Maryland State Retirement & Pension System Has $1.02 Million Stock Holdings in Axos Financial, Inc (NYSE:AX)

Maryland State Retirement & Pension System trimmed its position in Axos Financial, Inc (NYSE:AX) by 13.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,871 shares of the company’s stock after selling 2,394 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Axos Financial were worth $1,024,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Northern Trust Corp increased its holdings in shares of Axos Financial by 4.7% in the fourth quarter. Northern Trust Corp now owns 742,837 shares of the company’s stock valued at $51,887,000 after purchasing an additional 33,207 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Axos Financial by 8.7% during the 4th quarter. Ameriprise Financial Inc. now owns 677,546 shares of the company’s stock worth $47,330,000 after buying an additional 54,238 shares during the period. Emerald Advisers LLC grew its stake in Axos Financial by 11.4% in the 1st quarter. Emerald Advisers LLC now owns 533,586 shares of the company’s stock valued at $34,427,000 after buying an additional 54,466 shares during the last quarter. Invesco Ltd. raised its holdings in Axos Financial by 7.0% in the 4th quarter. Invesco Ltd. now owns 484,561 shares of the company’s stock valued at $33,847,000 after acquiring an additional 31,530 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Axos Financial by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 347,799 shares of the company’s stock valued at $22,440,000 after acquiring an additional 9,881 shares during the period. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AX. Jefferies Financial Group began coverage on Axos Financial in a research report on Wednesday, May 21st. They issued a “buy” rating and a $90.00 target price on the stock. Wall Street Zen raised Axos Financial from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Needham & Company LLC increased their price objective on Axos Financial from $92.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. DA Davidson boosted their target price on shares of Axos Financial from $96.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods upped their price target on shares of Axos Financial from $90.00 to $94.00 and gave the company a “market perform” rating in a research note on Thursday, July 31st. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Axos Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.86.

Insider Activity at Axos Financial

In other news, EVP Andrew J. Micheletti sold 13,960 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 67,460 shares of the company’s stock, valued at approximately $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 is accessible through this hyperlink. Insiders own 5.07% of the company’s stock.

Axos Financial Price Performance

Shares of NYSE AX opened at $84.49 on Tuesday. The business has a fifty day moving average price of $79.71 and a two-hundred day moving average price of $70.86. The stock has a market capitalization of $4.76 billion, a PE ratio of 11.33 and a beta of 1.32. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.09 and a quick ratio of 1.09. Axos Financial, Inc has a fifty-two week low of $54.46 and a fifty-two week high of $88.46.

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

Axos Financial announced that its board has authorized a stock repurchase program on Monday, May 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

About Axos Financial

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.