Connor Clark & Lunn Investment Management Ltd. Takes Position in Axos Financial, Inc $AX

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Axos Financial, Inc (NYSE:AX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,448 shares of the company’s stock, valued at approximately $566,000.

Other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in Axos Financial by 120.9% during the 2nd quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $33,000 after acquiring an additional 237 shares in the last quarter. IFP Advisors Inc lifted its position in shares of Axos Financial by 360.7% during the second quarter. IFP Advisors Inc now owns 493 shares of the company’s stock worth $37,000 after purchasing an additional 386 shares during the last quarter. Sprucegrove Investment Management Ltd. bought a new position in shares of Axos Financial during the second quarter worth about $99,000. Quarry LP acquired a new position in Axos Financial in the first quarter worth about $119,000. Finally, GAMMA Investing LLC increased its holdings in Axos Financial by 6.9% in the second quarter. GAMMA Investing LLC now owns 1,960 shares of the company’s stock valued at $149,000 after buying an additional 126 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Candace L. Thiele sold 700 shares of Axos Financial stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $90.14, for a total transaction of $63,098.00. Following the completion of the sale, the executive vice president owned 23 shares of the company’s stock, valued at approximately $2,073.22. This trade represents a 96.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.85% of the company’s stock.

Axos Financial Stock Performance

Shares of AX opened at $77.10 on Thursday. The company has a market capitalization of $4.37 billion, a PE ratio of 10.33 and a beta of 1.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09. The company’s 50 day moving average price is $82.65 and its 200 day moving average price is $80.93. Axos Financial, Inc has a 52 week low of $54.46 and a 52 week high of $93.84.

Axos Financial (NYSE:AX) last released its earnings results on Thursday, October 30th. The company reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.21. The company had revenue of $323.39 million during the quarter, compared to the consensus estimate of $319.96 million. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. During the same quarter in the prior year, the firm earned $1.96 EPS. Research analysts expect that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Wall Street Zen raised Axos Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Raymond James Financial restated an “outperform” rating and issued a $100.00 price target (up from $95.00) on shares of Axos Financial in a research report on Tuesday, September 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Axos Financial in a report on Monday. DA Davidson raised their target price on Axos Financial from $100.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Axos Financial from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, September 29th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.17.

Axos Financial Company Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.