Andrew J. Micheletti Sells 13,960 Shares of Axos Financial, Inc (NYSE:AX) Stock

Axos Financial, Inc (NYSE:AX) EVP Andrew J. Micheletti sold 13,960 shares of the company’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $85.38, for a total transaction of $1,191,904.80. Following the transaction, the executive vice president directly owned 67,460 shares of the company’s stock, valued at $5,759,734.80. This represents a 17.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Axos Financial Stock Down 0.7%

Shares of NYSE AX opened at $85.28 on Thursday. Axos Financial, Inc has a 52-week low of $54.46 and a 52-week high of $88.46. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.09 and a current ratio of 1.09. The business has a fifty day moving average of $78.83 and a two-hundred day moving average of $70.61. The stock has a market cap of $4.81 billion, a PE ratio of 11.43 and a beta of 1.32.

Axos Financial (NYSE:AX) last announced its earnings results on Wednesday, July 30th. The company reported $1.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.12. The business had revenue of $321.45 million during the quarter, compared to analysts’ expectations of $311.73 million. Axos Financial had a net margin of 22.24% and a return on equity of 17.11%. The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the company posted $1.83 EPS. As a group, 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 approved a stock repurchase program on Monday, May 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Axos Financial

A number of large investors have recently bought and sold shares of AX. True Wealth Design LLC grew its holdings in shares of Axos Financial by 120.9% during the second quarter. True Wealth Design LLC now owns 433 shares of the company’s stock worth $33,000 after purchasing an additional 237 shares during the last quarter. Savant Capital LLC lifted its position in Axos Financial by 149.1% during the 2nd quarter. Savant Capital LLC now owns 19,047 shares of the company’s stock worth $1,448,000 after buying an additional 11,402 shares in the last quarter. Horizon Investment Services LLC bought a new stake in Axos Financial during the 2nd quarter worth about $279,000. Cetera Trust Company N.A increased its position in Axos Financial by 6.6% in the 2nd quarter. Cetera Trust Company N.A now owns 5,470 shares of the company’s stock valued at $416,000 after acquiring an additional 340 shares in the last quarter. Finally, Sprucegrove Investment Management Ltd. bought a new position in shares of Axos Financial in the second quarter worth about $99,000. 83.79% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Needham & Company LLC upped their price target on Axos Financial from $92.00 to $102.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Wall Street Zen raised Axos Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Piper Sandler decreased their price target on shares of Axos Financial from $84.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Jefferies Financial Group began coverage on shares of Axos Financial in a research note on Wednesday, May 21st. They issued a “buy” rating and a $90.00 price objective for the company. Finally, Raymond James Financial reiterated an “outperform” rating and set a $95.00 target price (up from $90.00) on shares of Axos Financial in a research report on Thursday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.86.

Axos Financial Company 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.