Ieq Capital LLC Acquires New Holdings in Axos Financial, Inc $AX

Ieq Capital LLC bought a new stake in shares of Axos Financial, Inc (NYSE:AX) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 9,540 shares of the company’s stock, valued at approximately $929,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AX. BlackRock Inc. acquired a new position in shares of Axos Financial during the 2nd quarter worth approximately $817,051,000. State Street Corp increased its position in Axos Financial by 0.5% during the fourth quarter. State Street Corp now owns 2,696,323 shares of the company’s stock worth $232,315,000 after buying an additional 13,669 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Axos Financial by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 2,177,003 shares of the company’s stock worth $185,234,000 after buying an additional 7,509 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Axos Financial by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 1,775,539 shares of the company’s stock worth $154,687,000 after acquiring an additional 62,269 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Axos Financial by 8.6% in the second quarter. Ameriprise Financial Inc. now owns 740,652 shares of the company’s stock worth $56,319,000 after acquiring an additional 58,774 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Insider Activity at Axos Financial

In other news, Director Roque A. Santi sold 500 shares of the company’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 completion of the transaction, the director owned 7,146 shares of the company’s stock, valued at $752,473.80. This represents a 6.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.85% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AX. DA Davidson set a $121.00 price objective on 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 company 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 report on Wednesday, July 1st. Keefe, Bruyette & Woods raised their price target 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. Finally, Needham & Company LLC boosted their price objective on shares of Axos Financial from $110.00 to $128.00 and gave the company a “buy” rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.67.

Axos Financial Price Performance

Shares of NYSE:AX opened at $97.36 on Friday. The company has a market cap of $5.52 billion, a P/E ratio of 11.49 and a beta of 1.22. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.35. Axos Financial, Inc has a 52 week low of $74.89 and a 52 week high of $105.74. The business has a fifty day simple moving average of $97.91 and a 200-day simple moving average of $92.44.

Axos Financial (NYSE:AX) last released its earnings results on Thursday, July 30th. The company reported $2.53 EPS for the quarter, beating the consensus estimate of $2.16 by $0.37. Axos Financial had a return on equity of 16.96% and a net margin of 22.39%.The firm had revenue of $379.77 million during the quarter, compared to analyst estimates of $375.54 million. During the same period in the prior year, the firm posted $1.94 earnings per share. Equities research analysts forecast that Axos Financial, Inc will post 9.59 EPS for the current year.

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.