Summit Global Investments Increases Stock Holdings in Axos Financial, Inc. (NYSE:AX)

Summit Global Investments boosted its holdings in shares of Axos Financial, Inc. (NYSE:AX) by 2.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 19,681 shares of the company’s stock after buying an additional 482 shares during the quarter. Summit Global Investments’ holdings in Axos Financial were worth $1,238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AX. Hollencrest Capital Management purchased a new position in shares of Axos Financial during the 2nd quarter worth $25,000. EntryPoint Capital LLC lifted its position in Axos Financial by 816.7% during the first quarter. EntryPoint Capital LLC now owns 495 shares of the company’s stock valued at $27,000 after purchasing an additional 441 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in Axos Financial during the third quarter valued at about $27,000. Farther Finance Advisors LLC increased its position in Axos Financial by 881.8% in the third quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock worth $41,000 after buying an additional 582 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of Axos Financial by 122.5% in the first quarter. Advisors Asset Management Inc. now owns 901 shares of the company’s stock worth $49,000 after buying an additional 496 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AX. Keefe, Bruyette & Woods boosted their price objective on Axos Financial from $72.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. StockNews.com lowered shares of Axos Financial from a “hold” rating to a “sell” rating in a research report on Thursday. Raymond James raised their price objective on shares of Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler lifted their target price on shares of Axos Financial from $68.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Wedbush cut their price target on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Axos Financial presently has an average rating of “Hold” and a consensus target price of $79.80.

Axos Financial Price Performance

Shares of NYSE:AX opened at $80.63 on Friday. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 9.76 and a beta of 1.38. The firm has a fifty day moving average price of $65.49 and a 200 day moving average price of $62.36. Axos Financial, Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $82.95. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.08 and a current ratio of 1.08.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.80 by $0.16. The business had revenue of $512.87 million for the quarter, compared to analysts’ expectations of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. During the same quarter in the previous year, the company earned $1.41 EPS. As a group, sell-side analysts expect that Axos Financial, Inc. will post 7.02 earnings per share for the current fiscal year.

Insider Activity at Axos Financial

In other Axos Financial news, EVP Andrew J. Micheletti sold 5,197 shares of Axos Financial stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $63.13, for a total value of $328,086.61. Following the sale, the executive vice president now owns 424,149 shares of the company’s stock, valued at $26,776,526.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Gregory Garrabrants sold 125,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total value of $10,236,250.00. Following the completion of the transaction, the chief executive officer now owns 1,340,377 shares of the company’s stock, valued at approximately $109,763,472.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew J. Micheletti sold 5,197 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $63.13, for a total value of $328,086.61. Following the sale, the executive vice president now directly owns 424,149 shares in the company, valued at $26,776,526.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is owned by corporate insiders.

Axos Financial Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.