Swedbank AB Raises Stock Holdings in Qfin Holdings Inc. - Sponsored ADR $QFIN

Key Points

• Swedbank AB increased its stake in Qfin Holdings Inc. by 45.4%, owning approximately 1.3 million shares valued at $58.47 million at the end of the most recent quarter.
• Qfin recently declared a semi-annual dividend of $0.76, representing a significant yield of 541.0%, which is an increase from the previous dividend of $0.70.
• Qfin's stock has faced fluctuations, with a 12-month range between $24.78 and $48.94, reflecting a market cap of $4.47 billion.

Swedbank AB increased its stake in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 45.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,301,900 shares of the company's stock after purchasing an additional 406,600 shares during the quarter. Swedbank AB owned 0.83% of Qfin worth $58,468,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. SVB Wealth LLC bought a new position in shares of Qfin during the 1st quarter valued at approximately $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Qfin in the 1st quarter valued at $29,000. Virtus Investment Advisers Inc. bought a new position in Qfin in the 4th quarter valued at $61,000. Caitong International Asset Management Co. Ltd bought a new position in Qfin in the 1st quarter valued at $108,000. Finally, State of Wyoming bought a new position in Qfin in the 4th quarter valued at $97,000. Institutional investors own 74.81% of the company's stock.

Qfin Stock Down 1.4%

Shares of QFIN traded down $0.44 during midday trading on Thursday, reaching $30.32. 1,357,040 shares of the stock were exchanged, compared to its average volume of 1,735,289. Qfin Holdings Inc. - Sponsored ADR has a 52 week low of $25.10 and a 52 week 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's 50 day moving average is $33.43 and its two-hundred day moving average is $39.08. The company has a market capitalization of $4.78 billion, a P/E ratio of 4.28, a PEG ratio of 0.29 and a beta of 0.45.

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

Qfin Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 8th will be paid a dividend of $0.76 per share. This is an increase from Qfin's previous semi-annual dividend of $0.70. The ex-dividend date is Monday, September 8th. This represents a dividend yield of 541.0%. Qfin's dividend payout ratio (DPR) is currently 21.19%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on QFIN. Wall Street Zen downgraded Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. JPMorgan Chase & Co. began coverage on Qfin in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, According to MarketBeat, Qfin presently has an average rating of "Buy" and an average target price of $51.73.

Qfin Company 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.