Credit Agricole S A Buys 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 lifted its holdings in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 782.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,194 shares of the company's stock after buying an additional 25,000 shares during the period. Credit Agricole S A's holdings in Qfin were worth $1,266,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Quantbot Technologies LP grew its stake in Qfin by 7,090.2% during the 1st quarter. Quantbot Technologies LP now owns 16,106 shares of the company's stock worth $723,000 after buying an additional 15,882 shares during the last quarter. Korea Investment CORP boosted its position in shares of Qfin by 6.1% during the first quarter. Korea Investment CORP now owns 144,400 shares of the company's stock worth $6,485,000 after buying an additional 8,300 shares during the period. Triata Capital Ltd grew its holdings in Qfin by 71.9% in the 1st quarter. Triata Capital Ltd now owns 106,131 shares of the company's stock worth $4,766,000 after buying an additional 44,384 shares in the last quarter. Aberdeen Group plc increased its position in Qfin by 31.2% in the 1st quarter. Aberdeen Group plc now owns 220,412 shares of the company's stock valued at $9,933,000 after acquiring an additional 52,475 shares during the period. Finally, Liontrust Investment Partners LLP raised its stake in Qfin by 93.4% during the 1st quarter. Liontrust Investment Partners LLP now owns 9,669 shares of the company's stock valued at $434,000 after acquiring an additional 4,669 shares in the last quarter. Institutional investors own 74.81% of the company's stock.

Analysts Set New Price Targets

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

Qfin Stock Up 0.4%

Shares of NASDAQ QFIN traded up $0.11 during mid-day trading on Friday, reaching $29.12. The company had a trading volume of 1,407,657 shares, compared to its average volume of 2,190,204. The stock has a fifty day moving average of $37.34 and a two-hundred day moving average of $40.29. Qfin Holdings Inc. - Sponsored ADR has a 12-month low of $24.30 and a 12-month high of $48.94. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 4.11, a PEG ratio of 0.29 and a beta of 0.39. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.48 and a current ratio of 3.48.

Qfin (NASDAQ:QFIN - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $4.68 billion. As a group, equities research analysts expect that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current year.

Qfin Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th will be given a $0.76 dividend. This represents a yield of 440.0%. The ex-dividend date of this dividend is Monday, September 8th. This is an increase from Qfin's previous semi-annual dividend of $0.70. Qfin's payout ratio is currently 19.49%.

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.