Noah (NYSE:NOAH) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Noah Holdings Ltd. experienced unusually strong trading volume with approximately 132,145 shares changing hands, despite a decline from the previous session.
• Analysts downgraded Noah from a "buy" to a "hold" rating, with the stock currently holding a consensus "Hold" rating and an average price target of $12.00.
• Noah's reported earnings for the last quarter were $0.37 EPS with revenue exceeding analyst estimates, while the company has recently cut its dividend payout.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 132,145 shares changed hands during mid-day trading, a decline of 14% from the previous session's volume of 153,284 shares.The stock last traded at $11.73 and had previously closed at $11.59.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Noah from a "buy" rating to a "hold" rating in a research report on Saturday, September 20th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.00.

Noah Trading Up 4.0%

The company has a market capitalization of $797.47 million, a price-to-earnings ratio of 10.75 and a beta of 0.90. The stock's 50 day moving average price is $11.95 and its 200 day moving average price is $10.97.

Noah (NYSE:NOAH - Get Free Report) last released its earnings results on Wednesday, August 27th. The asset manager reported $0.37 earnings per share (EPS) for the quarter. Noah had a return on equity of 6.44% and a net margin of 22.17%.The business had revenue of $87.87 million for the quarter, compared to analyst estimates of $86.31 million. On average, research analysts expect that Noah Holdings Ltd. will post 0.93 earnings per share for the current year.

Noah Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were issued a $1.1572 dividend. This represents a dividend yield of 830.0%. The ex-dividend date of this dividend was Thursday, July 3rd. Noah's dividend payout ratio is presently 50.00%.

Institutional Trading of Noah

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its position in shares of Noah by 1,066.6% in the 4th quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager's stock valued at $982,000 after acquiring an additional 76,710 shares during the period. Janney Montgomery Scott LLC acquired a new position in Noah during the first quarter worth approximately $354,000. Russell Investments Group Ltd. raised its stake in Noah by 1,440.2% in the first quarter. Russell Investments Group Ltd. now owns 32,376 shares of the asset manager's stock valued at $328,000 after buying an additional 30,274 shares during the period. Acadian Asset Management LLC lifted its position in shares of Noah by 61.9% in the first quarter. Acadian Asset Management LLC now owns 696,967 shares of the asset manager's stock valued at $6,563,000 after buying an additional 266,602 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Noah by 198.3% during the 1st quarter. Hsbc Holdings PLC now owns 38,002 shares of the asset manager's stock worth $362,000 after acquiring an additional 25,263 shares during the period. 42.67% of the stock is owned by institutional investors.

About Noah

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.

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