VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Axos Financial, Inc $AX

Key Points

• Virginia Retirement Systems has acquired a new stake in Axos Financial, Inc, purchasing 35,355 shares valued at approximately $2.69 million during the second quarter, representing about 0.06% ownership of the company.
• Institutional investors and hedge funds own 83.79% of Axos Financial's stock, with several hedge funds, including Nuveen LLC and American Century Companies Inc., significantly increasing their positions in the company.
• Recent earnings reports show Axos Financial exceeded analysts' expectations, reporting $1.94 earnings per share and a revenue increase of 10.5% year-over-year, while analysts have raised target prices for the stock to as high as $106.00.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Axos Financial, Inc (NYSE:AX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,355 shares of the company's stock, valued at approximately $2,688,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.06% of Axos Financial at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of AX. Nuveen LLC acquired a new stake in Axos Financial during the first quarter worth approximately $35,240,000. American Century Companies Inc. boosted its position in Axos Financial by 14.7% during the first quarter. American Century Companies Inc. now owns 2,151,229 shares of the company's stock worth $138,797,000 after acquiring an additional 276,450 shares during the last quarter. Voss Capital LP acquired a new stake in Axos Financial during the first quarter worth approximately $13,401,000. Militia Capital Partners LP boosted its position in Axos Financial by 825.0% during the first quarter. Militia Capital Partners LP now owns 111,000 shares of the company's stock worth $7,162,000 after acquiring an additional 99,000 shares during the last quarter. Finally, Boston Partners boosted its position in Axos Financial by 18.2% during the first quarter. Boston Partners now owns 504,815 shares of the company's stock worth $31,191,000 after acquiring an additional 77,730 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Insider Buying and Selling

In other news, EVP Candace L. Thiele sold 700 shares of the firm's stock in a transaction on Wednesday, September 3rd. The shares were sold at an average price of $90.14, for a total value of $63,098.00. Following the transaction, the executive vice president owned 23 shares of the company's stock, valued at approximately $2,073.22. This trade represents a 96.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Andrew J. Micheletti sold 13,960 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the completion of the transaction, the executive vice president directly owned 67,460 shares in the company, valued at approximately $5,759,734.80. This represents a 17.15% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.85% of the company's stock.

Axos Financial Stock Performance

NYSE:AX opened at $79.10 on Wednesday. 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 company has a market cap of $4.48 billion, a P/E ratio of 10.60 and a beta of 1.29. Axos Financial, Inc has a fifty-two week low of $54.46 and a fifty-two week high of $93.84. The firm's 50 day moving average is $87.08 and its two-hundred day moving average is $78.05.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price on shares of Axos Financial from $94.00 to $100.00 and gave the stock a "market perform" rating in a research report on Monday, September 29th. Raymond James Financial restated an "outperform" rating and set a $100.00 target price (up previously from $95.00) on shares of Axos Financial in a research report on Tuesday, September 23rd. Weiss Ratings restated a "buy (b)" rating on shares of Axos Financial in a research report on Tuesday, October 14th. DA Davidson raised their target price on shares of Axos Financial from $100.00 to $106.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Finally, Needham & Company LLC increased their price target on shares of Axos Financial from $102.00 to $105.00 and gave the stock a "buy" rating in a research note on Monday, September 29th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $96.83.

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.

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