Axos Financial, Inc $AX Shares Sold by Summit Global Investments

Summit Global Investments trimmed its stake in shares of Axos Financial, Inc (NYSE:AX) by 61.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 5,436 shares of the company’s stock after selling 8,767 shares during the quarter. Summit Global Investments’ holdings in Axos Financial were worth $463,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AX. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Axos Financial during the fourth quarter worth about $26,000. Basepoint Wealth LLC purchased a new position in Axos Financial in the 4th quarter valued at about $28,000. Brown Brothers Harriman & Co. acquired a new stake in Axos Financial in the 3rd quarter worth about $29,000. Torren Management LLC acquired a new stake in Axos Financial in the 4th quarter worth about $36,000. Finally, Salomon & Ludwin LLC increased its stake in Axos Financial by 43.2% during the 4th quarter. Salomon & Ludwin LLC now owns 441 shares of the company’s stock worth $39,000 after buying an additional 133 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity at Axos Financial

In other Axos Financial news, EVP Michael James Watson sold 1,653 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total value of $138,471.81. Following the completion of the transaction, the executive vice president owned 4,592 shares in the company, valued at approximately $384,671.84. This represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Roque A. Santi sold 500 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $87.77, for a total value of $43,885.00. Following the completion of the sale, the director directly owned 7,646 shares of the company’s stock, valued at approximately $671,089.42. This trade represents a 6.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.85% of the stock is owned by company insiders.

Axos Financial Stock Performance

Shares of Axos Financial stock opened at $96.93 on Thursday. The firm’s 50 day moving average is $91.57 and its two-hundred day moving average is $91.51. Axos Financial, Inc has a 52 week low of $74.89 and a 52 week high of $102.18. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $5.51 billion, a P/E ratio of 11.78 and a beta of 1.23.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.90 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $372.51 million. During the same period in the previous year, the company posted $1.81 earnings per share. Research analysts forecast that Axos Financial, Inc will post 8.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on AX shares. Benchmark initiated coverage on Axos Financial in a report on Wednesday, July 8th. They set a “buy” rating and a $115.00 target price for the company. Weiss Ratings raised Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Zacks Research downgraded shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Finally, Raymond James Financial upgraded shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $110.00 to $100.00 in a report on Tuesday, April 7th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $110.33.

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.