Cornercap Investment Counsel Inc. Reduces Stock Position in Axos Financial, Inc. (NYSE:AX)

Cornercap Investment Counsel Inc. decreased its stake in shares of Axos Financial, Inc. (NYSE:AX) by 86.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,897 shares of the company’s stock after selling 23,986 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Axos Financial were worth $245,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AX. American Century Companies Inc. grew its holdings in shares of Axos Financial by 26.2% during the 2nd quarter. American Century Companies Inc. now owns 1,549,748 shares of the company’s stock worth $88,568,000 after purchasing an additional 321,494 shares during the period. Millennium Management LLC boosted its stake in Axos Financial by 107.9% during the second quarter. Millennium Management LLC now owns 367,251 shares of the company’s stock worth $20,988,000 after buying an additional 190,584 shares during the period. Epoch Investment Partners Inc. acquired a new stake in shares of Axos Financial during the first quarter valued at about $7,829,000. Renaissance Technologies LLC purchased a new stake in shares of Axos Financial in the 2nd quarter valued at approximately $5,077,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Axos Financial by 27.9% in the 3rd quarter. Principal Financial Group Inc. now owns 320,717 shares of the company’s stock worth $20,167,000 after acquiring an additional 70,017 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Axos Financial Trading Down 0.2 %

Shares of Axos Financial stock opened at $79.97 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $67.35 and a 200-day simple moving average of $63.69. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 9.68 and a beta of 1.38. Axos Financial, Inc. has a 12-month low of $36.93 and a 12-month high of $85.54.

Axos Financial (NYSE:AX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, topping the consensus estimate of $1.80 by $0.16. The company had revenue of $512.87 million for 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 quarter in the previous year, the company posted $1.41 earnings per share. On average, equities analysts forecast that Axos Financial, Inc. will post 7.02 EPS for the current fiscal year.

Insider Buying and Selling at Axos Financial

In related news, CEO Gregory Garrabrants sold 125,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $81.89, for a total transaction of $10,236,250.00. Following the completion of the transaction, the chief executive officer now directly owns 1,340,377 shares of the company’s stock, valued at $109,763,472.53. This represents a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Andrew J. Micheletti sold 5,197 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $63.13, for a total value of $328,086.61. Following the transaction, the executive vice president now owns 424,149 shares in the company, valued at $26,776,526.37. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 134,199 shares of company stock worth $10,882,135. 5.07% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on AX. 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. Needham & Company LLC increased their price target on shares of Axos Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Keefe, Bruyette & Woods lifted their price objective on shares of Axos Financial from $72.00 to $74.00 and gave the company a “market perform” rating in a report on Friday, November 1st. StockNews.com lowered shares of Axos Financial from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Finally, Piper Sandler boosted their price target on shares of Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Axos Financial currently has a consensus rating of “Hold” and a consensus price target of $79.80.

Axos Financial 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.