Redwood Investments LLC Grows Stock Holdings in Axos Financial, Inc. (NYSE:AX)

Redwood Investments LLC lifted its position in Axos Financial, Inc. (NYSE:AX - Free Report) by 192.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,712 shares of the company's stock after acquiring an additional 59,667 shares during the period. Axos Financial makes up approximately 1.7% of Redwood Investments LLC's holdings, making the stock its 16th biggest holding. Redwood Investments LLC owned 0.16% of Axos Financial worth $6,336,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

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

Insider Activity at Axos Financial

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

Axos Financial Price Performance

Shares of AX stock traded up $0.43 on Tuesday, hitting $72.43. 64,279 shares of the company's stock were exchanged, compared to its average volume of 414,035. The stock has a market cap of $4.08 billion, a P/E ratio of 9.74 and a beta of 1.25. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.09 and a quick ratio of 1.09. Axos Financial, Inc. has a 12 month low of $44.10 and a 12 month high of $88.46. The company has a 50 day moving average of $63.87 and a 200 day moving average of $69.89.

Axos Financial (NYSE:AX - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.07. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. The firm had revenue of $432.72 million during the quarter, compared to the consensus estimate of $305.04 million. During the same quarter last year, the firm earned $1.91 earnings per share. 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 approved a share repurchase plan on Monday, May 12th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

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.