Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN) Shares Acquired by US Bancorp DE

US Bancorp DE increased its position in shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Free Report) by 173.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,904 shares of the company's stock after buying an additional 9,463 shares during the quarter. US Bancorp DE's holdings in Qfin were worth $669,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Qfin by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 125,955 shares of the company's stock valued at $5,657,000 after buying an additional 7,197 shares during the period. Yousif Capital Management LLC purchased a new stake in shares of Qfin during the 1st quarter valued at approximately $209,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Qfin during the 1st quarter valued at approximately $208,000. Principal Financial Group Inc. raised its position in shares of Qfin by 52.9% during the 1st quarter. Principal Financial Group Inc. now owns 61,384 shares of the company's stock valued at $2,757,000 after buying an additional 21,250 shares during the period. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of Qfin by 583.8% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 484,322 shares of the company's stock valued at $21,751,000 after buying an additional 413,493 shares during the period. Hedge funds and other institutional investors own 74.81% of the company's stock.

Analysts Set New Price Targets

QFIN has been the topic of a number of research analyst reports. Wall Street Zen lowered Qfin from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. initiated coverage on Qfin in a research report on Wednesday, July 2nd. They issued an "overweight" rating and a $65.00 target price on the stock.

Qfin Trading Down 3.7%

NASDAQ QFIN traded down $1.23 on Friday, reaching $32.08. The stock had a trading volume of 904,356 shares, compared to its average volume of 1,697,549. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of 4.95, a P/E/G ratio of 0.43 and a beta of 0.39. The company has a quick ratio of 3.08, a current ratio of 3.08 and a debt-to-equity ratio of 0.21. Qfin Holdings Inc. - Sponsored ADR has a 12-month low of $23.81 and a 12-month high of $48.94. The stock has a fifty day moving average price of $40.03 and a two-hundred day moving average price of $41.16.

Qfin (NASDAQ:QFIN - Get Free Report) last announced its 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). The firm had revenue of $728.00 million during the quarter, compared to analysts' expectations of $4.68 billion. Qfin had a net margin of 38.99% and a return on equity of 29.73%. As a group, sell-side analysts forecast 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.