Earnest Partners LLC Buys New Stake in Axos Financial, Inc. (NYSE:AX)

Earnest Partners LLC purchased a new position in Axos Financial, Inc. (NYSE:AX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,600 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Lazard Asset Management LLC grew its stake in shares of Axos Financial by 6.1% in the 1st quarter. Lazard Asset Management LLC now owns 260,100 shares of the company’s stock valued at $14,055,000 after purchasing an additional 14,953 shares during the period. GSA Capital Partners LLP lifted its position in shares of Axos Financial by 122.2% during the 1st quarter. GSA Capital Partners LLP now owns 31,440 shares of the company’s stock worth $1,699,000 after buying an additional 17,288 shares during the period. Nomura Holdings Inc. acquired a new stake in Axos Financial in the 4th quarter valued at $5,495,000. First Eagle Investment Management LLC grew its position in Axos Financial by 7.2% in the first quarter. First Eagle Investment Management LLC now owns 187,572 shares of the company’s stock valued at $10,136,000 after acquiring an additional 12,650 shares during the period. Finally, BNP Paribas Financial Markets raised its stake in Axos Financial by 37.6% during the first quarter. BNP Paribas Financial Markets now owns 45,960 shares of the company’s stock worth $2,484,000 after acquiring an additional 12,560 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Insider Buying and Selling at Axos Financial

In other news, EVP Andrew J. Micheletti sold 5,197 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $63.13, for a total transaction of $328,086.61. Following the completion of the sale, the executive vice president now owns 424,149 shares in the company, valued at $26,776,526.37. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 4.82% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Raymond James boosted their target price on shares of Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods downgraded shares of Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 price target for the company. in a report on Wednesday, July 31st. Wedbush decreased their price objective on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, Piper Sandler raised their price objective on shares of Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $79.75.

Axos Financial Stock Performance

Axos Financial stock opened at $62.29 on Friday. The stock has a 50-day simple moving average of $66.76 and a 200 day simple moving average of $59.25. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 8.45 and a beta of 1.40. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. Axos Financial, Inc. has a 12-month low of $32.05 and a 12-month high of $79.15.

Axos Financial (NYSE:AX) last announced its earnings results on Tuesday, July 30th. The company reported $1.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.80. The company had revenue of $484.29 million for the quarter, compared to analyst estimates of $296.02 million. Axos Financial had a net margin of 23.96% and a return on equity of 18.57%. During the same period in the prior year, the business earned $1.50 earnings per share. On average, research analysts anticipate that Axos Financial, Inc. will post 7.17 earnings per share for the current fiscal year.

Axos Financial Company Profile

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.