Davis Asset Management L.P. Invests $149.51 Million in Axos Financial, Inc $AX

Davis Asset Management L.P. purchased a new stake in Axos Financial, Inc (NYSE:AX) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,535,219 shares of the company’s stock, valued at approximately $149,515,000. Axos Financial accounts for about 3.8% of Davis Asset Management L.P.’s holdings, making the stock its 10th biggest holding.

A number of other institutional investors have also recently modified their holdings of AX. BlackRock Inc. acquired a new position in Axos Financial during the second quarter worth $817,051,000. Bank of New York Mellon Corp purchased a new position in Axos Financial in the second quarter worth $36,816,000. Franklin Resources Inc. lifted its holdings in Axos Financial by 198.0% in the third quarter. Franklin Resources Inc. now owns 414,178 shares of the company’s stock valued at $35,060,000 after acquiring an additional 275,191 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Axos Financial by 56.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 371,086 shares of the company’s stock valued at $31,973,000 after acquiring an additional 133,529 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Axos Financial by 38.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 432,739 shares of the company’s stock worth $37,203,000 after purchasing an additional 119,523 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Axos Financial Stock Up 0.7%

AX opened at $96.62 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 11.41 and a beta of 1.22. Axos Financial, Inc has a one year low of $74.89 and a one year high of $105.74. The business’s fifty day moving average is $97.18 and its two-hundred day moving average is $92.52.

Analyst Ratings Changes

A number of research firms have recently weighed in on AX. Needham & Company LLC upped their price target on shares of Axos Financial from $110.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Keefe, Bruyette & Woods raised their price objective on shares of Axos Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. DA Davidson set a $121.00 price objective on shares of Axos Financial in a report on Friday, July 31st. Benchmark upped their target price on shares of Axos Financial from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Finally, Weiss Ratings raised shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Axos Financial presently has a consensus rating of “Moderate Buy” and an average target price of $115.67.

Insider Activity at Axos Financial

In related news, Director Roque A. Santi sold 500 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.30, for a total value of $52,650.00. Following the sale, the director directly owned 7,146 shares in the company, valued at $752,473.80. The trade was a 6.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.85% of the stock is owned by corporate insiders.

About Axos Financial

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.