Northern Trust Corp Boosts Stock Holdings in Axos Financial, Inc. (NYSE:AX)

Northern Trust Corp raised its stake in Axos Financial, Inc. (NYSE:AX - Free Report) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 742,837 shares of the company's stock after acquiring an additional 33,207 shares during the quarter. Northern Trust Corp owned approximately 1.30% of Axos Financial worth $51,887,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Illinois Municipal Retirement Fund lifted its holdings in shares of Axos Financial by 0.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 29,916 shares of the company's stock worth $2,090,000 after acquiring an additional 196 shares during the last quarter. Versor Investments LP lifted its holdings in shares of Axos Financial by 5.3% in the fourth quarter. Versor Investments LP now owns 4,000 shares of the company's stock worth $279,000 after acquiring an additional 200 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Axos Financial by 3.4% in the fourth quarter. Stifel Financial Corp now owns 7,310 shares of the company's stock worth $511,000 after acquiring an additional 241 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in Axos Financial by 4.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,717 shares of the company's stock valued at $399,000 after buying an additional 254 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in Axos Financial by 2.0% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 13,567 shares of the company's stock valued at $948,000 after buying an additional 266 shares during the last quarter. Institutional investors own 83.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on AX shares. Piper Sandler dropped their price objective on shares of Axos Financial from $84.00 to $80.00 and set an "overweight" rating for the company in a report on Thursday, May 1st. DA Davidson dropped their price objective on shares of Axos Financial from $88.00 to $84.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Needham & Company LLC reiterated a "buy" rating and issued a $88.00 price objective on shares of Axos Financial in a report on Thursday, May 1st. Raymond James reiterated an "outperform" rating and issued a $72.00 price objective (down previously from $80.00) on shares of Axos Financial in a report on Friday, May 2nd. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of Axos Financial from $91.00 to $90.00 and set a "market perform" rating for the company in a report on Wednesday, January 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Axos Financial has an average rating of "Moderate Buy" and a consensus target price of $81.50.

Axos Financial Trading Up 1.7%

NYSE:AX traded up $1.26 on Tuesday, reaching $73.49. 58,917 shares of the stock traded hands, compared to its average volume of 519,225. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 9.88 and a beta of 1.25. The company's 50 day moving average is $62.92 and its 200-day moving average is $69.68. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20. Axos Financial, Inc. has a 1-year low of $44.10 and a 1-year high of $88.46.

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

Axos Financial announced that its Board of Directors has approved a share repurchase program on Monday, May 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Paul Grinberg sold 30,000 shares of Axos Financial stock in a transaction on Monday, May 5th. The shares were sold at an average price of $68.09, for a total value of $2,042,700.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sara Wardell-Smith purchased 3,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $64.73 per share, with a total value of $194,190.00. Following the purchase, the director now directly owns 10,250 shares in the company, valued at $663,482.50. This represents a 41.38% increase in their position. The disclosure for this purchase can be found here. 5.07% of the stock is owned by insiders.

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.