Axos Financial, Inc. (NYSE:AX – Get Rating) was the recipient of a significant decrease in short interest during the month of 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. Currently, 3.2% of the company's stock are sold short. Based on an average daily trading volume, of 286,000 shares, the days-to-cover ratio is currently 6.0 days.
Analyst Ratings Changes
Several brokerages have recently issued reports on AX. B. Riley lowered their price target on Axos Financial from $58.00 to $49.00 in a research report on Monday, July 11th. Keefe, Bruyette & Woods raised Axos Financial from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $52.00 to $56.00 in a research report on Monday, July 11th. DA Davidson lifted their target price on Axos Financial to $53.00 in a research report on Tuesday, August 9th. Finally, Wedbush downgraded Axos Financial from an "outperform" rating to a "neutral" rating and set a $40.00 target price on the stock. in a research report on Thursday, June 30th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $51.33.
Get Axos Financial alerts:Insiders Place Their Bets
In other Axos Financial news, EVP Andrew J. Micheletti sold 10,000 shares of the stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $47.52, for a total transaction of $475,200.00. Following the transaction, the executive vice president now directly owns 516,689 shares of the company's stock, valued at $24,553,061.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Paul Grinberg sold 2,985 shares of the firm's stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $41.04, for a total value of $122,504.40. Following the sale, the director now directly owns 59,749 shares of the company's stock, valued at $2,452,098.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andrew J. Micheletti sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $47.52, for a total value of $475,200.00. Following the completion of the sale, the executive vice president now directly owns 516,689 shares in the company, valued at $24,553,061.28. The disclosure for this sale can be found here. Insiders have sold 18,870 shares of company stock valued at $851,807 over the last three months. 4.73% of the stock is currently owned by insiders.
Institutional Trading of Axos Financial
Large investors have recently made changes to their positions in the business. Lazard Asset Management LLC bought a new position in Axos Financial in the second quarter valued at about $26,000. National Bank of Canada FI boosted its holdings in Axos Financial by 273.2% during the second quarter. National Bank of Canada FI now owns 765 shares of the company's stock worth $27,000 after buying an additional 560 shares during the last quarter. Exane Derivatives bought a new position in Axos Financial during the first quarter worth about $32,000. Steward Partners Investment Advisory LLC raised its position in shares of Axos Financial by 605.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 839 shares of the company's stock worth $39,000 after purchasing an additional 720 shares during the period. Finally, Fifth Third Bancorp raised its position in shares of Axos Financial by 75.3% during the second quarter. Fifth Third Bancorp now owns 2,245 shares of the company's stock worth $81,000 after purchasing an additional 964 shares during the period. Institutional investors own 77.84% of the company's stock.Axos Financial Stock Down 1.4 %
AX stock opened at $39.74 on Thursday. The business's 50-day simple moving average is $42.66 and its 200 day simple moving average is $39.24. Axos Financial has a twelve month low of $34.11 and a twelve month high of $62.44. The company has a market cap of $2.38 billion, a PE ratio of 10.01 and a beta of 1.40. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.56.
Axos Financial (NYSE:AX – Get Rating) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.12 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $192.51 million during the quarter, compared to analyst estimates of $180.82 million. On average, research analysts anticipate that Axos Financial will post 4.51 earnings per share for the current year.
Axos Financial Company Profile
(Get Rating)
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.
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