Wealth Enhancement Advisory Services LLC Increases Stock Position in Axos Financial, Inc (NYSE:AX)

Wealth Enhancement Advisory Services LLC raised its holdings in Axos Financial, Inc (NYSE:AX - Free Report) by 94.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,017 shares of the company's stock after purchasing an additional 3,901 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Axos Financial were worth $517,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of AX. SummerHaven Investment Management LLC increased its position in Axos Financial by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 13,386 shares of the company's stock worth $864,000 after purchasing an additional 206 shares in the last quarter. SG Americas Securities LLC acquired a new position in Axos Financial in the 1st quarter worth about $750,000. GAMMA Investing LLC boosted its stake 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 in the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Axos Financial during the first quarter valued at about $243,000. Finally, Summit Global Investments boosted its stake in shares of Axos Financial by 33.3% during the first quarter. Summit Global Investments now owns 9,829 shares of the company's stock valued at $634,000 after purchasing an additional 2,457 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

Insider Transactions at Axos Financial

In related news, Director Paul Grinberg sold 30,000 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the transaction, the director directly owned 113,295 shares of the company's stock, valued at $7,714,256.55. This represents a 20.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AX shares. Raymond James Financial lifted their price target on Axos Financial from $72.00 to $90.00 and gave the company an "outperform" rating in a research note on Tuesday. Piper Sandler decreased their price target on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Needham & Company LLC upped their price target on shares of Axos Financial from $88.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. Wall Street Zen cut shares of Axos Financial from a "hold" rating to a "sell" rating in a research report on Saturday. Finally, Jefferies Financial Group assumed coverage on shares of Axos Financial in a research report on Wednesday, May 21st. They issued a "buy" rating and a $90.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $85.86.

Axos Financial Stock Up 0.0%

NYSE AX traded up $0.03 on Wednesday, hitting $84.24. 233,311 shares of the company were exchanged, compared to its average volume of 473,072. The company has a market cap of $4.75 billion, a PE ratio of 11.48 and a beta of 1.29. Axos Financial, Inc has a 12 month low of $54.46 and a 12 month high of $88.46. The stock has a fifty day moving average of $72.80 and a 200-day moving average of $68.56. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.19.

Axos Financial (NYSE:AX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.07. The business had revenue of $432.72 million for 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 period in the prior year, the firm earned $1.91 earnings per share. As a group, analysts forecast that Axos Financial, Inc will post 7.22 earnings per share for the current year.

Axos Financial declared that its board has authorized a share repurchase plan on Monday, May 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are 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.