Bank of America Corp DE Acquires 609,233 Shares of LexinFintech Holdings Ltd. (NASDAQ:LX)

Bank of America Corp DE boosted its stake in LexinFintech Holdings Ltd. (NASDAQ:LX - Free Report) by 115.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,134,716 shares of the company's stock after acquiring an additional 609,233 shares during the period. Bank of America Corp DE owned 0.69% of LexinFintech worth $6,581,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership boosted its stake in LexinFintech by 237.8% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,703,154 shares of the company's stock worth $21,478,000 after purchasing an additional 2,606,969 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of LexinFintech during the 4th quarter valued at about $7,687,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of LexinFintech during the 4th quarter valued at about $7,510,000. Barclays PLC purchased a new stake in LexinFintech in the 4th quarter worth approximately $7,131,000. Finally, Canada Pension Plan Investment Board purchased a new stake in LexinFintech in the 4th quarter worth approximately $6,925,000.

Analyst Upgrades and Downgrades

Separately, UBS Group set a $13.60 price target on LexinFintech and gave the stock a "buy" rating in a research note on Friday, March 21st.

LexinFintech Price Performance

Shares of NASDAQ LX traded up $0.01 during midday trading on Thursday, reaching $7.27. 2,119,840 shares of the stock traded hands, compared to its average volume of 3,019,563. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.66 and a quick ratio of 1.66. The stock has a market capitalization of $1.22 billion, a PE ratio of 11.54 and a beta of 0.46. LexinFintech Holdings Ltd. has a one year low of $1.57 and a one year high of $11.64. The company's 50 day moving average is $8.29 and its 200 day moving average is $7.33.

LexinFintech (NASDAQ:LX - Get Free Report) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.33 earnings per share (EPS) for the quarter. LexinFintech had a return on equity of 7.47% and a net margin of 5.34%. The company had revenue of $427.76 million during the quarter.

LexinFintech Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, May 16th. Stockholders of record on Thursday, April 17th were given a dividend of $0.11 per share. This represents a dividend yield of 1.2%. This is an increase from LexinFintech's previous semi-annual dividend of $0.07. The ex-dividend date was Thursday, April 17th. LexinFintech's dividend payout ratio (DPR) is 16.04%.

LexinFintech Profile

LexinFintech Holdings Ltd., through its subsidiaries, provides online consumer finance services in the People's Republic of China. The company operates Fenqile.com, an online consumption and consumer finance platform that offers installment purchase and personal installment loans, as well as online direct sales with installment payment terms; and Le Hua Card, a scenario-based lending.