Michael James Watson Sells 1,653 Shares of Axos Financial (NYSE:AX) Stock

Axos Financial, Inc (NYSE:AX) EVP Michael James Watson sold 1,653 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total value of $138,471.81. Following the completion of the sale, the executive vice president directly owned 4,592 shares of the company’s stock, valued at approximately $384,671.84. The trade was a 26.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Axos Financial Price Performance

Axos Financial stock opened at $86.10 on Friday. The stock’s 50 day moving average is $88.64 and its 200 day moving average is $88.65. Axos Financial, Inc has a one year low of $67.50 and a one year high of $101.92. The firm has a market cap of $4.90 billion, a P/E ratio of 10.46 and a beta of 1.30. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.15 and a quick ratio of 1.15.

Axos Financial (NYSE:AX) last released its earnings results on Thursday, April 30th. The company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.23). Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. The firm had revenue of $392.25 million for the quarter, compared to analyst estimates of $372.51 million. During the same period in the prior year, the company posted $1.81 EPS. As a group, research analysts expect that Axos Financial, Inc will post 8.57 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Horizon Investment Services LLC boosted its position in shares of Axos Financial by 297.1% during the third quarter. Horizon Investment Services LLC now owns 14,586 shares of the company’s stock valued at $1,235,000 after buying an additional 10,913 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Axos Financial by 1.5% during the third quarter. American Century Companies Inc. now owns 2,413,512 shares of the company’s stock valued at $204,304,000 after purchasing an additional 35,391 shares in the last quarter. JPMorgan Chase & Co. grew its position in Axos Financial by 18.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 330,886 shares of the company’s stock worth $28,010,000 after purchasing an additional 50,902 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Axos Financial by 281.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 40,419 shares of the company’s stock worth $3,386,000 after buying an additional 29,833 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in shares of Axos Financial by 10,897.5% in the 3rd quarter. AlphaQuest LLC now owns 47,839 shares of the company’s stock worth $4,050,000 after buying an additional 47,404 shares during the last quarter. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AX. Jefferies Financial Group boosted their price objective on Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, January 30th. DA Davidson increased their price target on Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $110.00 price objective on shares of Axos Financial in a research report on Monday, March 16th. Zacks Research downgraded shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, Raymond James Financial raised shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $110.00 to $100.00 in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.40.

Axos Financial Company Profile

Axos Financial, Inc (NYSE: AX) is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.