Quantbot Technologies LP Reduces Stake in Axos Financial, Inc. (NYSE:AX)

by anlene
February 6, 2023

Axos Financial logo Quantbot Technologies LP lowered its holdings in Axos Financial, Inc. (NYSE:AX – Get Rating) by 46.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investors owned 6,328 shares of the company’s stock after selling 5,454 shares during the period. Quantbot Technologies LP’s holdings in Axos Financial were worth $216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in shares of Axos Financial by 1.7% in the 2nd quarter. Victory Capital Management Inc. now owns 19,711 shares of the company’s stock valued at $707,000 after acquiring an additional 338 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Axos Financial by 1.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,680 shares of the company’s stock valued at $1,279,000 after buying an additional 339 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of Axos Financial by 2.0% during the 2nd quarter. Maryland State Retirement & Pension System now owns 21,902 shares of the company’s stock valued at $785,000 after buying an additional 428 shares in the last quarter. Natixis Advisors LP raised its holdings in shares of Axos Financial by 4.3% during the 1st quarter. Natixis Advisors LP now owns 11,233 shares of the company’s stock valued at $521,000 after buying an additional 460 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Axos Financial by 13.5% during the 2nd quarter. Captrust Financial Advisors now owns 3,926 shares of the company’s stock valued at $141,000 after buying an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 76.97% of the company’s stock.

Axos Financial Price Performance

AX opened at $51.14 on Monday. The stock’s 50 day moving average is $40.19. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.37. Axos Financial, Inc. has a 1 year low of $33.91 and a 1 year high of $56.50. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 11.89 and a beta of 1.44.

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Axos Financial (NYSE:AX – Get Rating) last posted its quarterly earnings results on Thursday, January 26th. The company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.15. The business had revenue of $228.24 million for the quarter, compared to analyst estimates of $217.27 million. Axos Financial had a return on equity of 16.49% and a net margin of 28.47%. Axos Financial’s revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period last year, the company earned $1.04 EPS. As a group, sell-side analysts anticipate that Axos Financial, Inc. will post 4.68 EPS for the current year.

Insider Transactions at Axos Financial

In other news, SVP Ron Pitters sold 2,000 shares of Axos Financial stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $42.54, for a total value of $85,080.00. Following the sale, the senior vice president now directly owns 11,315 shares in the company, valued at approximately $481,340.10. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Andrew J. Micheletti sold 15,000 shares of Axos Financial stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $47.91, for a total value of $718,650.00. Following the sale, the executive vice president now directly owns 524,689 shares in the company, valued at approximately $25,137,849.99. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Ron Pitters sold 2,000 shares of Axos Financial stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $42.54, for a total value of $85,080.00. Following the sale, the senior vice president now owns 11,315 shares in the company, valued at $481,340.10. The disclosure for this sale can be found here. Corporate insiders own 4.81% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AX. StockNews.com began coverage on Axos Financial in a report on Wednesday, October 12th. They set a “hold” rating on the stock. DA Davidson raised their price objective on Axos Financial to $48.00 in a report on Tuesday, November 1st. Piper Sandler raised their price objective on Axos Financial from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, January 27th. Wedbush raised their price objective on Axos Financial from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Monday, January 30th. Finally, Raymond James raised their price target on Axos Financial from $50.00 to $55.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 30th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Axos Financial currently has a consensus rating of “Moderate Buy” and an average target price of $51.00.

Axos Financial Profile

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Axos Financial, Inc is a holding company, which engages in the provision of banking and financing services. It operates through the following segments: Banking Business and Securities Business. The Banking Business segment includes online banking, concierge banking, prepaid card services, and mortgages, vehicles, and unsecured lending through online and telephonic distribution channels.