Allspring Global Investments Holdings LLC Reduces Stock Holdings in Axos Financial, Inc. (NYSE:AX)

Allspring Global Investments Holdings LLC reduced its position in Axos Financial, Inc. (NYSE:AX) by 26.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 175,168 shares of the company’s stock after selling 64,613 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.31% of Axos Financial worth $11,015,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Raymond James & Associates raised its position in shares of Axos Financial by 29.7% in the third quarter. Raymond James & Associates now owns 109,964 shares of the company’s stock valued at $6,915,000 after purchasing an additional 25,158 shares during the period. nVerses Capital LLC boosted its holdings in Axos Financial by 88.9% in the 3rd quarter. nVerses Capital LLC now owns 5,100 shares of the company’s stock worth $321,000 after buying an additional 2,400 shares during the period. Wesbanco Bank Inc. purchased a new position in Axos Financial in the 3rd quarter valued at approximately $333,000. Kathleen S. Wright Associates Inc. bought a new stake in Axos Financial during the 3rd quarter valued at $27,000. Finally, Inspire Investing LLC purchased a new stake in shares of Axos Financial during the third quarter worth $796,000. 83.79% of the stock is currently owned by institutional investors.

Axos Financial Stock Down 2.7 %

AX stock opened at $64.85 on Friday. The company’s 50 day moving average is $64.74 and its 200 day moving average is $60.97. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 8.80 and a beta of 1.39. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17. Axos Financial, Inc. has a 1-year low of $32.05 and a 1-year high of $79.15.

Axos Financial (NYSE:AX) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $1.80 EPS for the quarter, hitting analysts’ consensus estimates of $1.80. Axos Financial had a net margin of 23.96% and a return on equity of 18.57%. The firm had revenue of $484.29 million for the quarter, compared to analyst estimates of $296.02 million. During the same quarter in the prior year, the firm earned $1.50 EPS. Sell-side analysts predict that Axos Financial, Inc. will post 7.12 EPS for the current fiscal year.

Insider Activity at Axos Financial

In related news, EVP Andrew J. Micheletti sold 5,197 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $63.13, for a total transaction of $328,086.61. Following the transaction, the executive vice president now directly owns 424,149 shares of the company’s stock, valued at approximately $26,776,526.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.82% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut Axos Financial from an “outperform” rating to a “market perform” rating and set a $79.00 price target for the company. in a research report on Wednesday, July 31st. Wedbush decreased their price target 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. Piper Sandler increased their price target on shares of Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Raymond James boosted their price objective on shares of Axos Financial from $67.00 to $81.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC assumed coverage on shares of Axos Financial in a research note on Friday, October 11th. They issued a “buy” rating and a $82.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Axos Financial currently has an average rating of “Moderate Buy” and a consensus target price of $80.20.

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.