Western Wealth Management LLC Buys Shares of 4,800 Axos Financial, Inc. (NYSE:AX)

Western Wealth Management LLC acquired a new stake in shares of Axos Financial, Inc. (NYSE:AX - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,800 shares of the company's stock, valued at approximately $335,000.

A number of other institutional investors also recently bought and sold shares of AX. Boston Partners bought a new position in Axos Financial in the fourth quarter valued at about $29,918,000. Raymond James Financial Inc. bought a new position in shares of Axos Financial in the fourth quarter worth about $16,464,000. American Century Companies Inc. boosted its position in shares of Axos Financial by 9.6% in the fourth quarter. American Century Companies Inc. now owns 1,874,779 shares of the company's stock worth $130,953,000 after purchasing an additional 163,952 shares during the period. Epoch Investment Partners Inc. boosted its position in shares of Axos Financial by 255.3% in the fourth quarter. Epoch Investment Partners Inc. now owns 199,662 shares of the company's stock worth $13,946,000 after purchasing an additional 143,474 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Axos Financial by 45.8% during the 4th quarter. JPMorgan Chase & Co. now owns 410,590 shares of the company's stock valued at $28,680,000 after purchasing an additional 128,932 shares during the period. Institutional investors own 83.79% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Keefe, Bruyette & Woods lowered their price objective on Axos Financial from $91.00 to $90.00 and set a "market perform" rating on the stock in a research report on Wednesday, January 29th. Raymond James reiterated an "outperform" rating and set a $72.00 target price (down previously from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. DA Davidson decreased their target price on Axos Financial from $88.00 to $84.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $88.00 price objective on shares of Axos Financial in a report on Thursday, May 1st. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Axos Financial currently has a consensus rating of "Moderate Buy" and an average price target of $82.71.

Axos Financial Price Performance

Shares of AX traded up $1.90 during midday trading on Tuesday, hitting $71.48. 210,966 shares of the company traded hands, compared to its average volume of 515,544. The firm has a 50 day moving average of $64.53 and a 200-day moving average of $69.72. Axos Financial, Inc. has a 52 week low of $44.10 and a 52 week high of $88.46. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 9.61 and a beta of 1.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 1.09.

Axos Financial (NYSE:AX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.74 by $0.07. Axos Financial had a return on equity of 18.67% and a net margin of 22.10%. The business had revenue of $432.72 million for the quarter, compared to the consensus estimate of $305.04 million. During the same quarter in the previous year, the company posted $1.91 EPS. On average, analysts forecast that Axos Financial, Inc. will post 7.22 EPS for the current fiscal year.

Axos Financial declared that its Board of Directors has approved a share buyback program on Monday, May 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Sara Wardell-Smith bought 3,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average price of $64.73 per share, for a total transaction of $194,190.00. Following the acquisition, the director now owns 10,250 shares in the company, valued at $663,482.50. This trade represents a 41.38% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul Grinberg sold 30,000 shares of Axos Financial stock in a transaction that occurred on 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 completion of the transaction, the director now owns 113,295 shares of the company's stock, valued at approximately $7,714,256.55. This trade represents a 20.94% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.07% of the company's stock.

About Axos Financial

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.