WCM Investment Management LLC Boosts Stake in Axos Financial, Inc $AX

WCM Investment Management LLC lifted its position in Axos Financial, Inc (NYSE:AX) by 36.3% in the 1st quarter, Holdings Channel reports. The fund owned 95,366 shares of the company’s stock after acquiring an additional 25,395 shares during the quarter. WCM Investment Management LLC’s holdings in Axos Financial were worth $7,904,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in AX. Eurizon Capital SGR S.p.A. bought a new stake in shares of Axos Financial during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new position in Axos Financial in the fourth quarter worth $28,000. Brown Brothers Harriman & Co. bought a new position in Axos Financial in the third quarter worth $29,000. EverSource Wealth Advisors LLC lifted its position in Axos Financial by 294.7% during the second quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock valued at $34,000 after buying an additional 333 shares during the period. Finally, Torren Management LLC purchased a new position in Axos Financial during the fourth quarter valued at $36,000. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Insider Transactions at Axos Financial

In other Axos Financial news, Director Roque A. Santi sold 500 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $87.77, for a total transaction of $43,885.00. Following the completion of the sale, the director directly owned 7,646 shares in the company, valued at approximately $671,089.42. This trade represents a 6.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael James Watson sold 1,653 shares of Axos Financial stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total transaction of $138,471.81. Following the completion of the transaction, the executive vice president directly owned 4,592 shares of the company’s stock, valued at $384,671.84. This trade represents a 26.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.85% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Zacks Research downgraded shares of Axos Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 8th. Weiss Ratings raised shares of Axos Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 1st. Benchmark started coverage on shares of Axos Financial in a research note on Wednesday, July 8th. They set a “buy” rating and a $115.00 price objective on the stock. Finally, Raymond James Financial raised shares of Axos Financial from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $110.00 to $100.00 in a research note on Tuesday, April 7th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $110.33.

Axos Financial Stock Down 1.9%

Shares of NYSE:AX opened at $97.62 on Tuesday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.38. The stock has a fifty day simple moving average of $91.03 and a two-hundred day simple moving average of $91.35. Axos Financial, Inc has a 12-month low of $74.89 and a 12-month high of $102.18. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 11.86 and a beta of 1.23.

Axos Financial (NYSE:AX) last released its earnings results on Thursday, April 30th. The company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.13 by ($0.23). Axos Financial had a return on equity of 16.48% and a net margin of 22.53%.The company had revenue of $392.25 million during the quarter, compared to analysts’ expectations of $372.51 million. During the same period in the prior year, the company posted $1.81 earnings per share. On average, research analysts anticipate that Axos Financial, Inc will post 8.38 earnings per share for the current fiscal year.

About Axos Financial

Axos Financial, Inc (NYSE: AX) is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.