Dynamic Technology Lab Private Ltd Makes New Investment in Axos Financial, Inc $AX

Dynamic Technology Lab Private Ltd bought a new stake in Axos Financial, Inc (NYSE:AX) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 8,130 shares of the company’s stock, valued at approximately $688,000.

A number of other hedge funds have also recently made changes to their positions in the company. Salomon & Ludwin LLC bought a new stake in shares of Axos Financial during the third quarter worth about $26,000. Bessemer Group Inc. increased its stake in shares of Axos Financial by 59.6% in the third quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock valued at $29,000 after buying an additional 130 shares during the period. EverSource Wealth Advisors LLC raised its holdings in Axos Financial by 294.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock valued at $34,000 after buying an additional 333 shares during the last quarter. Root Financial Partners LLC acquired a new stake in Axos Financial during the 3rd quarter worth approximately $40,000. Finally, Bayforest Capital Ltd acquired a new stake in Axos Financial during the 3rd quarter worth approximately $76,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AX. Zacks Research upgraded shares of Axos Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. DA Davidson boosted their price objective on shares of Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 price objective on shares of Axos Financial in a research note on Friday, February 13th. Finally, Jefferies Financial Group increased their price objective on Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $104.50.

Axos Financial Stock Performance

Shares of AX stock opened at $85.58 on Tuesday. The stock has a market capitalization of $4.85 billion, a PE ratio of 10.85 and a beta of 1.27. The business’s 50 day simple moving average is $93.28 and its 200 day simple moving average is $87.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08. Axos Financial, Inc has a one year low of $54.46 and a one year high of $101.92.

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

Insider Transactions at Axos Financial

In related news, EVP Derrick Walsh sold 4,846 shares of the business’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $101.21, for a total value of $490,463.66. Following the transaction, the executive vice president owned 37,936 shares in the company, valued at $3,839,502.56. The trade was a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James John Court sold 11,163 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $101.01, for a total transaction of $1,127,574.63. Following the sale, the director directly owned 32,169 shares in the company, valued at $3,249,390.69. This trade represents a 25.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 59,303 shares of company stock worth $5,908,474 over the last three months. 4.85% of the stock is owned by company insiders.

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.