Moran Wealth Management LLC Has $400,000 Stock Holdings in Axos Financial, Inc (NYSE:AX)

Moran Wealth Management LLC grew its holdings in Axos Financial, Inc (NYSE:AX) by 11.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 6,195 shares of the company’s stock after acquiring an additional 649 shares during the period. Moran Wealth Management LLC’s holdings in Axos Financial were worth $400,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Axos Financial by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 6,129,602 shares of the company’s stock worth $428,153,000 after purchasing an additional 49,695 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Axos Financial by 9.6% in the 4th quarter. American Century Companies Inc. now owns 1,874,779 shares of the company’s stock worth $130,953,000 after purchasing an additional 163,952 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Axos Financial by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,488,259 shares of the company’s stock worth $103,975,000 after purchasing an additional 43,503 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Axos Financial by 4.7% in the 4th quarter. Northern Trust Corp now owns 742,837 shares of the company’s stock worth $51,887,000 after purchasing an additional 33,207 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Axos Financial by 8.7% in the 4th quarter. Ameriprise Financial Inc. now owns 677,546 shares of the company’s stock worth $47,330,000 after purchasing an additional 54,238 shares during the last quarter. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on AX. Wall Street Zen raised shares of Axos Financial from a “sell” rating to a “hold” rating in a report on Friday. DA Davidson lowered their target price on shares of Axos Financial from $88.00 to $84.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group began coverage on shares of Axos Financial in a report on Wednesday, May 21st. They issued a “buy” rating and a $90.00 target price on the stock. Piper Sandler lowered their target price on shares of Axos Financial from $84.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, May 1st. Finally, Raymond James Financial reissued an “outperform” rating and set a $72.00 price objective (down previously from $80.00) on shares of Axos Financial in a report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $82.71.

Axos Financial Stock Up 0.1%

Shares of NYSE:AX opened at $76.77 on Friday. Axos Financial, Inc has a 12 month low of $54.46 and a 12 month high of $88.46. The company’s 50-day moving average price is $69.63 and its two-hundred day moving average price is $68.24. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.19. The firm has a market cap of $4.33 billion, a P/E ratio of 10.46 and a beta of 1.29.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.81 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.07. Axos Financial had a net margin of 21.93% and a return on equity of 17.58%. The firm had revenue of $432.72 million for the quarter, compared to analyst estimates of $305.04 million. During the same quarter in the prior year, the firm earned $1.91 EPS. As a group, research analysts forecast that Axos Financial, Inc will post 7.22 EPS for the current fiscal year.

Axos Financial declared that its Board of Directors has initiated a stock repurchase plan on Monday, May 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

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

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.