Maryland State Retirement & Pension System Sells 7,635 Shares of Axos Financial, Inc $AX

Maryland State Retirement & Pension System cut its holdings in shares of Axos Financial, Inc (NYSE:AX) by 48.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,104 shares of the company’s stock after selling 7,635 shares during the period. Maryland State Retirement & Pension System’s holdings in Axos Financial were worth $686,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its stake in shares of Axos Financial by 62.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 257,843 shares of the company’s stock valued at $21,538,000 after acquiring an additional 99,042 shares during the last quarter. Argent Capital Management LLC grew its holdings in Axos Financial by 36.7% during the third quarter. Argent Capital Management LLC now owns 53,690 shares of the company’s stock valued at $4,545,000 after purchasing an additional 14,415 shares during the period. Horizon Investment Services LLC bought a new stake in Axos Financial in the second quarter valued at approximately $279,000. CWM LLC increased its stake in Axos Financial by 32.8% in the second quarter. CWM LLC now owns 10,233 shares of the company’s stock valued at $778,000 after purchasing an additional 2,527 shares in the last quarter. Finally, Truist Financial Corp raised its holdings in Axos Financial by 24.5% in the second quarter. Truist Financial Corp now owns 12,483 shares of the company’s stock worth $949,000 after purchasing an additional 2,457 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Axos Financial Stock Performance

Shares of AX opened at $96.21 on Thursday. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of 12.88 and a beta of 1.26. Axos Financial, Inc has a 12 month low of $54.46 and a 12 month high of $97.49. The firm has a fifty day simple moving average of $86.26 and a 200 day simple moving average of $85.61. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.54.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Thursday, October 30th. The company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $1.86 by $0.21. The company had revenue of $323.39 million during the quarter, compared to the consensus estimate of $319.96 million. Axos Financial had a net margin of 22.41% and a return on equity of 16.72%. During the same period in the prior year, the business posted $1.96 EPS. Research analysts forecast that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Insider Activity

In related news, Director Tamara N. Bohlig sold 2,145 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $86.23, for a total transaction of $184,963.35. Following the completion of the transaction, the director directly owned 12,919 shares of the company’s stock, valued at approximately $1,114,005.37. This represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Edward James Ratinoff sold 2,145 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $84.59, for a total value of $181,445.55. Following the completion of the transaction, the director owned 46,209 shares of the company’s stock, valued at approximately $3,908,819.31. This represents a 4.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AX. DA Davidson upped their price objective on shares of Axos Financial from $106.00 to $107.50 and gave the company a “buy” rating in a research report on Monday, December 8th. Needham & Company LLC reissued a “buy” rating and issued a $107.00 target price on shares of Axos Financial in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Finally, Keefe, Bruyette & Woods lifted their price objective on Axos Financial from $94.00 to $100.00 and gave the company a “market perform” rating in a report on Monday, September 29th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $97.42.

Axos Financial Company Profile

Axos Financial, Inc (NYSE: AX) is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.