First Hawaiian Bank Cuts Stake in Axos Financial, Inc. (NYSE:AX)

First Hawaiian Bank cut its holdings in shares of Axos Financial, Inc. (NYSE:AX) by 65.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,555 shares of the company’s stock after selling 8,460 shares during the quarter. First Hawaiian Bank’s holdings in Axos Financial were worth $246,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. SummerHaven Investment Management LLC raised its position in Axos Financial by 1.2% in the 4th quarter. SummerHaven Investment Management LLC now owns 17,185 shares of the company’s stock worth $938,000 after purchasing an additional 206 shares during the period. Covestor Ltd lifted its stake in shares of Axos Financial by 34.1% in the 3rd quarter. Covestor Ltd now owns 1,302 shares of the company’s stock valued at $49,000 after acquiring an additional 331 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Axos Financial by 8.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,318 shares of the company’s stock valued at $290,000 after acquiring an additional 394 shares during the period. Cornercap Investment Counsel Inc. grew its position in Axos Financial by 1.5% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 28,111 shares of the company’s stock worth $1,535,000 after acquiring an additional 408 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Axos Financial in the 4th quarter worth approximately $26,000. 83.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AX shares. Wedbush reissued a “neutral” rating and set a $60.00 price objective on shares of Axos Financial in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $79.00 price target on shares of Axos Financial in a research report on Tuesday, June 4th. Finally, Piper Sandler boosted their price objective on shares of Axos Financial from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Axos Financial presently has an average rating of “Moderate Buy” and an average price target of $67.25.

Axos Financial Stock Performance

Shares of AX stock opened at $53.66 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.20. The stock has a fifty day moving average of $55.01 and a 200 day moving average of $53.35. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 7.28 and a beta of 1.39. Axos Financial, Inc. has a 52 week low of $32.05 and a 52 week high of $63.00.

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

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.