Comerica Bank Decreases Stake in Axos Financial, Inc. (NYSE:AX)

Comerica Bank cut its holdings in shares of Axos Financial, Inc. (NYSE:AX) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,487 shares of the company’s stock after selling 307 shares during the period. Comerica Bank’s holdings in Axos Financial were worth $1,361,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AX. Heck Capital Advisors LLC purchased a new position in shares of Axos Financial during the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new stake in shares of Axos Financial during the fourth quarter valued at approximately $52,000. NewEdge Advisors LLC boosted its position in shares of Axos Financial by 1,700.0% during the fourth quarter. NewEdge Advisors LLC now owns 900 shares of the company’s stock valued at $63,000 after purchasing an additional 850 shares in the last quarter. R Squared Ltd bought a new stake in shares of Axos Financial during the fourth quarter valued at approximately $66,000. Finally, SRS Capital Advisors Inc. boosted its position in shares of Axos Financial by 238.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,097 shares of the company’s stock valued at $77,000 after purchasing an additional 773 shares in the last quarter. 83.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AX. Needham & Company LLC restated a “buy” rating and set a $88.00 price target on shares of Axos Financial in a research report on Thursday, May 1st. Keefe, Bruyette & Woods dropped their price target on Axos Financial from $91.00 to $90.00 and set a “market perform” rating on the stock in a research report on Wednesday, January 29th. DA Davidson dropped their price target on Axos Financial from $88.00 to $84.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Raymond James restated an “outperform” rating and set a $72.00 price target (down from $80.00) on shares of Axos Financial in a research report on Friday, May 2nd. Finally, Piper Sandler dropped their price target on Axos Financial from $84.00 to $80.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Axos Financial presently has an average rating of “Moderate Buy” and an average target price of $81.50.

Axos Financial Trading Down 0.4%

Axos Financial stock opened at $68.76 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $62.77 and its two-hundred day simple moving average is $69.63. Axos Financial, Inc. has a 12 month low of $44.10 and a 12 month high of $88.46. The company has a market capitalization of $3.88 billion, a price-to-earnings ratio of 9.24 and a beta of 1.25.

Axos Financial (NYSE:AX) last released its earnings results on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, topping the consensus estimate of $1.74 by $0.07. Axos Financial had a return on equity of 18.67% and a net margin of 22.10%. The business had revenue of $432.72 million for the quarter, compared to the consensus estimate of $305.04 million. During the same period in the previous year, the company posted $1.91 earnings per share. As a group, equities analysts predict that Axos Financial, Inc. will post 7.22 earnings per share for the current fiscal year.

Insider Transactions at Axos Financial

In other news, Director Paul Grinberg sold 30,000 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $68.09, for a total value of $2,042,700.00. Following the completion of the transaction, the director now owns 113,295 shares in the company, valued at $7,714,256.55. The trade was a 20.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sara Wardell-Smith purchased 3,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $64.73 per share, with a total value of $194,190.00. Following the purchase, the director now directly owns 10,250 shares of the company’s stock, valued at approximately $663,482.50. The trade was a 41.38% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 5.07% of the company’s stock.

Axos Financial Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.