Empowered Funds LLC Grows Holdings in Axos Financial, Inc $AX

Empowered Funds LLC raised its holdings in shares of Axos Financial, Inc (NYSE:AX) by 74.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 216,366 shares of the company’s stock after purchasing an additional 92,487 shares during the quarter. Empowered Funds LLC owned 0.38% of Axos Financial worth $18,411,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AX. Royal Bank of Canada increased its stake in Axos Financial by 0.9% in the 1st quarter. Royal Bank of Canada now owns 108,986 shares of the company’s stock worth $7,031,000 after buying an additional 1,015 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Axos Financial by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,539 shares of the company’s stock valued at $2,099,000 after buying an additional 1,429 shares during the period. United Services Automobile Association purchased a new stake in Axos Financial in the 1st quarter valued at about $212,000. Cetera Investment Advisers grew its stake in Axos Financial by 1.8% in the 2nd quarter. Cetera Investment Advisers now owns 8,197 shares of the company’s stock worth $623,000 after acquiring an additional 141 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Axos Financial in the 2nd quarter worth about $6,252,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Axos Financial

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 transaction of $43,885.00. Following the completion of the sale, the director directly owned 7,646 shares of the company’s stock, valued at approximately $671,089.42. This represents a 6.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michael James Watson sold 1,653 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 4,592 shares in the company, valued at $384,671.84. This represents a 26.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.85% of the stock is owned by company insiders.

Axos Financial Price Performance

NYSE AX opened at $99.40 on Wednesday. The company has a market cap of $5.65 billion, a PE ratio of 12.08 and a beta of 1.23. The firm’s 50 day moving average price is $92.60 and its 200-day moving average price is $91.71. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.15 and a current ratio of 1.15. Axos Financial, Inc has a 52-week low of $74.89 and a 52-week high of $102.18.

Axos Financial (NYSE:AX) last posted 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 company had revenue of $392.25 million for 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 quarter in the prior year, the company earned $1.81 EPS. Sell-side analysts forecast that Axos Financial, Inc will post 8.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Zacks Research downgraded shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 8th. Benchmark assumed coverage on Axos Financial in a research note on Wednesday, July 8th. They issued a “buy” rating and a $115.00 price objective on the stock. Weiss Ratings upgraded Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 1st. Finally, Raymond James Financial raised 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 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 data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price 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.