Geode Capital Management LLC Grows Stake in Axos Financial, Inc. (NYSE:AX)

Geode Capital Management LLC raised its holdings in Axos Financial, Inc. (NYSE:AX) by 6.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,444,756 shares of the company’s stock after buying an additional 91,797 shares during the quarter. Geode Capital Management LLC’s holdings in Axos Financial were worth $90,861,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in AX. American Century Companies Inc. lifted its stake in Axos Financial by 26.2% in the second quarter. American Century Companies Inc. now owns 1,549,748 shares of the company’s stock worth $88,568,000 after acquiring an additional 321,494 shares during the period. Wasatch Advisors LP raised its holdings in Axos Financial by 34.0% in the 3rd quarter. Wasatch Advisors LP now owns 1,154,737 shares of the company’s stock worth $72,610,000 after purchasing an additional 292,952 shares in the last quarter. Millennium Management LLC lifted its position in shares of Axos Financial by 107.9% in the 2nd quarter. Millennium Management LLC now owns 367,251 shares of the company’s stock worth $20,988,000 after purchasing an additional 190,584 shares during the period. State Street Corp boosted its stake in shares of Axos Financial by 5.5% during the 3rd quarter. State Street Corp now owns 3,178,708 shares of the company’s stock valued at $199,877,000 after purchasing an additional 164,997 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Axos Financial during the second quarter valued at about $5,077,000. 83.79% of the stock is owned by hedge funds and other institutional investors.

Axos Financial Stock Performance

Shares of AX opened at $71.12 on Friday. Axos Financial, Inc. has a 52 week low of $44.10 and a 52 week high of $88.46. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.17. The stock has a market cap of $4.06 billion, a P/E ratio of 8.61 and a beta of 1.42. The business’s 50 day moving average price is $75.20 and its 200-day moving average price is $67.02.

Axos Financial (NYSE:AX) last released its earnings results on Wednesday, October 30th. The company reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.80 by $0.16. The firm had revenue of $512.87 million for the quarter, compared to analysts’ expectations 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 firm posted $1.41 earnings per share. Equities research analysts anticipate that Axos Financial, Inc. will post 7.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on AX shares. Wedbush cut their price objective on Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. Needham & Company LLC lifted their price target on Axos Financial from $82.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods raised their price objective on Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $83.20.

Insider Activity at Axos Financial

In other news, CEO Gregory Garrabrants sold 125,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total value of $10,236,250.00. Following the completion of the transaction, the chief executive officer now owns 1,340,377 shares in the company, valued at $109,763,472.53. The trade was a 8.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Edward James Ratinoff sold 4,002 shares of the stock in a transaction 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 $3,669,456.69. This trade represents a 7.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by insiders.

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.