Raymond James Financial Inc. Buys New Shares in Axos Financial, Inc. (NYSE:AX)

Raymond James Financial Inc. bought a new stake in Axos Financial, Inc. (NYSE:AX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 235,710 shares of the company’s stock, valued at approximately $16,464,000. Raymond James Financial Inc. owned about 0.41% of Axos Financial as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Axos Financial by 12.9% in the third quarter. JPMorgan Chase & Co. now owns 281,658 shares of the company’s stock valued at $17,711,000 after acquiring an additional 32,095 shares during the last quarter. Loomis Sayles & Co. L P boosted its position in Axos Financial by 9.4% during the third quarter. Loomis Sayles & Co. L P now owns 453,425 shares of the company’s stock valued at $28,512,000 after buying an additional 39,091 shares during the period. Barclays PLC boosted its position in Axos Financial by 32.6% during the third quarter. Barclays PLC now owns 142,715 shares of the company’s stock valued at $8,974,000 after buying an additional 35,087 shares during the period. Principal Financial Group Inc. boosted its position in Axos Financial by 5.4% during the fourth quarter. Principal Financial Group Inc. now owns 337,918 shares of the company’s stock valued at $23,604,000 after buying an additional 17,201 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Axos Financial during the fourth quarter valued at about $9,849,000. Institutional investors own 83.79% of the company’s stock.

Insiders Place Their Bets

In other Axos Financial news, Director Sara Wardell-Smith bought 3,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $64.73 per share, with a total value of $194,190.00. Following the completion of the purchase, the director now owns 10,250 shares of the company’s stock, valued at approximately $663,482.50. This trade represents a 41.38 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.07% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have issued reports on the stock. DA Davidson cut their price target on shares of Axos Financial from $96.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Keefe, Bruyette & Woods cut their price target on shares of Axos Financial from $91.00 to $90.00 and set a “market perform” rating for the company in a research report on Wednesday, January 29th. Raymond James restated an “outperform” rating and set a $80.00 price target (up from $75.00) on shares of Axos Financial in a research report on Wednesday, January 29th. Needham & Company LLC upped their price target on shares of Axos Financial from $85.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, StockNews.com upgraded shares of Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.17.

Axos Financial Stock Performance

Axos Financial stock opened at $63.55 on Tuesday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.20. Axos Financial, Inc. has a 1-year low of $44.10 and a 1-year high of $88.46. The firm has a 50-day moving average of $68.49 and a 200-day moving average of $70.14. The firm has a market cap of $3.63 billion, a P/E ratio of 8.54 and a beta of 1.45.

Axos Financial (NYSE:AX) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.75 by $0.07. Axos Financial had a net margin of 22.10% and a return on equity of 18.67%. Sell-side analysts expect that Axos Financial, Inc. will post 7.22 EPS 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.