Fifth Third Bancorp Has $1.18 Million Stake in Axos Financial, Inc $AX

Fifth Third Bancorp grew its position in Axos Financial, Inc (NYSE:AX) by 3,056.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,826 shares of the company’s stock after purchasing an additional 13,388 shares during the period. Fifth Third Bancorp’s holdings in Axos Financial were worth $1,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Axos Financial by 0.5% during the fourth quarter. State Street Corp now owns 2,696,323 shares of the company’s stock worth $232,315,000 after buying an additional 13,669 shares in the last quarter. Geode Capital Management LLC raised its position in Axos Financial by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 1,775,539 shares of the company’s stock valued at $154,687,000 after buying an additional 62,269 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Axos Financial by 8.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 740,652 shares of the company’s stock valued at $56,319,000 after acquiring an additional 58,774 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Axos Financial by 7.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 721,572 shares of the company’s stock valued at $62,171,000 after acquiring an additional 52,250 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Axos Financial by 1.5% during the 3rd quarter. Northern Trust Corp now owns 689,760 shares of the company’s stock worth $58,388,000 after acquiring an additional 10,097 shares during the last quarter. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Axos Financial

In other news, Director Roque A. Santi sold 500 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $87.77, for a total value of $43,885.00. Following the completion of the sale, the director owned 7,646 shares of the company’s stock, valued at approximately $671,089.42. This represents a 6.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael James Watson sold 1,653 shares of the firm’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $83.77, for a total transaction of $138,471.81. Following the completion of the transaction, the executive vice president directly owned 4,592 shares of the company’s stock, valued at $384,671.84. This 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.

Analyst Ratings Changes

Several brokerages have recently weighed in on AX. Weiss Ratings raised shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, July 1st. Benchmark initiated coverage on shares of Axos Financial in a research report on Wednesday, July 8th. They issued a “buy” rating and a $115.00 price objective on the stock. Zacks Research cut shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 8th. Finally, Raymond James Financial raised shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $110.00 to $100.00 in a research report on Tuesday, April 7th. Two research 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $110.33.

Axos Financial Stock Performance

AX opened at $95.75 on Friday. The business’s 50-day simple moving average is $92.06 and its 200 day simple moving average is $91.60. Axos Financial, Inc has a 52-week low of $74.89 and a 52-week high of $102.18. 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 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 posted its quarterly 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 company had revenue of $392.25 million during the quarter, compared to the consensus estimate of $372.51 million. Axos Financial had a net margin of 22.53% and a return on equity of 16.48%. During the same quarter in the prior year, the business earned $1.81 earnings per share. As a group, sell-side analysts expect that Axos Financial, Inc will post 8.38 earnings per share 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.