BNP Paribas Financial Markets Lowers Stock Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

BNP Paribas Financial Markets reduced its stake in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 16.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 309,984 shares of the company's stock after selling 60,483 shares during the quarter. BNP Paribas Financial Markets owned 0.20% of Qifu Technology worth $11,897,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Qifu Technology during the third quarter valued at approximately $30,000. Tidal Investments LLC purchased a new stake in Qifu Technology in the third quarter worth about $613,000. Franklin Resources Inc. grew its position in shares of Qifu Technology by 12.9% during the third quarter. Franklin Resources Inc. now owns 61,616 shares of the company's stock worth $2,031,000 after purchasing an additional 7,033 shares in the last quarter. HB Wealth Management LLC purchased a new position in Qifu Technology during the 4th quarter valued at approximately $230,000. Finally, Artemis Investment Management LLP bought a new stake in shares of Qifu Technology in the 4th quarter valued at approximately $12,493,000. 74.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Bank of America boosted their target price on Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research note on Wednesday, March 26th.

Qifu Technology Stock Performance

Shares of QFIN stock traded up $0.60 during trading hours on Tuesday, reaching $46.05. The company had a trading volume of 1,309,895 shares, compared to its average volume of 1,552,033. The company has a market capitalization of $7.26 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 12-month low of $18.13 and a 12-month high of $48.94. The stock has a fifty day moving average of $41.25 and a 200-day moving average of $39.05.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last released its quarterly earnings results on Sunday, March 16th. The company reported $1.82 EPS for the quarter, topping analysts' consensus estimates of $1.68 by $0.14. The company had revenue of $613.89 million for the quarter, compared to analysts' expectations of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. On average, analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be paid a $0.70 dividend. The ex-dividend date of this dividend is Wednesday, April 23rd. This is a boost from Qifu Technology's previous semi-annual dividend of $0.60. This represents a yield of 2.5%. Qifu Technology's dividend payout ratio (DPR) is currently 23.79%.

About Qifu Technology

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.