Noah (NYSE:NOAH) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Noah Holdings Ltd.'s shares passed above its 200-day moving average of $11.03, reaching a high of $11.58 during trading on Tuesday.
• Wall Street analysts have mixed ratings for Noah, with one research firm maintaining a Buy rating, while others have downgraded it to Hold, leading to an average rating of "Hold" with a target price of $12.00.
• The company reported earnings of $0.37 EPS for the last quarter, surpassing analysts' expectations of $86.31 million in revenue, which totaled $87.87 million.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.03 and traded as high as $11.58. Noah shares last traded at $11.49, with a volume of 95,679 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on NOAH. Wall Street Zen cut Noah from a "buy" rating to a "hold" rating in a report on Saturday, September 20th. Weiss Ratings upgraded Noah from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $12.00.

Noah Stock Performance

The business has a fifty day simple moving average of $11.86 and a 200 day simple moving average of $11.03. The stock has a market cap of $760.08 million, a price-to-earnings ratio of 10.25 and a beta of 0.87.

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

Noah Cuts Dividend

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

Institutional Investors Weigh In On Noah

Several hedge funds have recently made changes to their positions in the business. Bank of America Corp DE boosted its holdings in shares of Noah by 2.2% during the second quarter. Bank of America Corp DE now owns 99,919 shares of the asset manager's stock worth $1,193,000 after purchasing an additional 2,163 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Noah in the 2nd quarter worth $14,128,000. Marshall Wace LLP purchased a new position in shares of Noah in the 2nd quarter worth $306,000. Russell Investments Group Ltd. raised its position in shares of Noah by 10.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager's stock worth $429,000 after buying an additional 3,251 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Noah by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager's stock worth $1,666,000 after buying an additional 2,084 shares during the period. Institutional investors and hedge funds own 42.67% of the company's stock.

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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