Qifu Technology (NASDAQ:QFIN) Sets New 12-Month High at $20.62

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $20.62 and last traded at $20.50, with a volume of 98710 shares. The stock had previously closed at $19.90.

Analyst Ratings Changes

QFIN has been the topic of several recent research reports. Nomura initiated coverage on shares of Qifu Technology in a research note on Monday, December 18th. They set a "buy" rating on the stock. Citigroup lifted their target price on shares of Qifu Technology from $23.54 to $23.80 and gave the stock a "buy" rating in a research note on Thursday, March 14th.

Qifu Technology Stock Performance

The firm's 50 day simple moving average is $16.86 and its 200-day simple moving average is $15.77. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 5.46, a PEG ratio of 0.46 and a beta of 0.62.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last announced its earnings results on Tuesday, March 12th. The company reported $0.96 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.96. The company had revenue of $633.18 million for the quarter, compared to analysts' expectations of $597.09 million. Qifu Technology had a net margin of 26.29% and a return on equity of 20.44%. As a group, sell-side analysts expect that Qifu Technology, Inc. will post 4.31 EPS for the current fiscal year.

Qifu Technology Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Friday, May 24th. Stockholders of record on Monday, April 15th will be given a dividend of $0.57 per share. This is a boost from Qifu Technology's previous semi-annual dividend of $0.50. The ex-dividend date is Friday, April 12th. This represents a dividend yield of 5.7%. Qifu Technology's payout ratio is presently 31.15%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Morgan Stanley boosted its position in shares of Qifu Technology by 2.1% during the 4th quarter. Morgan Stanley now owns 7,715,149 shares of the company's stock valued at $157,080,000 after acquiring an additional 161,496 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Qifu Technology by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 4,975,876 shares of the company's stock valued at $76,579,000 after acquiring an additional 126,007 shares during the last quarter. BlackRock Inc. boosted its position in shares of Qifu Technology by 3.8% during the 3rd quarter. BlackRock Inc. now owns 4,159,482 shares of the company's stock valued at $53,323,000 after acquiring an additional 151,973 shares during the last quarter. First Beijing Investment Ltd acquired a new position in shares of Qifu Technology during the 2nd quarter valued at about $50,280,000. Finally, Tiger Pacific Capital LP boosted its position in shares of Qifu Technology by 10.0% during the 4th quarter. Tiger Pacific Capital LP now owns 2,870,710 shares of the company's stock valued at $45,415,000 after acquiring an additional 260,306 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company's stock.

About Qifu Technology

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.