Summit Global Investments Takes $660,000 Position in Axos Financial, Inc $AX

Summit Global Investments purchased a new stake in Axos Financial, Inc (NYSE:AX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 6,778 shares of the company’s stock, valued at approximately $660,000.

A number of other large investors have also added to or reduced their stakes in the stock. Cetera Investment Advisers increased its stake in Axos Financial by 0.7% during the 4th quarter. Cetera Investment Advisers now owns 16,547 shares of the company’s stock worth $1,426,000 after acquiring an additional 108 shares during the period. Ashton Thomas Private Wealth LLC lifted its position in shares of Axos Financial by 3.3% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 3,495 shares of the company’s stock valued at $301,000 after acquiring an additional 113 shares during the period. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of 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 purchasing an additional 132 shares in the last quarter. Salomon & Ludwin LLC grew its holdings in shares of Axos Financial by 43.2% during the 4th quarter. Salomon & Ludwin LLC now owns 441 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of Axos Financial by 7.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,186 shares of the company’s stock worth $188,000 after purchasing an additional 146 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 the 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 completion of the transaction, the director owned 7,146 shares of the company’s stock, valued at approximately $752,473.80. This represents a 6.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael James Watson sold 1,653 shares of the 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 directly owned 4,592 shares of the company’s stock, valued at $384,671.84. This trade represents a 26.47% decrease in their position. The SEC filing for this sale provides additional information. 4.85% of the stock is currently owned by insiders.

Axos Financial Price Performance

Axos Financial stock opened at $102.28 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. Axos Financial, Inc has a 52 week low of $74.89 and a 52 week high of $105.74. The stock has a market capitalization of $5.82 billion, a P/E ratio of 12.08 and a beta of 1.22. The stock has a fifty day moving average of $96.35 and a 200-day moving average of $92.43.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.53 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.37. The business had revenue of $379.77 million during the quarter, compared to the consensus estimate of $375.54 million. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.During the same period in the prior year, the company earned $1.94 EPS. On average, sell-side analysts expect that Axos Financial, Inc will post 9.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AX has been the subject of a number of analyst reports. DA Davidson set a $121.00 price target on Axos Financial in a research note on Friday, July 31st. Benchmark increased their price objective on shares of Axos Financial from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday. 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 report on Friday, July 31st. Keefe, Bruyette & Woods boosted their target price on shares of Axos Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company 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.