Quest Partners LLC Cuts Stake in Axos Financial, Inc. (NYSE:AX)

Quest Partners LLC decreased its stake in Axos Financial, Inc. (NYSE:AX) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,291 shares of the company’s stock after selling 278 shares during the period. Quest Partners LLC’s holdings in Axos Financial were worth $333,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. SG Americas Securities LLC boosted its position in Axos Financial by 453.9% in the 2nd quarter. SG Americas Securities LLC now owns 32,124 shares of the company’s stock valued at $1,836,000 after buying an additional 26,324 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Axos Financial by 19.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 50,460 shares of the company’s stock valued at $2,727,000 after purchasing an additional 8,322 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Axos Financial by 130.1% in the first quarter. Janus Henderson Group PLC now owns 55,640 shares of the company’s stock valued at $3,007,000 after purchasing an additional 31,464 shares during the last quarter. Maverick Capital Ltd. increased its holdings in Axos Financial by 287.4% during the 2nd quarter. Maverick Capital Ltd. now owns 36,200 shares of the company’s stock worth $2,069,000 after purchasing an additional 26,855 shares during the last quarter. Finally, Algert Global LLC increased its holdings in Axos Financial by 9.9% during the 2nd quarter. Algert Global LLC now owns 183,352 shares of the company’s stock worth $10,479,000 after purchasing an additional 16,448 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wedbush decreased their price target on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Needham & Company LLC raised their price objective on shares of Axos Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods upped their target price on shares of Axos Financial from $72.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, November 1st. Piper Sandler lifted their price target on Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Raymond James boosted their price objective on Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $79.80.

Insider Buying and Selling

In other Axos Financial news, CEO Gregory Garrabrants sold 125,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total value of $10,236,250.00. Following the sale, the chief executive officer now owns 1,340,377 shares in the company, valued at approximately $109,763,472.53. This trade represents a 8.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Edward James Ratinoff sold 4,002 shares of Axos Financial stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $79.41, for a total value of $317,798.82. Following the sale, the director now directly owns 46,209 shares in the company, valued at approximately $3,669,456.69. This trade represents a 7.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,199 shares of company stock worth $10,882,135 in the last three months. 5.07% of the stock is owned by insiders.

Axos Financial Price Performance

Shares of NYSE:AX opened at $86.60 on Tuesday. The company has a market cap of $4.94 billion, a PE ratio of 10.48 and a beta of 1.38. Axos Financial, Inc. has a fifty-two week low of $36.93 and a fifty-two week high of $88.46. The firm has a 50-day simple moving average of $68.90 and a 200 day simple moving average of $64.32. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17.

Axos Financial (NYSE:AX) last posted its earnings results on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, beating the consensus estimate of $1.80 by $0.16. The company had revenue of $512.87 million during the quarter, compared to analyst estimates of $299.59 million. Axos Financial had a return on equity of 18.99% and a net margin of 24.07%. During the same period in the prior year, the company earned $1.41 earnings per share. On average, sell-side analysts anticipate that Axos Financial, Inc. will post 7.02 EPS for the current year.

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.