Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Holdings in Qifu Technology, Inc. (NASDAQ:QFIN)

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 59.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,596 shares of the company's stock after selling 114,670 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Qifu Technology were worth $1,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Qifu Technology by 18.5% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 243,658 shares of the company's stock worth $3,855,000 after buying an additional 38,095 shares in the last quarter. Custom Index Systems LLC bought a new position in shares of Qifu Technology in the fourth quarter worth approximately $443,000. Altfest L J & Co. Inc. lifted its stake in shares of Qifu Technology by 16.0% in the fourth quarter. Altfest L J & Co. Inc. now owns 22,960 shares of the company's stock worth $363,000 after buying an additional 3,171 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Qifu Technology by 69.5% in the fourth quarter. SG Americas Securities LLC now owns 43,718 shares of the company's stock worth $692,000 after buying an additional 17,922 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning bought a new position in shares of Qifu Technology in the fourth quarter worth approximately $150,000. Institutional investors own 74.81% of the company's stock.

Qifu Technology Price Performance

Qifu Technology stock traded down $0.35 during midday trading on Friday, reaching $18.52. 1,469,937 shares of the company traded hands, compared to its average volume of 966,443. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of 5.06, a price-to-earnings-growth ratio of 0.44 and a beta of 0.62. The business has a 50 day moving average of $17.67 and a two-hundred day moving average of $15.99. Qifu Technology, Inc. has a 12 month low of $13.12 and a 12 month high of $20.61.

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

Qifu Technology Increases Dividend

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

Analyst Upgrades and Downgrades

Separately, Citigroup increased their price objective on shares of Qifu Technology from $23.54 to $23.80 and gave the company a "buy" rating in a research report on Thursday, March 14th.

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.