Raymond James Financial Inc. Takes $16.46 Million Position in Axos Financial, Inc. (NYSE:AX)

Raymond James Financial Inc. bought a new stake in Axos Financial, Inc. (NYSE:AX - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 235,710 shares of the company's stock, valued at approximately $16,464,000. Raymond James Financial Inc. owned approximately 0.41% of Axos Financial at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Heck Capital Advisors LLC acquired a new position in Axos Financial during the fourth quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new stake in Axos Financial during the 4th quarter valued at $52,000. R Squared Ltd bought a new stake in shares of Axos Financial during the 4th quarter worth about $66,000. SRS Capital Advisors Inc. lifted its position in Axos Financial by 238.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,097 shares of the company's stock worth $77,000 after acquiring an additional 773 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Axos Financial by 206.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,261 shares of the company's stock worth $88,000 after acquiring an additional 849 shares during the period. Institutional investors own 83.79% of the company's stock.

Insider Buying and Selling

In related news, Director Sara Wardell-Smith bought 3,000 shares of Axos Financial stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $64.73 per share, for a total transaction of $194,190.00. Following the completion of the acquisition, the director now directly owns 10,250 shares of the company's stock, valued at approximately $663,482.50. The trade was a 41.38 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 5.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AX has been the subject of several research reports. Keefe, Bruyette & Woods dropped their price target on Axos Financial from $91.00 to $90.00 and set a "market perform" rating for the company in a 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 note on Wednesday, January 29th. Raymond James reissued an "outperform" rating and issued a $80.00 price objective (up previously from $75.00) on shares of Axos Financial in a report on Wednesday, January 29th. Finally, DA Davidson lowered their target price on shares of Axos Financial from $96.00 to $88.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $84.17.

Axos Financial Price Performance

Shares of AX stock traded up $1.33 on Thursday, hitting $63.37. 145,330 shares of the company's stock were exchanged, compared to its average volume of 436,929. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market cap of $3.62 billion, a P/E ratio of 8.52 and a beta of 1.33. Axos Financial, Inc. has a 12 month low of $44.10 and a 12 month high of $88.46. The company has a 50 day moving average of $63.11 and a 200 day moving average of $69.45.

Axos Financial (NYSE:AX - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.82 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, equities research analysts predict that Axos Financial, Inc. will post 7.22 EPS for the current year.

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.