Wesbanco Bank Inc. Makes New Investment in Axos Financial, Inc. (NYSE:AX)

Wesbanco Bank Inc. acquired a new stake in Axos Financial, Inc. (NYSE:AX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,300 shares of the company’s stock, valued at approximately $333,000.

Several other institutional investors and hedge funds have also recently modified their holdings of AX. Mercer Global Advisors Inc. ADV increased its stake in Axos Financial by 5.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,291 shares of the company’s stock worth $302,000 after buying an additional 266 shares during the period. CWM LLC increased its position in shares of Axos Financial by 5.4% during the second quarter. CWM LLC now owns 5,208 shares of the company’s stock worth $298,000 after acquiring an additional 269 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Axos Financial by 1.6% in the second quarter. SummerHaven Investment Management LLC now owns 17,645 shares of the company’s stock valued at $1,008,000 after acquiring an additional 281 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Axos Financial by 45.7% in the third quarter. GAMMA Investing LLC now owns 982 shares of the company’s stock valued at $62,000 after purchasing an additional 308 shares during the period. Finally, Foundry Partners LLC boosted its holdings in Axos Financial by 5.8% in the second quarter. Foundry Partners LLC now owns 5,779 shares of the company’s stock valued at $330,000 after purchasing an additional 316 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Activity

In related news, EVP Andrew J. Micheletti sold 5,197 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 424,149 shares in the company, valued at $26,776,526.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.82% of the company’s stock.

Axos Financial Stock Up 1.0 %

Shares of NYSE:AX opened at $66.94 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm has a 50 day simple moving average of $64.38 and a 200-day simple moving average of $60.26. The company has a market capitalization of $3.81 billion, a PE ratio of 9.08 and a beta of 1.39. Axos Financial, Inc. has a twelve month low of $32.05 and a twelve month high of $79.15.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $1.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.80. The firm had revenue of $484.29 million during the quarter, compared to analysts’ expectations 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 previous year, the company earned $1.50 earnings per share. On average, equities analysts predict that Axos Financial, Inc. will post 7.12 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have issued reports on AX. Keefe, Bruyette & Woods lowered Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 price target on the stock. in a research report on Wednesday, July 31st. Wedbush reduced their target price on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday, September 24th. Raymond James boosted their price target on shares of Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Needham & Company LLC started coverage on shares of Axos Financial in a report on Friday, October 11th. They issued a “buy” rating and a $82.00 price objective on the stock. Finally, Piper Sandler boosted their target price on shares of Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $80.20.

Axos Financial 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.