Bank of New York Mellon Corp Sells 9,138 Shares of Axos Financial, Inc $AX

Bank of New York Mellon Corp cut its holdings in Axos Financial, Inc (NYSE:AX) by 2.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 368,667 shares of the company’s stock after selling 9,138 shares during the period. Bank of New York Mellon Corp’s holdings in Axos Financial were worth $31,370,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Axos Financial by 9.8% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 44,700 shares of the company’s stock worth $3,804,000 after acquiring an additional 4,000 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Axos Financial by 12.7% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 4,238 shares of the company’s stock valued at $361,000 after acquiring an additional 478 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Axos Financial by 4.9% in the 1st quarter. Principal Financial Group Inc. now owns 353,951 shares of the company’s stock worth $30,118,000 after purchasing an additional 16,627 shares during the last quarter. Fifth Third Bancorp lifted its holdings in Axos Financial by 3,056.6% in the 1st quarter. Fifth Third Bancorp now owns 13,826 shares of the company’s stock worth $1,176,000 after purchasing an additional 13,388 shares during the last quarter. Finally, Equitable Trust Co. boosted its position in Axos Financial by 42.2% during the first quarter. Equitable Trust Co. now owns 6,528 shares of the company’s stock worth $555,000 after purchasing an additional 1,937 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Axos Financial Stock Down 0.1%

Shares of NYSE AX opened at $95.75 on Monday. Axos Financial, Inc has a 1 year low of $74.89 and a 1 year high of $102.18. The firm’s 50-day moving average is $92.06 and its 200-day moving average is $91.61. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $5.45 billion, a PE ratio of 11.63 and a beta of 1.23.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.13 by ($0.23). The business had revenue of $392.25 million for the quarter, compared to analyst estimates 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 previous year, the business posted $1.81 EPS. Equities analysts expect that Axos Financial, Inc will post 8.38 EPS for the current year.

Insider Activity

In other Axos Financial news, Director Roque A. Santi sold 500 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $87.77, for a total value of $43,885.00. Following the transaction, the director directly owned 7,646 shares of the company’s stock, valued at $671,089.42. This represents a 6.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael James Watson sold 1,653 shares of Axos Financial stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total value of $138,471.81. Following the sale, the executive vice president directly owned 4,592 shares of the company’s stock, valued at approximately $384,671.84. The trade was a 26.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 4.85% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AX. Raymond James Financial raised shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $110.00 to $100.00 in a research report on Tuesday, April 7th. Zacks Research downgraded Axos Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Weiss Ratings upgraded Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Finally, Benchmark initiated coverage on Axos Financial in a research note on Wednesday, July 8th. They set a “buy” rating and a $115.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Axos Financial has an average rating of “Buy” and a consensus target price of $110.33.

Axos Financial 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.