Qfin (NASDAQ:QFIN) Shares Down 4.3% - Here's Why

Key Points

• Qfin Holdings Inc. shares fell 4.3%, trading around $30.58, with a significant decrease in volume of 84% from the average daily volume.
• Wall Street analysts have downgraded Qfin from a "strong-buy" to a "buy" rating and set a price target of $65.00.
• The company reported $1.78 EPS for the recent quarter, missing the consensus estimate, and had revenue of $728 million, significantly below expectations of $4.68 billion.

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report) dropped 4.3% on Monday . The stock traded as low as $30.36 and last traded at $30.58. Approximately 264,669 shares were traded during trading, a decline of 84% from the average daily volume of 1,700,012 shares. The stock had previously closed at $31.95.

Wall Street Analyst Weigh In

QFIN has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on Qfin in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 target price on the stock. Wall Street Zen cut shares of Qfin from a "buy" rating to a "hold" rating in a research note on Friday. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $51.73.

Qfin Trading Up 2.5%

The company has a current ratio of 3.48, a quick ratio of 3.08 and a debt-to-equity ratio of 0.20. The stock has a market capitalization of $4.96 billion, a P/E ratio of 4.44, a price-to-earnings-growth ratio of 0.31 and a beta of 0.39. The company has a 50-day moving average price of $38.64 and a 200 day moving average price of $40.73.

Qfin (NASDAQ:QFIN - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported $1.78 earnings per share for the quarter, missing analysts' consensus estimates of $1.79 by ($0.01). The business had revenue of $728.00 million during the quarter, compared to analyst estimates of $4.68 billion. Qfin had a return on equity of 30.74% and a net margin of 38.66%. On average, research analysts forecast that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current fiscal year.

Qfin Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th will be given a $0.76 dividend. This represents a dividend yield of 440.0%. The ex-dividend date of this dividend is Monday, September 8th. This is a positive change from Qfin's previous semi-annual dividend of $0.70. Qfin's payout ratio is 21.19%.

Hedge Funds Weigh In On Qfin

Several hedge funds have recently made changes to their positions in QFIN. GeoWealth Management LLC acquired a new stake in Qfin during the 4th quarter worth about $26,000. SVB Wealth LLC acquired a new stake in shares of Qfin during the 1st quarter valued at about $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Qfin during the 1st quarter worth about $29,000. Hantz Financial Services Inc. increased its position in shares of Qfin by 472.9% during the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company's stock worth $32,000 after purchasing an additional 610 shares in the last quarter. Finally, Hoey Investments Inc. purchased a new stake in shares of Qfin during the second quarter worth approximately $33,000. 74.81% of the stock is owned by institutional investors and hedge funds.

Qfin Company Profile

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.