XTX Topco Ltd Invests $624,000 in AXOS FINANCIAL, INC (NYSE:AX)

Key Points

• XTX Topco Ltd has acquired 9,677 shares of Axos Financial, Inc for approximately $624,000, indicating growing institutional interest in the company.
• Axos Financial reported a 10.5% year-over-year increase in revenue, with quarterly earnings exceeding analysts' expectations by posting $1.94 EPS.
• The company has authorized a $100 million share buyback program, suggesting that management believes the stock is undervalued.

XTX Topco Ltd purchased a new position in AXOS FINANCIAL, INC (NYSE:AX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,677 shares of the company's stock, valued at approximately $624,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AX. New York State Common Retirement Fund boosted its position in shares of AXOS FINANCIAL by 1.1% during the 1st quarter. New York State Common Retirement Fund now owns 17,143 shares of the company's stock valued at $1,106,000 after acquiring an additional 181 shares during the last quarter. SummerHaven Investment Management LLC boosted its position in shares of AXOS FINANCIAL by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 13,386 shares of the company's stock valued at $864,000 after acquiring an additional 206 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of AXOS FINANCIAL by 1.4% during the 1st quarter. Exchange Traded Concepts LLC now owns 15,844 shares of the company's stock valued at $1,022,000 after acquiring an additional 223 shares during the last quarter. Stifel Financial Corp boosted its position in shares of AXOS FINANCIAL by 3.4% during the 4th quarter. Stifel Financial Corp now owns 7,310 shares of the company's stock valued at $511,000 after acquiring an additional 241 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its position in shares of AXOS FINANCIAL by 4.6% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,717 shares of the company's stock valued at $399,000 after acquiring an additional 254 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other AXOS FINANCIAL news, EVP Andrew J. Micheletti sold 13,960 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $85.38, for a total value of $1,191,904.80. Following the sale, the executive vice president owned 67,460 shares in the company, valued at $5,759,734.80. This trade represents a 17.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.07% of the stock is currently owned by insiders.

AXOS FINANCIAL Trading Up 1.0%

AX stock traded up $0.81 during midday trading on Friday, reaching $84.93. The company's stock had a trading volume of 324,394 shares, compared to its average volume of 359,412. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a fifty day simple moving average of $79.41 and a two-hundred day simple moving average of $70.78. AXOS FINANCIAL, INC has a 1 year low of $54.46 and a 1 year high of $88.46. The firm has a market capitalization of $4.79 billion, a price-to-earnings ratio of 11.39 and a beta of 1.32.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last released its 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. AXOS FINANCIAL had a return on equity of 17.11% and a net margin of 22.24%. The business had revenue of $321.45 million for the quarter, compared to analyst estimates of $311.73 million. During the same quarter last year, the firm posted $1.83 earnings per share. The business's revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts predict that AXOS FINANCIAL, INC will post 7.22 EPS for the current year.

AXOS FINANCIAL declared that its board has initiated a share repurchase program on Monday, May 12th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

AX has been the subject of a number of research reports. Keefe, Bruyette & Woods increased their target price on AXOS FINANCIAL from $90.00 to $94.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Wall Street Zen upgraded AXOS FINANCIAL from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Needham & Company LLC increased their price target on AXOS FINANCIAL from $92.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Piper Sandler decreased their price target on AXOS FINANCIAL from $84.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Jefferies Financial Group assumed coverage on AXOS FINANCIAL in a report on Wednesday, May 21st. They set a "buy" rating and a $90.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $90.86.

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.