Bank of Montreal Can Reduces Stake in Axos Financial, Inc. (NYSE:AX)

Bank of Montreal Can lessened its stake in shares of Axos Financial, Inc. (NYSE:AX) by 17.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 33,633 shares of the company’s stock after selling 6,971 shares during the period. Bank of Montreal Can owned 0.06% of Axos Financial worth $2,095,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hancock Whitney Corp grew its position in Axos Financial by 1.3% in the third quarter. Hancock Whitney Corp now owns 10,931 shares of the company’s stock worth $687,000 after acquiring an additional 142 shares during the period. Crossmark Global Holdings Inc. grew its holdings in shares of Axos Financial by 4.4% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,836 shares of the company’s stock worth $241,000 after purchasing an additional 162 shares during the period. Mercer Global Advisors Inc. ADV grew its holdings in shares of Axos Financial by 5.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,291 shares of the company’s stock worth $302,000 after purchasing an additional 266 shares during the period. CWM LLC increased its position in shares of Axos Financial by 5.4% during the 2nd quarter. CWM LLC now owns 5,208 shares of the company’s stock worth $298,000 after purchasing an additional 269 shares during the last quarter. Finally, SummerHaven Investment Management LLC raised its holdings in Axos Financial by 1.6% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,645 shares of the company’s stock valued at $1,008,000 after buying an additional 281 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on AX. Needham & Company LLC increased their price objective on shares of Axos Financial from $82.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Keefe, Bruyette & Woods increased their price objective on Axos Financial from $74.00 to $91.00 and gave the company a “market perform” rating in a research note on Wednesday. Wedbush lowered their price objective on Axos Financial from $80.00 to $75.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Finally, StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $83.20.

Axos Financial Stock Performance

Shares of AX opened at $80.10 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.17. The firm has a market cap of $4.57 billion, a PE ratio of 9.70 and a beta of 1.42. Axos Financial, Inc. has a 12-month low of $42.92 and a 12-month high of $88.46. The company’s 50 day simple moving average is $72.05 and its 200-day simple moving average is $65.62.

Axos Financial (NYSE:AX) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.80 by $0.16. The firm had revenue of $512.87 million during the quarter, compared to analysts’ expectations of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. During the same period in the prior year, the company posted $1.41 earnings per share. As a group, equities analysts predict that Axos Financial, Inc. will post 7.07 EPS for the current year.

Insider Buying and Selling at Axos Financial

In other news, EVP Andrew J. Micheletti sold 5,197 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $63.13, for a total transaction of $328,086.61. Following the completion of the transaction, the executive vice president now directly owns 424,149 shares of the company’s stock, valued at $26,776,526.37. This trade represents a 1.21 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward James Ratinoff sold 4,002 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $79.41, for a total value of $317,798.82. Following the sale, the director now owns 46,209 shares in the company, valued at approximately $3,669,456.69. This trade represents a 7.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 134,199 shares of company stock valued at $10,882,135. Corporate insiders own 5.07% of the company’s stock.

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.