Vanguard Group Inc. Sells 31,265 Shares of Axos Financial, Inc $AX

Vanguard Group Inc. decreased its position in Axos Financial, Inc (NYSE:AX) by 0.5% during the 4th quarter, Holdings Channel reports. The firm owned 5,897,415 shares of the company’s stock after selling 31,265 shares during the period. Vanguard Group Inc. owned about 0.10% of Axos Financial worth $508,121,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in AX. Salomon & Ludwin LLC bought a new stake in shares of Axos Financial in the third quarter worth about $26,000. Brown Brothers Harriman & Co. bought a new stake in shares of Axos Financial in the third quarter worth about $29,000. Bessemer Group Inc. grew 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 worth $29,000 after purchasing an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Axos Financial by 294.7% in the second quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after purchasing an additional 333 shares during the last quarter. Finally, Root Financial Partners LLC bought a new stake in shares of Axos Financial in the third quarter worth about $40,000. Institutional investors own 83.79% of the company’s stock.

Axos Financial Stock Performance

Shares of AX opened at $87.29 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.38. The business’s 50 day moving average price is $89.89 and its 200-day moving average price is $88.08. Axos Financial, Inc has a 52 week low of $66.26 and a 52 week high of $101.92. The stock has a market cap of $4.95 billion, a P/E ratio of 10.61 and a beta of 1.30.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.23). The company had revenue of $392.25 million during the quarter, compared to the consensus estimate of $372.51 million. Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.During the same period in the prior year, the firm earned $1.81 earnings per share. Equities research analysts anticipate that Axos Financial, Inc will post 8.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Zacks Research cut Axos Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Needham & Company LLC reiterated a “buy” rating and issued a $110.00 price target on shares of Axos Financial in a report on Monday, March 16th. Weiss Ratings raised Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, April 24th. Keefe, Bruyette & Woods lifted their price objective on Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research report on Friday, January 30th. Finally, Jefferies Financial Group lifted their price objective on Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.40.

Insider Buying and Selling

In related news, EVP Derrick Walsh sold 4,846 shares of the company’s stock in a transaction dated 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Gregory Garrabrants sold 43,294 shares of the company’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $99.10, for a total transaction of $4,290,435.40. Following the completion of the transaction, the chief executive officer owned 1,418,751 shares in the company, valued at approximately $140,598,224.10. The trade was a 2.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 59,303 shares of company stock worth $5,908,474 in the last quarter. 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.