Lord Abbett & CO. LLC Has $17.76 Million Holdings in Axos Financial, Inc. (NYSE:AX)

Lord Abbett & CO. LLC cut its stake in Axos Financial, Inc. (NYSE:AX) by 5.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 344,560 shares of the company’s stock after selling 20,400 shares during the period. Lord Abbett & CO. LLC owned about 0.58% of Axos Financial worth $17,759,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. IFP Advisors Inc increased its holdings in Axos Financial by 225.3% during the 3rd quarter. IFP Advisors Inc now owns 527 shares of the company’s stock valued at $29,000 after purchasing an additional 365 shares in the last quarter. Financial Management Professionals Inc. acquired a new stake in Axos Financial during the 3rd quarter valued at $77,000. Hanseatic Management Services Inc. increased its holdings in Axos Financial by 23.6% during the 3rd quarter. Hanseatic Management Services Inc. now owns 1,788 shares of the company’s stock valued at $92,000 after purchasing an additional 341 shares in the last quarter. Wedbush Securities Inc. acquired a new stake in Axos Financial during the 3rd quarter valued at $201,000. Finally, Bridgefront Capital LLC acquired a new stake in Axos Financial during the 2nd quarter valued at $204,000. 76.92% of the stock is owned by institutional investors and hedge funds.

AX opened at $60.46 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.09 and a quick ratio of 1.09. The business’s 50-day moving average price is $57.75 and its two-hundred day moving average price is $52.18. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 16.38 and a beta of 1.51. Axos Financial, Inc. has a 1 year low of $38.32 and a 1 year high of $62.44.

Axos Financial (NYSE:AX) last released its earnings results on Wednesday, October 27th. The company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The business had revenue of $173.34 million for the quarter, compared to the consensus estimate of $167.06 million. Axos Financial had a return on equity of 16.75% and a net margin of 30.84%. Axos Financial’s quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.91 earnings per share. Sell-side analysts anticipate that Axos Financial, Inc. will post 3.94 earnings per share for the current fiscal year.

In other Axos Financial news, EVP Thomas M. Constantine sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 16th. The stock was sold at an average price of $59.88, for a total transaction of $119,760.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Andrew J. Micheletti sold 5,720 shares of the business’s stock in a transaction that occurred on Friday, December 3rd. The stock was sold at an average price of $56.87, for a total value of $325,296.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,038 shares of company stock worth $1,972,998. 4.73% of the stock is owned by company insiders.

AX has been the subject of a number of recent analyst reports. Raymond James raised their price target on Axos Financial from $55.00 to $60.00 and gave the company a “strong-buy” rating in a report on Monday, November 1st. B. Riley raised their price target on Axos Financial from $54.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, November 5th. Finally, Zacks Investment Research lowered Axos Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, January 5th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Axos Financial currently has an average rating of “Buy” and a consensus target price of $57.50.

Axos Financial Profile

Axos Financial, Inc is a holding company, which engages in the provision of banking and financing services. It operates through the following segments: Banking Business and Securities Business. The Banking Business segment includes online banking, concierge banking, prepaid card services, and mortgage, vehicle, and unsecured lending through online and telephonic distribution channels.

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Institutional Ownership by Quarter for Axos Financial (NYSE:AX)

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