Assenagon Asset Management S.A. Cuts Stake in Axos Financial, Inc $AX

Assenagon Asset Management S.A. trimmed its stake in Axos Financial, Inc (NYSE:AX) by 57.0% in the third quarter, Holdings Channel.com reports. The firm owned 22,898 shares of the company’s stock after selling 30,320 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Axos Financial were worth $1,938,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of AX. True Wealth Design LLC boosted its holdings in shares of Axos Financial by 120.9% in the 2nd quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $33,000 after purchasing an additional 237 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Axos Financial by 294.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after buying an additional 333 shares during the period. IFP Advisors Inc boosted its holdings in Axos Financial by 360.7% in the second quarter. IFP Advisors Inc now owns 493 shares of the company’s stock valued at $37,000 after acquiring an additional 386 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Axos Financial in the second quarter valued at $96,000. Finally, Sprucegrove Investment Management Ltd. purchased a new stake in Axos Financial during the second quarter valued at about $99,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Transactions at Axos Financial

In other news, Director Edward James Ratinoff sold 2,145 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was sold at an average price of $84.59, for a total transaction of $181,445.55. Following the completion of the sale, the director directly owned 46,209 shares in the company, valued at $3,908,819.31. This trade represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tamara N. Bohlig sold 2,145 shares of Axos Financial stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $86.23, for a total value of $184,963.35. Following the sale, the director directly owned 12,919 shares in the company, valued at approximately $1,114,005.37. The trade was a 14.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 4.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AX shares. Weiss Ratings restated a “buy (b)” rating on shares of Axos Financial in a research note on Monday. DA Davidson boosted their target price on Axos Financial from $106.00 to $107.50 and gave the stock a “buy” rating in a report on Monday, December 8th. Raymond James Financial restated an “outperform” rating and issued a $100.00 price target (up previously from $95.00) on shares of Axos Financial in a report on Tuesday, September 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Axos Financial from $94.00 to $100.00 and gave the company a “market perform” rating in a research report on Monday, September 29th. Finally, Needham & Company LLC increased their price objective on shares of Axos Financial from $105.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $97.42.

Axos Financial Trading Down 0.3%

AX opened at $88.59 on Wednesday. The firm’s 50 day moving average is $81.64 and its 200-day moving average is $83.35. Axos Financial, Inc has a 52-week low of $54.46 and a 52-week high of $93.84. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $5.02 billion, a P/E ratio of 11.86 and a beta of 1.28.

Axos Financial (NYSE:AX) last announced its earnings results on Thursday, October 30th. The company reported $2.07 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.21. Axos Financial had a net margin of 22.41% and a return on equity of 16.72%. The business had revenue of $323.39 million during the quarter, compared to the consensus estimate of $319.96 million. During the same period in the prior year, the firm earned $1.96 earnings per share. Analysts expect that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Axos Financial Company Profile

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.