Renaissance Group LLC Boosts Stock Position in Axos Financial, Inc $AX

Renaissance Group LLC boosted its position in Axos Financial, Inc (NYSE:AX) by 9.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 92,050 shares of the company’s stock after purchasing an additional 7,860 shares during the period. Renaissance Group LLC’s holdings in Axos Financial were worth $7,792,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. American Century Companies Inc. grew its holdings in shares of Axos Financial by 10.5% during the second quarter. American Century Companies Inc. now owns 2,378,121 shares of the company’s stock worth $180,832,000 after buying an additional 226,892 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Axos Financial during the second quarter valued at approximately $9,639,000. Edgestream Partners L.P. boosted its position in Axos Financial by 199.7% during the second quarter. Edgestream Partners L.P. now owns 165,283 shares of the company’s stock worth $12,568,000 after acquiring an additional 110,136 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Axos Financial by 62.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 257,843 shares of the company’s stock worth $21,538,000 after acquiring an additional 99,042 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new position in Axos Financial in the 2nd quarter valued at $6,460,000. 83.79% of the stock is owned by institutional investors and hedge funds.

Axos Financial Stock Performance

Shares of NYSE:AX opened at $101.24 on Friday. The business has a 50-day moving average of $90.28 and a two-hundred day moving average of $86.58. The firm has a market capitalization of $5.74 billion, a PE ratio of 12.83 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08. Axos Financial, Inc has a 12 month low of $54.46 and a 12 month high of $101.70.

Axos Financial (NYSE:AX) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.25 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.18. The business had revenue of $385.09 million for the quarter, compared to analyst estimates of $345.89 million. Axos Financial had a return on equity of 16.98% and a net margin of 22.66%.The company’s revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 EPS. As a group, research analysts forecast that Axos Financial, Inc will post 7.22 earnings per share for the current year.

Insider Activity

In other Axos Financial news, Director Tamara N. Bohlig sold 2,145 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $86.23, for a total transaction of $184,963.35. Following the completion of the sale, the director directly owned 12,919 shares in the company, valued at $1,114,005.37. The trade was a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James John Court sold 11,163 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $101.01, for a total transaction of $1,127,574.63. Following the completion of the sale, the director directly owned 32,169 shares of the company’s stock, valued at $3,249,390.69. The trade was a 25.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 63,593 shares of company stock valued at $6,274,883 over the last quarter. 4.85% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on AX shares. Keefe, Bruyette & Woods increased their price target on Axos Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Zacks Research raised Axos Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Jefferies Financial Group upped their price objective on shares of Axos Financial from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Finally, Needham & Company LLC increased their price objective on shares of Axos Financial from $107.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $104.50.

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.