Qfin (NASDAQ:QFIN) Stock Price Down 3% - What's Next?

Key Points

• Qfin's stock price has decreased by 3%, falling from a previous close of $30.67 to $29.75, with a notably low trading volume of 200,836 shares, down 88% from its average session volume.
• While a number of analysts have issued mixed ratings, Qfin currently holds an average rating of "Buy" with a consensus price target of $51.73.
• The company recently increased its semi-annual dividend to $0.76 per share, reflecting a substantial yield of 541.0%, up from $0.70 previously.

Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report)'s share price fell 3% during mid-day trading on Friday . The company traded as low as $29.76 and last traded at $29.75. 200,836 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 1,742,368 shares. The stock had previously closed at $30.67.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on QFIN. Wall Street Zen downgraded shares of Qfin from a "buy" rating to a "hold" rating in a research report on Friday, August 22nd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Qfin in a research note on Saturday, September 27th. Finally, JPMorgan Chase & Co. started coverage on shares of Qfin in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price target for the company. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Qfin presently has an average rating of "Buy" and a consensus price target of $51.73.

Qfin Stock Performance

The company has a market cap of $4.65 billion, a P/E ratio of 4.17, a PEG ratio of 0.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48. The stock has a fifty day moving average price of $30.88 and a two-hundred day moving average price of $38.13.

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

Qfin Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 8th were paid a dividend of $0.76 per share. This represents a yield of 541.0%. The ex-dividend date of this dividend was Monday, September 8th. This is a positive change from Qfin's previous semi-annual dividend of $0.70. Qfin's dividend payout ratio is 21.19%.

Hedge Funds Weigh In On Qfin

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in Qfin by 6.1% during the 1st quarter. Bank of New York Mellon Corp now owns 125,955 shares of the company's stock valued at $5,657,000 after buying an additional 7,197 shares during the period. Citigroup Inc. boosted its position in shares of Qfin by 3.2% during the 1st quarter. Citigroup Inc. now owns 277,647 shares of the company's stock valued at $12,469,000 after purchasing an additional 8,515 shares in the last quarter. Yousif Capital Management LLC bought a new position in shares of Qfin during the 1st quarter valued at about $209,000. Oppenheimer & Co. Inc. bought a new position in shares of Qfin during the 1st quarter valued at about $208,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Qfin by 183.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 888,680 shares of the company's stock worth $39,911,000 after buying an additional 575,545 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company's stock.

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.

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