National Bank of Canada FI Has $39.67 Million Stock Holdings in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN)

Key Points

• National Bank of Canada FI increased its stake in Qifu Technology, Inc. by 44.7%, acquiring an additional 273,053 shares, bringing its total ownership to 883,412 shares valued at approximately $39.67 million.
• Qifu Technology reported earnings per share (EPS) of $1.74, exceeding analyst expectations of $1.72, and had a net margin of 38.99% for the quarter.
• Institutional investors collectively hold 74.81% of Qifu Technology's stock, signaling strong institutional interest in the company.

National Bank of Canada FI grew its stake in Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 44.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 883,412 shares of the company's stock after buying an additional 273,053 shares during the quarter. National Bank of Canada FI owned 0.56% of Qfin worth $39,669,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Citigroup Inc. lifted its stake in Qfin by 3.2% during the first quarter. Citigroup Inc. now owns 277,647 shares of the company's stock worth $12,469,000 after purchasing an additional 8,515 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Qfin during the first quarter worth approximately $151,000. Deutsche Bank AG lifted its stake in Qfin by 4.2% during the first quarter. Deutsche Bank AG now owns 314,460 shares of the company's stock worth $14,122,000 after purchasing an additional 12,715 shares during the last quarter. Vanguard Group Inc. lifted its stake in Qfin by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,572,985 shares of the company's stock valued at $205,373,000 after buying an additional 31,155 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Qfin by 173.9% in the first quarter. US Bancorp DE now owns 14,904 shares of the company's stock valued at $669,000 after buying an additional 9,463 shares during the last quarter. Hedge funds and other institutional investors own 74.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wall Street Zen cut Qfin from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. assumed coverage on Qfin in a research note on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price target for the company.

Qfin Trading Down 3.7%

NASDAQ QFIN traded down $1.30 during trading hours on Thursday, hitting $33.56. 889,041 shares of the company's stock were exchanged, compared to its average volume of 1,697,854. The business's 50 day moving average is $40.22 and its 200-day moving average is $41.21. The firm has a market capitalization of $5.29 billion, a P/E ratio of 5.14, a price-to-earnings-growth ratio of 0.42 and a beta of 0.39. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.08 and a current ratio of 3.08. Qfin Holdings Inc. - Sponsored ADR has a 12-month low of $23.49 and a 12-month high of $48.94.

Qfin (NASDAQ:QFIN - Get Free Report) last announced its earnings results on Monday, May 19th. The company reported $1.74 EPS for the quarter, beating the consensus estimate of $1.72 by $0.02. Qfin had a return on equity of 29.73% and a net margin of 38.99%. The business had revenue of $646.19 million for the quarter, compared to the consensus estimate of $4.61 billion. As a group, analysts anticipate that Qfin Holdings Inc. - Sponsored ADR will post 5.71 EPS for the current fiscal year.

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.