Summit Global Investments Reduces Stock Position in Axos Financial, Inc $AX

Summit Global Investments cut its position in Axos Financial, Inc (NYSE:AX) by 61.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,436 shares of the company’s stock after selling 8,767 shares during the period. Summit Global Investments’ holdings in Axos Financial were worth $463,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Cetera Investment Advisers boosted its position in Axos Financial by 0.7% in the fourth quarter. Cetera Investment Advisers now owns 16,547 shares of the company’s stock valued at $1,426,000 after buying an additional 108 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in Axos Financial by 3.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,495 shares of the company’s stock worth $301,000 after buying an additional 113 shares during the last quarter. Police & Firemen s Retirement System of New Jersey raised its position in Axos Financial by 0.9% during the 4th quarter. Police & Firemen s Retirement System of New Jersey now owns 14,871 shares of the company’s stock worth $1,281,000 after buying an additional 132 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in Axos Financial by 43.2% during the 4th quarter. Salomon & Ludwin LLC now owns 441 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its stake in Axos Financial by 7.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,186 shares of the company’s stock valued at $188,000 after acquiring an additional 146 shares during the period. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Axos Financial Trading Down 0.5%

Shares of NYSE:AX opened at $96.93 on Thursday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38. Axos Financial, Inc has a 12-month low of $74.89 and a 12-month high of $102.18. The business has a 50 day moving average of $91.57 and a two-hundred day moving average of $91.51. The company has a market capitalization of $5.51 billion, a PE ratio of 11.78 and a beta of 1.23.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.23). The firm had revenue of $392.25 million for the quarter, compared to analyst estimates of $372.51 million. Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.During the same period in the previous year, the business earned $1.81 EPS. As a group, analysts forecast that Axos Financial, Inc will post 8.38 EPS for the current year.

Insider Buying and Selling at Axos Financial

In related news, 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 transaction of $43,885.00. Following the sale, the director owned 7,646 shares in the company, valued at approximately $671,089.42. This trade represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael James Watson sold 1,653 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total transaction of $138,471.81. Following the completion of the transaction, the executive vice president owned 4,592 shares of the company’s stock, valued at approximately $384,671.84. This trade represents a 26.47% decrease in their position. The disclosure for this sale is available in the SEC filing. 4.85% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on AX. 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. Raymond James Financial upgraded shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $110.00 to $100.00 in a research report on Tuesday, April 7th. Zacks Research lowered shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Finally, Benchmark started coverage on shares of Axos Financial in a report on Wednesday, July 8th. They issued a “buy” rating and a $115.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Axos Financial currently has an average rating of “Buy” and an average target price of $110.33.

Axos Financial Company 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.