Cetera Trust Company N.A bought a new stake in shares of Axos Financial, Inc (NYSE:AX – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,620 shares of the company’s stock, valued at approximately $547,000.
Other hedge funds have also made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of Axos Financial during the 2nd quarter worth $400,000. Davis Asset Management L.P. purchased a new position in shares of Axos Financial during the second quarter valued at $149,515,000. Foyston Gordon & Payne Inc bought a new stake in shares of Axos Financial in the second quarter valued at about $514,000. Quantbot Technologies LP purchased a new stake in Axos Financial in the second quarter worth about $2,360,000. Finally, Evolve Private Wealth LLC purchased a new stake in Axos Financial in the second quarter worth about $1,400,000. 83.79% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Axos Financial news, Director Roque A. Santi sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $105.30, for a total value of $52,650.00. Following the completion of the sale, the director directly owned 7,146 shares in the company, valued at $752,473.80. This trade represents a 6.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.85% of the stock is currently owned by company insiders.
Axos Financial Stock Performance
Axos Financial (NYSE:AX – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.37. The business had revenue of $379.77 million for the quarter, compared to analysts’ expectations of $375.54 million. Axos Financial had a net margin of 22.39% and a return on equity of 16.96%. During the same period last year, the business earned $1.94 EPS. On average, equities analysts forecast that Axos Financial, Inc will post 9.59 EPS for the current fiscal year.
Analyst Ratings Changes
A number of research analysts have commented on the stock. Benchmark raised their target price 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. Needham & Company LLC increased their price objective 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. DA Davidson set a $121.00 price objective on shares of Axos Financial in a report on Friday, July 31st. Weiss Ratings raised shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Finally, Keefe, Bruyette & Woods boosted 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 note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Axos Financial presently has an average rating of “Moderate Buy” and an average target price of $115.67.
Read Our Latest Stock Analysis on AX
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.
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