Credit Agricole S A Acquires 25,000 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Credit Agricole S A significantly increased its stake in Qfin Holdings Inc. by 782.7%, acquiring an additional 25,000 shares during the first quarter, bringing its total holdings to 28,194 shares worth approximately $1.26 million.
• Despite a recent downgrade from "buy" to "hold" by Wall Street Zen, Qfin has a consensus rating of "buy" from analysts with an average price target of $51.73.
• Qfin announced an increase in its semi-annual dividend from $0.70 to $0.76 per share, representing a yield of 440.0%, with the dividend payout ratio currently at 19.49%.

Credit Agricole S A grew its position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 782.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,194 shares of the company's stock after buying an additional 25,000 shares during the quarter. Credit Agricole S A's holdings in Qfin were worth $1,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. GeoWealth Management LLC bought a new stake in Qfin during the fourth quarter worth about $26,000. Virtus Investment Advisers Inc. bought a new stake in Qfin during the fourth quarter worth about $61,000. State of Wyoming bought a new stake in Qfin during the fourth quarter worth about $97,000. Caitong International Asset Management Co. Ltd bought a new stake in Qfin during the first quarter worth about $108,000. Finally, Headlands Technologies LLC bought a new stake in Qfin during the first quarter worth about $151,000. 74.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on QFIN shares. Wall Street Zen cut shares of Qfin from a "buy" rating to a "hold" rating in a research note on Friday. JPMorgan Chase & Co. initiated coverage on shares of Qfin in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price objective on the stock. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $51.73.

Qfin Price Performance

Shares of QFIN stock opened at $31.45 on Monday. Qfin Holdings Inc. - Sponsored ADR has a 1 year low of $24.30 and a 1 year high of $48.94. The firm's 50 day moving average is $38.64 and its 200-day moving average is $40.72. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of 4.44, a PEG ratio of 0.32 and a beta of 0.39. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $1.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. Sell-side analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current fiscal year.

Qfin Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be issued a $0.76 dividend. This is an increase from Qfin's previous semi-annual dividend of $0.70. This represents a yield of 440.0%. The ex-dividend date is Monday, September 8th. Qfin's dividend payout ratio (DPR) is currently 19.49%.

Qfin Company 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.

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