JPMorgan Chase & Co. Increases Position in Axos Financial, Inc. (NYSE:AX)

JPMorgan Chase & Co. lifted its position in shares of Axos Financial, Inc. (NYSE:AX) by 12.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 281,658 shares of the company’s stock after buying an additional 32,095 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.49% of Axos Financial worth $17,711,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kathleen S. Wright Associates Inc. bought a new stake in Axos Financial during the third quarter valued at about $27,000. Hollencrest Capital Management purchased a new stake in shares of Axos Financial during the second quarter worth about $25,000. Farther Finance Advisors LLC raised its stake in Axos Financial by 881.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 648 shares of the company’s stock valued at $41,000 after purchasing an additional 582 shares during the period. Ashton Thomas Securities LLC purchased a new position in Axos Financial in the 3rd quarter worth approximately $41,000. Finally, GAMMA Investing LLC lifted its holdings in Axos Financial by 45.7% in the 3rd quarter. GAMMA Investing LLC now owns 982 shares of the company’s stock worth $62,000 after purchasing an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Axos Financial Price Performance

AX stock opened at $68.97 on Friday. Axos Financial, Inc. has a 52 week low of $44.10 and a 52 week high of $88.46. The firm has a market capitalization of $3.94 billion, a P/E ratio of 8.35 and a beta of 1.46. The company has a fifty day simple moving average of $76.75 and a two-hundred day simple moving average of $68.93. 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 announced its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.80 by $0.16. The firm had revenue of $512.87 million during the quarter, compared to the consensus estimate of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. During the same quarter last year, the firm earned $1.41 EPS. Analysts anticipate that Axos Financial, Inc. will post 7.07 earnings per share for the current fiscal year.

Insider Activity

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 value of $10,236,250.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Edward James Ratinoff sold 4,002 shares of the business’s 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 transaction, the director now owns 46,209 shares of the company’s stock, valued at $3,669,456.69. This trade represents a 7.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AX. Keefe, Bruyette & Woods lifted their price objective on shares of Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price target on shares of Axos Financial in a report on Thursday. StockNews.com upgraded shares of Axos Financial from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Finally, Wedbush cut their price objective on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.20.

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.