Qfin Holdings Inc. - Sponsored ADR $QFIN Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its QFIN stake by 48.5% in the first quarter, bringing its holdings to 1.99 million shares valued at approximately $25.7 million. Institutional investors and hedge funds collectively own 74.81% of the stock.
• QFIN reported quarterly earnings of $1.12 per share on $567.0 million in revenue, with a 27.48% net margin and 20.85% return on equity. Shares opened at $11.94, near the company’s 12-month low of $11.31 and well below its $32.69 high.
• Analyst sentiment remains cautious, with a consensus rating of “Hold” and an average price target of $16.31. One director also purchased 4,000 shares at $14.41 each, increasing their personal stake by 26.67%.

Bank of America Corp DE increased its holdings in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 48.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,987,457 shares of the company's stock after purchasing an additional 649,492 shares during the period. Bank of America Corp DE owned 1.40% of Qfin worth $25,658,000 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Qfin during the first quarter worth about $29,000. Parallel Advisors LLC boosted its holdings in Qfin by 24.1% in the 4th quarter. Parallel Advisors LLC now owns 3,373 shares of the company's stock worth $65,000 after acquiring an additional 656 shares during the period. Daiwa Securities Group Inc. grew its position in Qfin by 14.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 5,600 shares of the company's stock valued at $108,000 after acquiring an additional 700 shares in the last quarter. DGS Capital Management LLC grew its position in Qfin by 8.8% in the first quarter. DGS Capital Management LLC now owns 10,906 shares of the company's stock valued at $141,000 after acquiring an additional 878 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ raised its stake in shares of Qfin by 5.4% during the fourth quarter. Lansforsakringar Fondforvaltning AB publ now owns 19,600 shares of the company's stock valued at $378,000 after purchasing an additional 1,000 shares during the period. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Qfin Stock Performance

Shares of QFIN opened at $11.94 on Tuesday. The stock has a market capitalization of $1.45 billion, a PE ratio of 2.19 and a beta of 0.63. The business's fifty day moving average price is $14.06 and its 200 day moving average price is $14.10. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.22 and a quick ratio of 2.22. Qfin Holdings Inc. - Sponsored ADR has a 12-month low of $11.31 and a 12-month high of $32.69.

Qfin (NASDAQ:QFIN - Get Free Report) last released its earnings results on Friday, May 15th. The company reported $1.12 earnings per share for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. The firm had revenue of $567.01 million during the quarter. Equities research analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 3.74 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on QFIN shares. Zacks Research raised shares of Qfin from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Weiss Ratings lowered shares of Qfin from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, July 13th. JPMorgan Chase & Co. decreased their price objective on shares of Qfin from $14.50 to $13.50 and set a "neutral" rating for the company in a research report on Tuesday, August 11th. Deutsche Bank Aktiengesellschaft set a $13.00 target price on Qfin in a research note on Wednesday, August 12th. Finally, Bank of America reaffirmed a "neutral" rating and set a $15.33 target price on shares of Qfin in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $16.31.

Insider Transactions at Qfin

In related news, Director Xiaohuan Chen bought 4,000 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was bought at an average cost of $14.41 per share, for a total transaction of $57,640.00. Following the completion of the purchase, the director directly owned 19,000 shares in the company, valued at approximately $273,790. The trade was a 26.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 17.10% of the stock is owned by corporate insiders.

Qfin Company Profile

360 DigiTech, Inc NASDAQ: QFIN is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company's flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.

Want to see what other hedge funds are holding QFIN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report).

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