Connors Investor Services Inc. Decreases Position in Axos Financial, Inc. (NYSE:AX)

Connors Investor Services Inc. decreased its stake in Axos Financial, Inc. (NYSE:AX) by 6.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,383 shares of the company’s stock after selling 3,062 shares during the period. Connors Investor Services Inc.’s holdings in Axos Financial were worth $2,344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. M&G Plc acquired a new position in shares of Axos Financial in the first quarter worth about $8,249,000. First Eagle Investment Management LLC lifted its stake in shares of Axos Financial by 7.2% in the first quarter. First Eagle Investment Management LLC now owns 187,572 shares of the company’s stock worth $10,136,000 after acquiring an additional 12,650 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Axos Financial by 54.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 25,012 shares of the company’s stock worth $1,352,000 after acquiring an additional 8,770 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Axos Financial by 5.9% in the first quarter. ProShare Advisors LLC now owns 10,948 shares of the company’s stock worth $592,000 after acquiring an additional 612 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Axos Financial by 36.7% in the first quarter. Russell Investments Group Ltd. now owns 18,447 shares of the company’s stock worth $997,000 after acquiring an additional 4,957 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AX. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $79.00 price target on shares of Axos Financial in a research note on Tuesday, June 4th. Wedbush restated a “neutral” rating and set a $60.00 price objective on shares of Axos Financial in a research note on Wednesday, May 1st. Finally, Piper Sandler upped their price objective on Axos Financial from $65.00 to $68.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Axos Financial currently has an average rating of “Moderate Buy” and a consensus target price of $67.25.

Axos Financial Stock Up 1.5 %

NYSE AX traded up $1.06 on Friday, hitting $70.87. 503,690 shares of the stock traded hands, compared to its average volume of 564,709. The stock has a 50-day moving average of $57.57 and a 200 day moving average of $54.45. Axos Financial, Inc. has a twelve month low of $32.05 and a twelve month high of $73.13. The company has a market capitalization of $4.04 billion, a P/E ratio of 9.62 and a beta of 1.43. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.20.

Axos Financial (NYSE:AX) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.21. The business had revenue of $476.73 million for the quarter, compared to analysts’ expectations of $277.85 million. Axos Financial had a return on equity of 18.57% and a net margin of 24.39%. During the same period in the prior year, the firm earned $1.35 EPS. As a group, analysts expect that Axos Financial, Inc. will post 6.76 earnings per share for the current fiscal 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.