Qfin Holdings Inc. - Sponsored ADR $QFIN Stake Lessened by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC reduced its holdings in Qfin Holdings Inc. by 2.6%, selling 23,072 shares, and owning a total of 862,002 shares worth approximately $38.7 million.
• Mirae Asset Global Investments massively increased its stake in Qfin by 10,812.1%, acquiring over 2 million shares, while several other institutional investors have also recently altered their positions in the company.
• Qfin Holdings Inc. announced a semi-annual dividend increase to $0.76 per share, with a yield of 440.0%, and a dividend payout ratio currently at 21.19%.

Hsbc Holdings PLC lowered its position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 862,002 shares of the company's stock after selling 23,072 shares during the quarter. Hsbc Holdings PLC owned 0.55% of Qfin worth $38,713,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. GeoWealth Management LLC purchased a new position in shares of Qfin in the 4th quarter valued at about $26,000. Virtus Investment Advisers Inc. purchased a new position in shares of Qfin in the 4th quarter valued at about $61,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Qfin in the 1st quarter valued at about $108,000. State of Wyoming purchased a new position in shares of Qfin in the 4th quarter valued at about $97,000. Finally, Headlands Technologies LLC purchased a new position in shares of Qfin in the 1st quarter valued at about $151,000. Hedge funds and other institutional investors own 74.81% of the company's stock.

Qfin Trading Down 2.3%

QFIN stock traded down $0.71 during midday trading on Wednesday, reaching $29.69. 881,226 shares of the company's stock traded hands, compared to its average volume of 1,746,565. The company has a market capitalization of $4.68 billion, a P/E ratio of 4.18, a PEG ratio of 0.31 and a beta of 0.39. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48. Qfin Holdings Inc. - Sponsored ADR has a fifty-two week low of $24.30 and a fifty-two week high of $48.94. The business has a 50-day moving average price of $38.16 and a two-hundred day moving average price of $40.57.

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

Qfin Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be given a dividend of $0.76 per share. 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. This represents a dividend yield of 440.0%. Qfin's dividend payout ratio is presently 19.49%.

Analyst Upgrades and Downgrades

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

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.