Qifu Technology (NASDAQ:QFIN) Stock Price Up 1.3%

Shares of Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) rose 1.3% on Wednesday . The stock traded as high as $20.28 and last traded at $20.24. Approximately 54,573 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 1,092,139 shares. The stock had previously closed at $19.99.

Wall Street Analysts Forecast Growth

QFIN has been the subject of a number of recent research reports. Citigroup increased their price target 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. Nomura initiated coverage on shares of Qifu Technology in a research note on Monday, December 18th. They set a "buy" rating for the company.

Qifu Technology Trading Down 0.5 %

The company has a market cap of $3.21 billion, a PE ratio of 5.44, a price-to-earnings-growth ratio of 0.46 and a beta of 0.62. The business has a 50 day simple moving average of $16.74 and a two-hundred day simple moving average of $15.74.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its earnings results on Tuesday, March 12th. The company reported $0.96 earnings per share for the quarter, meeting analysts' consensus estimates of $0.96. Qifu Technology had a return on equity of 20.44% and a net margin of 26.29%. The firm had revenue of $633.18 million for the quarter, compared to analysts' expectations of $597.09 million. On average, equities research analysts expect that Qifu Technology, Inc. will post 4.31 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Friday, May 24th. Shareholders of record on Monday, April 15th will be issued a $0.57 dividend. This represents a yield of 5.7%. The ex-dividend date is Friday, April 12th. This is a boost from Qifu Technology's previous semi-annual dividend of $0.50. Qifu Technology's dividend payout ratio is currently 26.78%.

Hedge Funds Weigh In On Qifu Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its position in shares of Qifu Technology by 83.9% during the fourth quarter. Parallel Advisors LLC now owns 2,426 shares of the company's stock worth $38,000 after buying an additional 1,107 shares in the last quarter. Employees Retirement System of Texas acquired a new position in Qifu Technology during the 3rd quarter worth $51,000. Clear Street Markets LLC bought a new stake in shares of Qifu Technology in the 3rd quarter worth about $58,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Qifu Technology in the 2nd quarter valued at about $84,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Qifu Technology by 164.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,203 shares of the company's stock valued at $67,000 after acquiring an additional 3,236 shares during the last quarter. 74.81% of the stock is owned by hedge funds and other 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.