Qfin Holdings Inc. - Sponsored ADR $QFIN Shares Acquired by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. increased its stake in Qfin Holdings Inc. by 20.8%, owning approximately 2.9 million shares worth $130 million as of the most recent filing.
• Qfin recently announced a semi-annual dividend of $0.76, up from the previous $0.70, reflecting a significant yield of 440.0%.
• Equities analysts have rated Qfin with an average target price of $51.73, despite a recent downgrade to "hold" from "buy" by Wall Street Zen.

Alliancebernstein L.P. boosted its holdings in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 20.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,901,566 shares of the company's stock after acquiring an additional 500,573 shares during the quarter. Alliancebernstein L.P. owned about 1.84% of Qfin worth $130,309,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. HB Wealth Management LLC increased its stake in Qfin by 7.2% during the first quarter. HB Wealth Management LLC now owns 6,431 shares of the company's stock worth $289,000 after acquiring an additional 431 shares during the last quarter. SVB Wealth LLC acquired a new stake in Qfin during the first quarter worth $28,000. HighTower Advisors LLC raised its holdings in shares of Qfin by 5.6% in the 1st quarter. HighTower Advisors LLC now owns 15,484 shares of the company's stock valued at $695,000 after buying an additional 823 shares during the period. Nomura Holdings Inc. raised its holdings in shares of Qfin by 7.3% in the 1st quarter. Nomura Holdings Inc. now owns 13,200 shares of the company's stock valued at $593,000 after buying an additional 900 shares during the period. Finally, Nuveen Asset Management LLC raised its holdings in shares of Qfin by 0.5% in the 4th quarter. Nuveen Asset Management LLC now owns 242,000 shares of the company's stock valued at $9,288,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 74.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on QFIN. Wall Street Zen downgraded Qfin from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. JPMorgan Chase & Co. began coverage on Qfin in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $51.73.

Qfin Stock Down 0.9%

QFIN traded down $0.25 on Wednesday, hitting $28.13. 538,824 shares of the company were exchanged, compared to its average volume of 1,729,501. Qfin Holdings Inc. - Sponsored ADR has a twelve month low of $24.60 and a twelve month high of $48.94. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 3.97, a price-to-earnings-growth ratio of 0.28 and a beta of 0.45. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average price of $35.18 and a two-hundred day moving average price of $39.57.

Qfin (NASDAQ:QFIN - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $1.78 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.01). Qfin had a return on equity of 30.74% and a net margin of 38.66%.The company had revenue of $728.00 million for the quarter, compared to analyst estimates of $4.68 billion. On average, equities analysts predict that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be paid a dividend of $0.76 per share. This represents a yield of 541.0%. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Qfin's previous semi-annual dividend of $0.70. Qfin's payout ratio is presently 21.19%.

Qfin Profile

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.