LPL Financial LLC Buys 8,330 Shares of Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• LPL Financial LLC increased its holdings in Qfin Holdings Inc. by 34.5%, acquiring an additional 8,330 shares during the 1st quarter, bringing their total to 32,509 shares valued at approximately $1.46 million.
• Qfin recently announced a boost in its semi-annual dividend from $0.70 to $0.76, reflecting a substantial yield of 440.0%, with the dividend payout scheduled for September 30th.
• Despite a recent earnings report showing an EPS of $1.78, missing estimates, Qfin maintains a strong financial profile with a return on equity of 30.74% and a net margin of 38.66%.

LPL Financial LLC boosted its stake in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 34.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 32,509 shares of the company's stock after buying an additional 8,330 shares during the period. LPL Financial LLC's holdings in Qfin were worth $1,460,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of QFIN. GeoWealth Management LLC purchased a new position in Qfin during the 4th quarter valued at about $26,000. Virtus Investment Advisers Inc. purchased a new position in Qfin during the 4th quarter valued at about $61,000. State of Wyoming purchased a new position in Qfin during the 4th quarter valued at about $97,000. Burns Matteson Capital Management LLC purchased a new position in Qfin during the 1st quarter valued at about $201,000. Finally, Ballentine Partners LLC purchased a new position in Qfin during the 1st quarter valued at about $206,000. Institutional investors and hedge funds own 74.81% of the company's stock.

Analyst Upgrades and Downgrades

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

Qfin Stock Down 2.4%

Shares of NASDAQ QFIN traded down $0.70 during trading hours on Thursday, hitting $29.01. The stock had a trading volume of 2,357,331 shares, compared to its average volume of 2,193,433. The company has a market capitalization of $4.57 billion, a P/E ratio of 4.10, a P/E/G ratio of 0.30 and a beta of 0.39. The firm's 50-day moving average price is $37.61 and its two-hundred day moving average price is $40.39. Qfin Holdings Inc. - Sponsored ADR has a 52 week low of $24.30 and a 52 week high of $48.94. 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 announced its quarterly 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). The firm had revenue of $728.00 million during the quarter, compared to the consensus estimate of $4.68 billion. Qfin had a net margin of 38.66% and a return on equity of 30.74%. Analysts anticipate that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current fiscal year.

Qfin Increases Dividend

The business 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 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 yield of 440.0%. Qfin's dividend payout ratio (DPR) is currently 21.19%.

About Qfin

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.