Qfin (NASDAQ:QFIN) Stock Price Up 5.9% - Time to Buy?

Key Points

• Qfin Holdings Inc. shares rose by 5.9% during mid-day trading, reaching a price of $30.55, with a significant decline in trading volume compared to previous sessions.
• Recent analyst ratings have shown a shift, with Wall Street Zen downgrading the stock from "buy" to "hold," while JPMorgan issued an "overweight" rating with a target price of $65.00.
• Qfin has increased its semi-annual dividend to $0.76 per share, up from $0.70, representing a yield of 541.0% based on its payout ratio of 21.19%.

Shares of Qfin Holdings Inc. - Sponsored ADR (NASDAQ:QFIN - Get Free Report) shot up 5.9% during mid-day trading on Wednesday . The company traded as high as $30.26 and last traded at $30.55. 1,012,145 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 1,718,279 shares. The stock had previously closed at $28.84.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on QFIN. JPMorgan Chase & Co. assumed coverage on shares of Qfin in a research report on Wednesday, July 2nd. They set an "overweight" rating and a $65.00 price target on the stock. Wall Street Zen lowered shares of Qfin from a "buy" rating to a "hold" rating in a research note on Friday, August 22nd. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $51.73.

Qfin Trading Down 0.8%

The stock has a market capitalization of $4.74 billion, a PE ratio of 4.23, a P/E/G ratio of 0.31 and a beta of 0.45. The company's 50 day moving average price is $33.18 and its two-hundred day moving average price is $39.02. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48.

Qfin (NASDAQ:QFIN - Get Free Report) last posted its quarterly 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 firm had revenue of $728.00 million for 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%. As a group, analysts expect that Qfin Holdings Inc. - Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Increases Dividend

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

Hedge Funds Weigh In On Qfin

Several institutional investors and hedge funds have recently made changes to their positions in the business. HB Wealth Management LLC increased its holdings in shares of Qfin by 7.2% during the first quarter. HB Wealth Management LLC now owns 6,431 shares of the company's stock valued at $289,000 after purchasing an additional 431 shares during the period. Personal CFO Solutions LLC raised its stake in shares of Qfin by 6.9% in the second quarter. Personal CFO Solutions LLC now owns 8,141 shares of the company's stock valued at $353,000 after purchasing an additional 526 shares in the last quarter. iA Global Asset Management Inc. grew its position in Qfin by 250.2% in the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company's stock valued at $36,000 after acquiring an additional 588 shares during the period. US Bancorp DE boosted its holdings in Qfin by 4.1% in the second quarter. US Bancorp DE now owns 15,508 shares of the company's stock valued at $672,000 after acquiring an additional 604 shares during the last quarter. Finally, Hantz Financial Services Inc. boosted its holdings in 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 buying an additional 610 shares during the last quarter. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

About Qfin

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.