Allspring Global Investments Holdings LLC Raises Stake in Axos Financial, Inc $AX

Allspring Global Investments Holdings LLC lifted its holdings in shares of Axos Financial, Inc (NYSE:AX) by 38.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 432,739 shares of the company’s stock after buying an additional 119,523 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Axos Financial were worth $37,203,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Jackson Creek Investment Advisors LLC raised its holdings in Axos Financial by 714.0% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 20,725 shares of the company’s stock valued at $1,786,000 after buying an additional 18,179 shares during the last quarter. Stieven Capital Advisors L.P. grew its holdings in Axos Financial by 8.0% in the 4th quarter. Stieven Capital Advisors L.P. now owns 255,859 shares of the company’s stock worth $22,045,000 after acquiring an additional 18,900 shares during the last quarter. Kennedy Capital Management LLC grew its holdings in Axos Financial by 12.3% in the 4th quarter. Kennedy Capital Management LLC now owns 308,935 shares of the company’s stock worth $26,618,000 after acquiring an additional 33,854 shares during the last quarter. Geode Capital Management LLC increased its position 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 valued at $154,687,000 after acquiring an additional 62,269 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Axos Financial by 18.2% in the third quarter. JPMorgan Chase & Co. now owns 330,886 shares of the company’s stock valued at $28,010,000 after acquiring an additional 50,902 shares during the period. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Axos Financial Stock Performance

Axos Financial stock opened at $99.44 on Monday. Axos Financial, Inc has a fifty-two week low of $74.89 and a fifty-two week high of $102.18. The stock’s 50 day simple moving average is $90.79 and its two-hundred day simple moving average is $91.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.15 and a current ratio of 1.15. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 12.08 and a beta of 1.23.

Axos Financial (NYSE:AX) last released its earnings results on Thursday, April 30th. The company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.23). The business had revenue of $392.25 million during the quarter, compared to analysts’ expectations of $372.51 million. Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.During the same period in the prior year, the company earned $1.81 earnings per share. As a group, analysts expect that Axos Financial, Inc will post 8.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Roque A. Santi sold 500 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $87.77, for a total transaction of $43,885.00. Following the completion of the sale, the director owned 7,646 shares of the company’s stock, valued at $671,089.42. This trade represents a 6.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael James Watson sold 1,653 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total value of $138,471.81. Following the completion of the transaction, the executive vice president directly owned 4,592 shares in the company, valued at $384,671.84. This trade represents a 26.47% 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 analysts have recently commented on AX shares. Benchmark assumed coverage on shares of Axos Financial in a research note on Wednesday, July 8th. They set a “buy” rating and a $115.00 price objective for the company. Weiss Ratings upgraded Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Zacks Research lowered Axos Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Finally, Raymond James Financial raised Axos Financial from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $110.00 to $100.00 in a research report on Tuesday, April 7th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $110.33.

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.