JPMorgan Chase & Co. Buys 50,902 Shares of Axos Financial, Inc $AX

JPMorgan Chase & Co. boosted its stake in shares of Axos Financial, Inc (NYSE:AX) by 18.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 330,886 shares of the company’s stock after purchasing an additional 50,902 shares during the period. JPMorgan Chase & Co. owned about 0.58% of Axos Financial worth $28,010,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Ashton Thomas Private Wealth LLC raised its stake in Axos Financial by 4.0% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 3,382 shares of the company’s stock valued at $286,000 after buying an additional 130 shares during the last quarter. Bessemer Group Inc. grew its holdings in shares of Axos Financial by 59.6% in the third quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock worth $29,000 after acquiring an additional 130 shares during the period. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Axos Financial by 3.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,889 shares of the company’s stock worth $329,000 after acquiring an additional 131 shares during the period. Cetera Investment Advisers increased its position in Axos Financial by 1.8% during the second quarter. Cetera Investment Advisers now owns 8,197 shares of the company’s stock valued at $623,000 after acquiring an additional 141 shares during the last quarter. Finally, Intech Investment Management LLC lifted its holdings in Axos Financial by 0.3% in the second quarter. Intech Investment Management LLC now owns 42,289 shares of the company’s stock valued at $3,216,000 after acquiring an additional 144 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Axos Financial Price Performance

Shares of NYSE:AX opened at $86.61 on Friday. The company has a market capitalization of $4.91 billion, a P/E ratio of 10.98 and a beta of 1.27. Axos Financial, Inc has a 1-year low of $54.46 and a 1-year high of $101.92. The firm’s 50 day simple moving average is $93.30 and its two-hundred day simple moving average is $87.63. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Thursday, January 29th. The company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.18. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. The firm had revenue of $385.09 million during the quarter, compared to analysts’ expectations of $345.89 million. During the same period in the prior year, the company posted $1.82 earnings per share. The company’s revenue for the quarter was up 25.1% compared to the same quarter last year. Research analysts expect that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Tamara N. Bohlig sold 2,145 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $86.23, for a total value of $184,963.35. Following the transaction, the director directly owned 12,919 shares of the company’s stock, valued at approximately $1,114,005.37. The trade was a 14.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James John Court sold 11,163 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $101.01, for a total value of $1,127,574.63. Following the completion of the transaction, the director owned 32,169 shares of the company’s stock, valued at $3,249,390.69. The trade was a 25.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 63,593 shares of company stock worth $6,274,883 in the last three months. 4.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AX shares. Jefferies Financial Group boosted their price target 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 upped their target price on shares of Axos Financial from $107.50 to $112.00 and gave the company a “buy” rating in a report on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price target on shares of Axos Financial in a research note on Friday, February 13th. Finally, Zacks Research upgraded Axos Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Axos Financial presently has an average rating of “Buy” and an average price target of $104.50.

Axos Financial 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.