JPMorgan Chase & Co. Buys 50,902 Shares of Axos Financial, Inc $AX

JPMorgan Chase & Co. raised its stake in shares of Axos Financial, Inc (NYSE:AX) by 18.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 330,886 shares of the company’s stock after purchasing an additional 50,902 shares during the period. JPMorgan Chase & Co.’s holdings in Axos Financial were worth $28,010,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in shares of Axos Financial by 10.5% in the second quarter. American Century Companies Inc. now owns 2,378,121 shares of the company’s stock worth $180,832,000 after purchasing an additional 226,892 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Axos Financial by 8.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 740,652 shares of the company’s stock worth $56,319,000 after acquiring an additional 58,774 shares during the last quarter. Geneva Capital Management LLC increased its stake in Axos Financial by 6.0% in the 2nd quarter. Geneva Capital Management LLC now owns 739,374 shares of the company’s stock worth $56,222,000 after acquiring an additional 42,126 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Axos Financial by 62.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 257,843 shares of the company’s stock worth $21,538,000 after acquiring an additional 99,042 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its position in shares of Axos Financial by 27.6% during the 2nd quarter. Kennedy Capital Management LLC now owns 248,962 shares of the company’s stock valued at $18,931,000 after acquiring an additional 53,927 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on AX shares. DA Davidson boosted their price target on shares of Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Needham & Company LLC restated a “buy” rating and issued a $110.00 target price on shares of Axos Financial in a report on Friday, February 13th. Keefe, Bruyette & Woods upped their target price on shares of Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Finally, Jefferies Financial Group boosted their price objective on Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $104.50.

Axos Financial Price Performance

Axos Financial stock opened at $86.61 on Friday. Axos Financial, Inc has a 12-month low of $54.46 and a 12-month high of $101.92. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $93.30 and a 200-day moving average price of $87.63. The firm has a market capitalization of $4.91 billion, a PE ratio of 10.98 and a beta of 1.27.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Thursday, January 29th. The company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.07 by $0.18. The company had revenue of $385.09 million for the quarter, compared to the consensus estimate of $345.89 million. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. The firm’s revenue was up 25.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.82 EPS. As a group, equities research analysts forecast that Axos Financial, Inc will post 7.22 EPS for the current year.

Insider Activity

In other Axos Financial news, Director James John Court sold 11,163 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.01, for a total value of $1,127,574.63. Following the transaction, the director owned 32,169 shares of the company’s stock, valued at $3,249,390.69. This represents a 25.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Derrick Walsh sold 4,846 shares of Axos Financial stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.21, for a total value of $490,463.66. Following the sale, the executive vice president owned 37,936 shares of the company’s stock, valued at approximately $3,839,502.56. This trade represents a 11.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 63,593 shares of company stock worth $6,274,883 in the last three months. Corporate insiders own 4.85% of the company’s stock.

Axos Financial 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.