Axos Financial, Inc. (NYSE:AX – Get Rating) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 1,720,000 shares, a decrease of 9.0% from the August 15th total of 1,890,000 shares. Based on an average daily trading volume, of 286,000 shares, the days-to-cover ratio is presently 6.0 days. Approximately 3.2% of the company's shares are short sold.
Insiders Place Their Bets
In related news, EVP Thomas M. Constantine sold 4,331 shares of the firm's stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $42.84, for a total value of $185,540.04. Following the transaction, the executive vice president now owns 14,245 shares in the company, valued at $610,255.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Thomas M. Constantine sold 4,331 shares of the business's stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $42.84, for a total transaction of $185,540.04. Following the completion of the sale, the executive vice president now directly owns 14,245 shares of the company's stock, valued at $610,255.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul Grinberg sold 2,985 shares of the stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $41.04, for a total transaction of $122,504.40. Following the completion of the transaction, the director now owns 59,749 shares in the company, valued at $2,452,098.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,870 shares of company stock valued at $851,807. 4.73% of the stock is currently owned by corporate insiders.
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Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in shares of Axos Financial by 1.7% during the second quarter. Victory Capital Management Inc. now owns 19,711 shares of the company's stock worth $707,000 after buying an additional 338 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Axos Financial by 1.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 35,680 shares of the company's stock worth $1,279,000 after acquiring an additional 339 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Axos Financial by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 7,716 shares of the company's stock valued at $358,000 after purchasing an additional 400 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Axos Financial by 2.0% in the second quarter. Maryland State Retirement & Pension System now owns 21,902 shares of the company's stock worth $785,000 after purchasing an additional 428 shares in the last quarter. Finally, Van Hulzen Asset Management LLC boosted its holdings in Axos Financial by 3.3% during the first quarter. Van Hulzen Asset Management LLC now owns 13,520 shares of the company's stock worth $627,000 after purchasing an additional 430 shares during the last quarter. Institutional investors and hedge funds own 77.84% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on AX. B. Riley dropped their price objective on Axos Financial from $58.00 to $49.00 in a report on Monday, July 11th. Keefe, Bruyette & Woods upgraded Axos Financial from a "market perform" rating to an "outperform" rating and boosted their target price for the stock from $52.00 to $56.00 in a research report on Monday, July 11th. DA Davidson increased their price target on shares of Axos Financial to $53.00 in a research report on Tuesday, August 9th. Finally, Wedbush cut shares of Axos Financial from an "outperform" rating to a "neutral" rating and set a $40.00 price objective for the company. in a report on Thursday, June 30th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $51.33.
Axos Financial Trading Down 0.6 %
NYSE:AX traded down $0.26 on Tuesday, reaching $40.42. The company's stock had a trading volume of 13,257 shares, compared to its average volume of 285,670. Axos Financial has a 1-year low of $34.11 and a 1-year high of $62.44. The business's 50-day moving average price is $42.70 and its two-hundred day moving average price is $39.20. The firm has a market cap of $2.42 billion, a PE ratio of 10.25 and a beta of 1.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.09 and a current ratio of 1.09.
Axos Financial (NYSE:AX – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.10. Axos Financial had a return on equity of 16.53% and a net margin of 31.14%. The business had revenue of $192.51 million during the quarter, compared to analyst estimates of $180.82 million. Equities research analysts anticipate that Axos Financial will post 4.51 earnings per share for the current fiscal year.
Axos Financial Company Profile
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Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through Banking Business and Securities Business segments. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.
Further Reading
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