WCM Investment Management LLC Increases Holdings in Axos Financial, Inc $AX

Key Points

• WCM Investment Management increased its Axos Financial stake by 36.3% in Q1, adding 25,395 shares to bring its total to 95,366 shares worth about $7.9 million.
• Axos Financial continues to see heavy institutional ownership, with 83.79% of shares held by institutional investors, while insiders own 4.85% of the stock.
• The company reported quarterly EPS of $1.90, missing analyst expectations of $2.13, though revenue came in above estimates at $392.25 million; analysts currently rate the stock a Buy with an average price target of $110.33.

WCM Investment Management LLC increased its position in Axos Financial, Inc (NYSE:AX - Free Report) by 36.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,366 shares of the company's stock after buying an additional 25,395 shares during the quarter. WCM Investment Management LLC owned 0.17% of Axos Financial worth $7,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its stake in shares of Axos Financial by 0.5% during the fourth quarter. State Street Corp now owns 2,696,323 shares of the company's stock worth $232,315,000 after acquiring an additional 13,669 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Axos Financial by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,177,003 shares of the company's stock valued at $185,234,000 after purchasing an additional 7,509 shares during the last quarter. Geode Capital Management LLC raised its position in Axos Financial by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 1,775,539 shares of the company's stock worth $154,687,000 after purchasing an additional 62,269 shares during the period. Ameriprise Financial Inc. raised its position in Axos Financial by 8.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 740,652 shares of the company's stock worth $56,319,000 after purchasing an additional 58,774 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Axos Financial by 7.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 721,572 shares of the company's stock worth $62,171,000 after purchasing an additional 52,250 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Roque A. Santi sold 500 shares of the firm's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $87.77, for a total value of $43,885.00. Following the completion of the sale, the director owned 7,646 shares of the company's stock, valued at $671,089.42. This trade represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael James Watson sold 1,653 shares of the business's stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total transaction of $138,471.81. Following the transaction, the executive vice president directly owned 4,592 shares in the company, valued at approximately $384,671.84. The trade was a 26.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.85% of the stock is currently owned by company insiders.

Axos Financial Stock Performance

Axos Financial stock opened at $97.62 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38. The firm has a market cap of $5.55 billion, a P/E ratio of 11.86 and a beta of 1.23. Axos Financial, Inc has a 1-year low of $74.89 and a 1-year high of $102.18. The firm has a 50-day moving average of $91.03 and a 200-day moving average of $91.35.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $1.90 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.13 by ($0.23). The business had revenue of $392.25 million for the quarter, compared to analysts' expectations of $372.51 million. Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. During the same quarter in the prior year, the firm earned $1.81 EPS. Sell-side analysts expect that Axos Financial, Inc will post 8.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AX. Zacks Research cut Axos Financial from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 8th. Weiss Ratings upgraded Axos Financial from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, July 1st. Benchmark started coverage on Axos Financial in a research note on Wednesday, July 8th. They issued a "buy" rating and a $115.00 price target on the stock. Finally, Raymond James Financial raised Axos Financial from an "outperform" rating to a "strong-buy" rating and dropped their price objective for the company from $110.00 to $100.00 in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $110.33.

Axos Financial Company 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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