HighTower Advisors LLC Increases Stake in Axos Financial, Inc.

HighTower Advisors LLC has significantly increased its investment in Axos Financial, Inc. (NYSE:AX), boosting its stake by 220.2% during the fourth quarter, as reported in their latest filing with the SEC. After this acquisition, HighTower's total holdings in Axos Financial reached 13,348 shares, which includes an additional 9,180 shares purchased in this period. By the end of the last quarter, these holdings were valued at approximately $932,000.

Several other institutional investors have also been active with their positions in Axos Financial recently. For instance, Heck Capital Advisors LLC acquired a new investment worth about $35,000 in the fourth quarter. Similarly, Kestra Investment Management LLC made a new investment of approximately $52,000, while R Squared Ltd bought shares worth around $66,000 during the same period. SRS Capital Advisors Inc. raised its position in Axos Financial by 238.6%, now owning 1,097 shares valued at $77,000 after acquiring an additional 773 shares last quarter. Parkside Financial Bank & Trust also increased its stake by 206.1%, now holding 1,261 shares valued at approximately $88,000 after an acquisition of 849 shares. Currently, institutional investors and hedge funds hold 83.79% of the stock.

Axos Financial's Stock Performance

As of recent trading, shares of AX opened at $64.86. The company's financial ratios reflect stability with a debt-to-equity ratio of 0.20, a current ratio of 1.09, and a quick ratio also at 1.09. Axos Financial boasts a market capitalization of $3.70 billion, has a PE ratio of 8.72, and a beta of 1.45. The stock has seen a 50-day moving average of $67.83 alongside a two-hundred day moving average of $69.96, with a 12-month low of $44.10 and a high of $88.46.

Recent Earnings and Insider Trading

Axos Financial reported its latest quarterly earnings on January 28, revealing earnings per share (EPS) of $1.82, which exceeded analysts' expectations of $1.75 by $0.07. The company showed a net margin of 22.10% and a return on equity of 18.67%. Analysts project that Axos Financial, Inc. will record an EPS of 7.22 for the current year.

In related insider activity, Director Sara Wardell-Smith bought 3,000 shares of Axos Financial's stock on March 4, making a purchase at an average of $64.73 per share, totaling $194,190.00. Following this transaction, her total ownership increased to 10,250 shares, valuing around $663,482.50. Insiders currently own 5.07% of the company’s stock.

Analysts' Ratings and Expectations

Analysts have recently given various ratings and targets for Axos Financial. DA Davidson has lowered the price target from $96.00 to $88.00 and maintained a "buy" rating. Needham & Company LLC raised their target from $85.00 to $88.00 while keeping a "buy" rating. Raymond James reiterated an "outperform" rating, increasing its price target from $75.00 to $80.00. Keefe, Bruyette & Woods reduced their target from $91.00 to $90.00 while maintaining a "market perform" rating. Additionally, StockNews.com upgraded the shares from a "sell" to a "hold" rating. According to MarketBeat.com, Axos Financial currently enjoys a consensus rating of "Moderate Buy" with a target price of $84.17.

Company Overview

Axos Financial, Inc., along with its subsidiaries, offers a range of consumer and business banking products in the United States, operating mainly through its Banking and Securities business segments. The company provides various deposit products, including consumer and business checking accounts, savings accounts, money market accounts, and time deposits.

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