Summit Global Investments Sells 12,309 Shares of Axos Financial, Inc. (NYSE:AX)

Summit Global Investments lowered its stake in Axos Financial, Inc. (NYSE:AX) by 62.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,372 shares of the company’s stock after selling 12,309 shares during the quarter. Summit Global Investments’ holdings in Axos Financial were worth $515,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in Axos Financial by 5.5% in the 3rd quarter. State Street Corp now owns 3,178,708 shares of the company’s stock valued at $199,877,000 after purchasing an additional 164,997 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Axos Financial by 6.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,444,756 shares of the company’s stock valued at $90,861,000 after acquiring an additional 91,797 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of Axos Financial by 34.0% during the 3rd quarter. Wasatch Advisors LP now owns 1,154,737 shares of the company’s stock valued at $72,610,000 after acquiring an additional 292,952 shares in the last quarter. Loomis Sayles & Co. L P grew its position in Axos Financial by 9.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 453,425 shares of the company’s stock worth $28,512,000 after acquiring an additional 39,091 shares during the last quarter. Finally, Boston Partners acquired a new position in Axos Financial in the 4th quarter worth about $29,918,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AX shares. Keefe, Bruyette & Woods cut their price target on Axos Financial from $91.00 to $90.00 and set a “market perform” rating on the stock in a research note on Wednesday, January 29th. DA Davidson decreased 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. Raymond James reiterated an “outperform” rating and set a $80.00 price target (up previously from $75.00) on shares of Axos Financial in a report on Wednesday, January 29th. Needham & Company LLC increased their price objective on Axos Financial from $85.00 to $88.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, StockNews.com raised Axos Financial from a “sell” rating to a “hold” rating in a report on Monday, December 9th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $84.17.

Axos Financial Price Performance

AX stock opened at $67.11 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 9.02 and a beta of 1.45. The company’s fifty day simple moving average is $68.13 and its 200 day simple moving average is $70.01. Axos Financial, Inc. has a 12-month low of $44.10 and a 12-month high of $88.46.

Axos Financial (NYSE:AX) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.07. Axos Financial had a return on equity of 18.67% and a net margin of 22.10%. On average, analysts expect that Axos Financial, Inc. will post 7.22 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Sara Wardell-Smith acquired 3,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was bought at an average price of $64.73 per share, for a total transaction of $194,190.00. Following the purchase, the director now directly owns 10,250 shares of the company’s stock, valued at $663,482.50. The trade was a 41.38 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company 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.