Wealth Enhancement Advisory Services LLC Acquires New Stake in Axos Financial, Inc. (NYSE:AX)

Wealth Enhancement Advisory Services LLC acquired a new stake in Axos Financial, Inc. (NYSE:AX) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 4,116 shares of the company’s stock, valued at approximately $288,000.

Several other institutional investors also recently made changes to their positions in the stock. Illinois Municipal Retirement Fund grew its holdings in shares of Axos Financial by 0.7% during the fourth quarter. Illinois Municipal Retirement Fund now owns 29,916 shares of the company’s stock worth $2,090,000 after buying an additional 196 shares in the last quarter. Versor Investments LP grew its stake in Axos Financial by 5.3% during the fourth quarter. Versor Investments LP now owns 4,000 shares of the company’s stock worth $279,000 after buying an additional 200 shares during the period. Stifel Financial Corp boosted its stake in shares of Axos Financial by 3.4% in the fourth quarter. Stifel Financial Corp now owns 7,310 shares of the company’s stock valued at $511,000 after purchasing an additional 241 shares during the period. Summit Investment Advisors Inc. boosted its stake in shares of Axos Financial by 4.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,717 shares of the company’s stock valued at $399,000 after purchasing an additional 254 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its holdings in Axos Financial by 2.0% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 13,567 shares of the company’s stock valued at $948,000 after acquiring an additional 266 shares in the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AX has been the topic of a number of research reports. Raymond James reissued an “outperform” rating and set a $72.00 target price (down from $80.00) on shares of Axos Financial in a report on Friday, May 2nd. DA Davidson reduced their price objective on shares of Axos Financial from $88.00 to $84.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Piper Sandler decreased their target price on shares of Axos Financial from $84.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Wall Street Zen cut shares of Axos Financial from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Jefferies Financial Group started coverage on shares of Axos Financial in a report on Wednesday, May 21st. They issued a “buy” rating and a $90.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Axos Financial has a consensus rating of “Moderate Buy” and an average price target of $82.71.

Insider Transactions at Axos Financial

In other news, Director Paul Grinberg sold 30,000 shares of Axos Financial stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $68.09, for a total transaction of $2,042,700.00. Following the sale, the director now directly owns 113,295 shares in the company, valued at approximately $7,714,256.55. The trade was a 20.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.07% of the company’s stock.

Axos Financial Stock Performance

Shares of AX opened at $69.92 on Monday. The company has a market capitalization of $3.94 billion, a PE ratio of 9.40 and a beta of 1.29. Axos Financial, Inc. has a one year low of $51.81 and a one year high of $88.46. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.09 and a quick ratio of 1.09. The company’s fifty day moving average price is $66.79 and its 200 day moving average price is $68.59.

Axos Financial (NYSE:AX) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.07. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. The company had revenue of $432.72 million for the quarter, compared to the consensus estimate of $305.04 million. During the same quarter in the previous year, the firm posted $1.91 EPS. As a group, analysts expect that Axos Financial, Inc. will post 7.22 earnings per share for the current year.

Axos Financial declared that its board has approved a share buyback plan on Monday, May 12th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 2.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Axos Financial Company 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.