Qfin Holdings Inc. - Sponsored ADR $QFIN Shares Purchased by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Qfin Holdings Inc. by 193.7% in Q2, now owning approximately 82,378 shares valued at $3.57 million.
• The company recently declared a boosted semi-annual dividend of $0.76, which is a yield of 541.0%, an increase from its previous dividend of $0.70.
• Analysts have cut Qfin's ratings from "buy" to "hold" and "strong sell," with its current average rating being "hold" and an average price target of $51.73.

OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 193.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,378 shares of the company's stock after purchasing an additional 54,325 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd owned 0.05% of Qfin worth $3,571,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in Qfin by 6.1% during the first quarter. Bank of New York Mellon Corp now owns 125,955 shares of the company's stock worth $5,657,000 after purchasing an additional 7,197 shares during the last quarter. Citigroup Inc. raised its holdings 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. Oppenheimer & Co. Inc. acquired a new position in Qfin during the first quarter worth $208,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Qfin by 183.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 888,680 shares of the company's stock worth $39,911,000 after purchasing an additional 575,545 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Qfin by 52.9% during the first quarter. Principal Financial Group Inc. now owns 61,384 shares of the company's stock worth $2,757,000 after purchasing an additional 21,250 shares during the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

QFIN has been the subject of a number of analyst reports. Wall Street Zen cut Qfin from a "buy" rating to a "hold" rating in a report on Friday, August 22nd. Weiss Ratings cut Qfin from a "buy (b-)" rating to a "hold (c+)" rating in a report on Saturday. JPMorgan Chase & Co. initiated coverage on Qfin in a report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price target for the company. Finally, Zacks Research cut Qfin from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 14th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $51.73.

Qfin Price Performance

QFIN stock opened at $24.86 on Tuesday. The stock has a 50-day moving average price of $28.73 and a two-hundred day moving average price of $36.30. Qfin Holdings Inc. - Sponsored ADR has a 12-month low of $24.81 and a 12-month high of $48.94. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20. The company has a market cap of $3.53 billion, a PE ratio of 3.51, a price-to-earnings-growth ratio of 0.28 and a beta of 0.42.

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

Qfin Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th were issued a $0.76 dividend. The ex-dividend date was Monday, September 8th. This represents a yield of 541.0%. This is a boost from Qfin's previous semi-annual dividend of $0.70. 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.

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