Ategra Capital Management reduced its stake in Axos Financial (AX +2.77%) by 39,577 shares in the first quarter, an estimated $3.61 million trade based on quarterly average pricing, according to a May 15, 2026, SEC filing.
What happened
According to the SEC filing dated May 15, 2026, Ategra Capital Management sold 39,577 shares of Axos Financial in the first quarter. The estimated transaction value was $3.61 million, calculated using the mean unadjusted close for the quarter. The fund’s position in Axos Financial ended the period at 113,765 shares, with a quarter-end value of $9.68 million.
What else to know
- This was a reduction of Ategra’s Axos Financial stake, which now makes up 4.81% of its 13F reportable AUM.
- Top holdings after the filing:
- NYSE: TFC: $18.19 million
- NASDAQ:FISI: $17.89 million (10.5% of AUM)
- NYSE: BBT: $15.34 million
- NYSE: CFG: $14.91 million
- NASDAQ:HWBK: $11.54 million (6.8% of AUM)
- As of May 14, 2026, shares of Axos Financial were priced at $83.44, up about 19% over the past year and underperforming the S&P 500, which is instead up about 25%.
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $1.4 billion |
| Net Income (TTM) | $476.1 million |
| Price (as of market close 2026-05-14) | $83.44 |
Company snapshot
- Axos offers consumer and business banking products, including deposit accounts, mortgage loans, commercial lending, auto loans, and securities-backed loans.
- The firm serves individual consumers, small businesses, and institutional clients across the United States.
- It operates a technology-driven platform to deliver digital banking and securities solutions nationwide.
Axos Financial, Inc. is a diversified financial services provider with a focus on digital banking and securities solutions. The company leverages a technology-driven platform to deliver a broad range of banking and lending products efficiently to both retail and commercial clients. Axos’s scalable business model and nationwide reach position it competitively within the regional banking sector.
What this transaction means for investors
Ategra didn’t walk away entirely here. The Axos stake still comes in just under some of the fund’s top holdings, suggesting the fund may simply be locking in gains or managing exposure after a solid, though not magnificent, run in bank stocks.
And operationally, Axos continues to put up solid numbers. Third-quarter net income rose 18.5% year over year to $124.7 million, while diluted earnings per share climbed to $2.15. Total deposits increased 11% to $22.4 billion, and loan balances reached $25 billion. The company also highlighted relatively low non-performing assets of 0.62%, a notable figure at a time when investors remain cautious about commercial real estate and broader credit quality.
Ultimately, long-term investors should keep in mind that Axos has consistently grown quickly while maintaining a lean digital model. Of course, risks remain if the economy weakens, but management’s projections for continued loan growth and deposit expansion suggest the core business still has momentum.
Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Axos Financial and Truist Financial. The Motley Fool has a disclosure policy.
