Rhumbline Advisers Has $10.11 Million Stake in Axos Financial, Inc. (NYSE:AX)

Rhumbline Advisers trimmed its holdings in shares of Axos Financial, Inc. (NYSE:AX – Free Report) by 4.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 156,646 shares of the company’s stock after selling 6,627 shares during the period. Rhumbline Advisers’ holdings in Axos Financial were worth $10,107,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Illinois Municipal Retirement Fund increased its holdings in Axos Financial by 0.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 29,916 shares of the company’s stock valued at $2,090,000 after purchasing an additional 196 shares in the last quarter. Versor Investments LP lifted its stake in shares of Axos Financial by 5.3% during the fourth quarter. Versor Investments LP now owns 4,000 shares of the company’s stock valued at $279,000 after acquiring an additional 200 shares during the period. Stifel Financial Corp boosted its holdings in Axos Financial by 3.4% in the fourth quarter. Stifel Financial Corp now owns 7,310 shares of the company’s stock valued at $511,000 after acquiring an additional 241 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Axos Financial by 4.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,717 shares of the company’s stock worth $399,000 after purchasing an additional 254 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its position in Axos Financial by 2.0% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 13,567 shares of the company’s stock worth $948,000 after purchasing an additional 266 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Axos Financial

In other Axos Financial news, Director Paul Grinberg sold 30,000 shares of the company’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $68.09, for a total value of $2,042,700.00. Following the completion of the transaction, the director now owns 113,295 shares of the company’s stock, valued at $7,714,256.55. This represents a 20.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.07% of the stock is owned by insiders.

Axos Financial Price Performance

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Axos Financial stock opened at $72.00 on Tuesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 1.09. Axos Financial, Inc. has a 52 week low of $50.93 and a 52 week high of $88.46. The stock has a market capitalization of $4.06 billion, a P/E ratio of 9.68 and a beta of 1.29. The stock has a fifty day moving average of $65.65 and a 200-day moving average of $68.94.

Axos Financial (NYSE:AX – Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.07. Axos Financial had a return on equity of 18.67% and a net margin of 22.10%. The company had revenue of $432.72 million during the quarter, compared to analysts’ expectations of $305.04 million. During the same quarter in the previous year, the firm earned $1.91 EPS. On average, sell-side analysts expect that Axos Financial, Inc. will post 7.22 earnings per share for the current fiscal year.

Axos Financial declared that its Board of Directors has initiated a share repurchase program on Monday, May 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AX. Jefferies Financial Group began coverage on Axos Financial in a research report on Wednesday, May 21st. They issued a “buy” rating and a $90.00 price objective for the company. Piper Sandler decreased their price objective on Axos Financial from $84.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, May 1st. Needham & Company LLC reiterated a “buy” rating and set a $88.00 target price on shares of Axos Financial in a report on Monday. DA Davidson reduced their target price on Axos Financial from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Finally, Raymond James reiterated an “outperform” rating and set a $72.00 target price (down from $80.00) on shares of Axos Financial in a report on Friday, May 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $82.71.

Check Out Our Latest Stock Report on AX

About Axos Financial

(Free Report)

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.