axos Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.86.

Insiders Place Their Bets

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of the stock in a transaction dated 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 transaction, the director owned 113,295 shares of the company's stock, valued at approximately $7,714,256.55. This represents a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 5.07% of the company's stock.

Axos Financial Price Performance

AX traded up $0.33 during midday trading on Thursday, reaching $86.07. 83,242 shares of the company's stock were exchanged, compared to its average volume of 391,884. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 11.73 and a beta of 1.29. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.19. Axos Financial, Inc has a one year low of $54.46 and a one year high of $88.46. The business has a 50-day simple moving average of $75.95 and a two-hundred day simple moving average of $69.51.

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

Axos Financial announced that its board has approved a stock repurchase plan on Monday, May 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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.