Geneva Capital Management LLC Lowers Stake in Axos Financial, Inc (NYSE:AX)

Geneva Capital Management LLC reduced its holdings in shares of Axos Financial, Inc (NYSE:AX) by 0.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 697,248 shares of the company’s stock after selling 2,652 shares during the period. Geneva Capital Management LLC owned approximately 1.24% of Axos Financial worth $44,986,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its position in Axos Financial by 45.8% in the 4th quarter. JPMorgan Chase & Co. now owns 410,590 shares of the company’s stock valued at $28,680,000 after buying an additional 128,932 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Axos Financial in the fourth quarter valued at $223,000. Alliancebernstein L.P. lifted its holdings in Axos Financial by 0.8% in the fourth quarter. Alliancebernstein L.P. now owns 70,885 shares of the company’s stock valued at $4,951,000 after acquiring an additional 532 shares during the period. Geode Capital Management LLC lifted its holdings in Axos Financial by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,488,259 shares of the company’s stock valued at $103,975,000 after acquiring an additional 43,503 shares during the period. Finally, Trexquant Investment LP lifted its holdings in Axos Financial by 152.2% in the fourth quarter. Trexquant Investment LP now owns 43,888 shares of the company’s stock valued at $3,066,000 after acquiring an additional 26,485 shares during the period. 83.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on AX. Raymond James Financial reissued an “outperform” rating and issued a $95.00 target price (up previously from $90.00) on shares of Axos Financial in a report on Thursday. Jefferies Financial Group began coverage on Axos Financial in a report on Wednesday, May 21st. They issued a “buy” rating and a $90.00 target price for the company. Piper Sandler reduced their target price on Axos Financial from $84.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Keefe, Bruyette & Woods lifted their price target on Axos Financial from $90.00 to $94.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Wall Street Zen raised Axos Financial from a “sell” rating to a “hold” rating in a research note on Saturday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Axos Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.86.

Axos Financial Trading Down 2.3%

NYSE:AX opened at $84.38 on Monday. The company has a market capitalization of $4.76 billion, a PE ratio of 11.31 and a beta of 1.32. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.17. Axos Financial, Inc has a 52-week low of $54.46 and a 52-week high of $88.46. The stock has a fifty day simple moving average of $77.92 and a 200-day simple moving average of $70.30.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Wednesday, July 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.12. Axos Financial had a return on equity of 17.11% and a net margin of 22.24%. The business had revenue of $321.45 million during the quarter, compared to the consensus estimate of $311.73 million. During the same quarter in the previous year, the company posted $1.83 EPS. The business’s revenue was up 10.5% on a year-over-year basis. On average, equities research analysts expect that Axos Financial, Inc will post 7.22 earnings per share for the current fiscal year.

Axos Financial declared that its Board of Directors has authorized a stock repurchase plan on Monday, May 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.