Ieq Capital LLC Invests $929,000 in Axos Financial, Inc $AX

Ieq Capital LLC bought a new position in Axos Financial, Inc (NYSE:AX) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 9,540 shares of the company’s stock, valued at approximately $929,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Axos Financial during the second quarter valued at about $817,051,000. State Street Corp raised its holdings in shares of Axos Financial by 0.5% in the 4th quarter. State Street Corp now owns 2,696,323 shares of the company’s stock worth $232,315,000 after purchasing an additional 13,669 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Axos Financial by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,177,003 shares of the company’s stock worth $185,234,000 after purchasing an additional 7,509 shares during the period. Geode Capital Management LLC lifted its stake in shares of Axos Financial by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 1,775,539 shares of the company’s stock valued at $154,687,000 after purchasing an additional 62,269 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Axos Financial by 8.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 740,652 shares of the company’s stock valued at $56,319,000 after purchasing an additional 58,774 shares in the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity

In other news, Director Roque A. Santi sold 500 shares of Axos Financial stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $105.30, for a total transaction of $52,650.00. Following the sale, the director directly owned 7,146 shares of the company’s stock, valued at approximately $752,473.80. The trade was a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.85% of the company’s stock.

Axos Financial Price Performance

AX opened at $97.36 on Friday. Axos Financial, Inc has a twelve month low of $74.89 and a twelve month high of $105.74. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 11.49 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $97.91 and a 200 day simple moving average of $92.44.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Thursday, July 30th. The company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.37. The firm had revenue of $379.77 million for the quarter, compared to analyst estimates of $375.54 million. Axos Financial had a net margin of 22.39% and a return on equity of 16.96%. During the same quarter in the previous year, the business posted $1.94 EPS. Equities research analysts expect that Axos Financial, Inc will post 9.59 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AX shares. DA Davidson set a $121.00 target price on Axos Financial in a report on Friday, July 31st. Benchmark lifted their price target on shares of Axos Financial from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods increased their price objective on shares of Axos Financial from $105.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Finally, Needham & Company LLC raised their target price on shares of Axos Financial from $110.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, July 31st. One equities research 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.67.

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.