JPMorgan Chase & Co. Boosts Position in Axos Financial, Inc. (NYSE:AX)

JPMorgan Chase & Co. raised its stake in Axos Financial, Inc. (NYSE:AX) by 12.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 281,658 shares of the company’s stock after buying an additional 32,095 shares during the period. JPMorgan Chase & Co.’s holdings in Axos Financial were worth $17,711,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Natixis Advisors LLC increased its stake in shares of Axos Financial by 3.4% during the second quarter. Natixis Advisors LLC now owns 18,303 shares of the company’s stock valued at $1,046,000 after buying an additional 603 shares during the period. Rhumbline Advisers increased its position in Axos Financial by 0.5% during the 2nd quarter. Rhumbline Advisers now owns 167,534 shares of the company’s stock valued at $9,575,000 after purchasing an additional 895 shares during the period. Quest Partners LLC increased its position in Axos Financial by 305.0% during the 2nd quarter. Quest Partners LLC now owns 5,569 shares of the company’s stock valued at $318,000 after purchasing an additional 4,194 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Axos Financial in the 2nd quarter valued at about $180,000. Finally, Texas Permanent School Fund Corp lifted its position in shares of Axos Financial by 32.8% in the 2nd quarter. Texas Permanent School Fund Corp now owns 58,843 shares of the company’s stock worth $3,363,000 after purchasing an additional 14,523 shares during the period. 83.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Axos Financial

In other Axos Financial news, CEO Gregory Garrabrants sold 125,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total value of $10,236,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,340,377 shares of the company’s stock, valued at $109,763,472.53. This trade represents a 8.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Edward James Ratinoff sold 4,002 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $79.41, for a total transaction of $317,798.82. Following the sale, the director now owns 46,209 shares of the company’s stock, valued at approximately $3,669,456.69. The trade was a 7.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is owned by corporate insiders.

Axos Financial Stock Performance

Shares of AX stock opened at $68.97 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. The business has a fifty day moving average of $76.75 and a 200 day moving average of $68.93. The firm has a market capitalization of $3.94 billion, a price-to-earnings ratio of 8.35 and a beta of 1.46. Axos Financial, Inc. has a 1 year low of $44.10 and a 1 year high of $88.46.

Axos Financial (NYSE:AX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. The business had revenue of $512.87 million during the quarter, compared to analyst estimates of $299.59 million. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. During the same quarter last year, the business posted $1.41 EPS. As a group, research analysts expect that Axos Financial, Inc. will post 7.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on AX. Wedbush reduced their price objective on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price target on shares of Axos Financial in a research report on Thursday. StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.20.

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.