Empowered Funds LLC Takes $24.45 Million Position in Axos Financial, Inc $AX

Empowered Funds LLC bought a new position in shares of Axos Financial, Inc (NYSE:AX) in the second quarter, Holdings Channel reports. The institutional investor bought 251,087 shares of the company’s stock, valued at approximately $24,453,000.

Several other hedge funds have also recently modified their holdings of AX. Eurizon Capital SGR S.p.A. purchased a new stake in Axos Financial during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new position in shares of Axos Financial in the fourth quarter valued at approximately $28,000. Brown Brothers Harriman & Co. purchased a new position in shares of Axos Financial in the third quarter valued at approximately $29,000. State of Wyoming acquired a new stake in shares of Axos Financial in the first quarter worth approximately $30,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Axos Financial by 294.7% in the second quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after acquiring an additional 333 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Axos Financial Stock Performance

Shares of Axos Financial stock opened at $97.36 on Friday. Axos Financial, Inc has a one year low of $74.89 and a one year high of $105.74. The company 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 debt-to-equity ratio of 0.35, a quick ratio of 1.07 and a current ratio of 1.07. The business’s 50 day moving average price is $97.91 and its 200 day moving average price is $92.44.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AX shares. Keefe, Bruyette & Woods increased their price objective on Axos Financial from $105.00 to $110.00 and gave the company a “market perform” rating in a research note on Friday, July 31st. DA Davidson set a $121.00 target price on shares of Axos Financial in a research note on Friday, July 31st. Benchmark upped their target price on shares of Axos Financial from $115.00 to $120.00 and gave the stock a “buy” rating in a 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 report on Wednesday, July 1st. Finally, Needham & Company LLC raised their price target on shares of Axos Financial from $110.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $115.67.

Insider Activity at Axos Financial

In other news, Director Roque A. Santi sold 500 shares of the business’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.30, for a total transaction of $52,650.00. Following the transaction, the director owned 7,146 shares of the company’s stock, valued at approximately $752,473.80. The trade was a 6.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.85% of the stock is currently owned by corporate insiders.

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.