9,677 Shares in AXOS FINANCIAL, INC (NYSE:AX) Purchased by XTX Topco Ltd

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 bought a new stake in AXOS FINANCIAL, INC (NYSE:AX - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 9,677 shares of the company's stock, valued at approximately $624,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AX. Geode Capital Management LLC lifted its holdings in AXOS FINANCIAL by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,488,259 shares of the company's stock worth $103,975,000 after buying an additional 43,503 shares in the last quarter. Northern Trust Corp increased its position in shares of AXOS FINANCIAL by 4.7% during the fourth quarter. Northern Trust Corp now owns 742,837 shares of the company's stock worth $51,887,000 after acquiring an additional 33,207 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of AXOS FINANCIAL by 8.7% in the fourth quarter. Ameriprise Financial Inc. now owns 677,546 shares of the company's stock worth $47,330,000 after acquiring an additional 54,238 shares in the last quarter. Emerald Advisers LLC boosted its holdings in AXOS FINANCIAL by 11.4% in the first quarter. Emerald Advisers LLC now owns 533,586 shares of the company's stock valued at $34,427,000 after purchasing an additional 54,466 shares during the last quarter. Finally, Invesco Ltd. grew its stake in AXOS FINANCIAL by 7.0% during the 4th quarter. Invesco Ltd. now owns 484,561 shares of the company's stock valued at $33,847,000 after purchasing an additional 31,530 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company's stock.

AXOS FINANCIAL Stock Performance

Shares of NYSE:AX traded down $0.95 on Thursday, reaching $84.12. 293,707 shares of the company's stock were exchanged, compared to its average volume of 364,494. AXOS FINANCIAL, INC has a fifty-two week low of $54.46 and a fifty-two week high of $88.46. The business's 50-day moving average is $79.11 and its two-hundred day moving average is $70.69. 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 firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 11.30 and a beta of 1.32.

AXOS FINANCIAL (NYSE:AX - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.12. AXOS FINANCIAL had a net margin of 22.24% and a return on equity of 17.11%. The firm had revenue of $321.45 million for the quarter, compared to analyst estimates of $311.73 million. During the same quarter in the prior year, the business earned $1.83 earnings per share. AXOS FINANCIAL's quarterly revenue was up 10.5% on a year-over-year basis. As a group, equities research analysts forecast that AXOS FINANCIAL, INC will post 7.22 EPS for the current year.

AXOS FINANCIAL announced that its Board of Directors has authorized a stock buyback plan on Monday, May 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Needham & Company LLC upped their target price on AXOS FINANCIAL from $92.00 to $102.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. DA Davidson upped their price target on shares of AXOS FINANCIAL from $96.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Raymond James Financial reiterated an "outperform" rating and set a $95.00 price objective (up from $90.00) on shares of AXOS FINANCIAL in a research note on Thursday, July 31st. Piper Sandler dropped their target price 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. Finally, Keefe, Bruyette & Woods upped their target price on shares of AXOS FINANCIAL from $90.00 to $94.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, AXOS FINANCIAL currently has a consensus rating of "Moderate Buy" and an average target price of $90.86.

Insider Buying and Selling at AXOS FINANCIAL

In related news, EVP Andrew J. Micheletti sold 13,960 shares of the company's stock in a transaction on Monday, August 4th. The stock was 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 $5,759,734.80. This represents a 17.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.