Qifu Technology (NASDAQ:QFIN) Hits New 52-Week High at $20.72

Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $20.72 and last traded at $20.42, with a volume of 80949 shares traded. The stock had previously closed at $19.91.

Wall Street Analyst Weigh In

Separately, Citigroup boosted their price target on Qifu Technology from $23.54 to $23.80 and gave the company a "buy" rating in a research note on Thursday, March 14th.

Qifu Technology Stock Up 5.0 %

The company's fifty day moving average price is $18.39 and its two-hundred day moving average price is $16.23. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 5.71, a price-to-earnings-growth ratio of 0.45 and a beta of 0.57.

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

Qifu Technology Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, May 24th. Investors of record on Monday, April 15th will be given a $0.57 dividend. This represents a yield of 5.7%. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.50. The ex-dividend date of this dividend is Friday, April 12th. Qifu Technology's dividend payout ratio (DPR) is presently 31.15%.

Hedge Funds Weigh In On Qifu Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in Qifu Technology in the fourth quarter valued at about $37,128,000. Principal Financial Group Inc. acquired a new stake in shares of Qifu Technology in the first quarter valued at about $19,995,000. Dimensional Fund Advisors LP increased its position in shares of Qifu Technology by 20.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,901,674 shares of the company's stock worth $30,082,000 after purchasing an additional 324,618 shares during the last quarter. Canada Pension Plan Investment Board raised its position in Qifu Technology by 138.5% during the third quarter. Canada Pension Plan Investment Board now owns 470,910 shares of the company's stock worth $7,233,000 after acquiring an additional 273,500 shares in the last quarter. Finally, Tiger Pacific Capital LP lifted its stake in Qifu Technology by 10.0% in the 4th quarter. Tiger Pacific Capital LP now owns 2,870,710 shares of the company's stock valued at $45,415,000 after purchasing an additional 260,306 shares during the last quarter. 74.81% of the stock is owned by institutional investors.

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.