Qfin (NASDAQ:QFIN) Shares Up 5.9% - What's Next?

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) rose 5.9% during trading on Wednesday . The company traded as high as $30.26 and last traded at $30.55. Approximately 1,012,145 shares were traded during trading, a decline of 41% from the average daily volume of 1,718,279 shares. The stock had previously closed at $28.84.

Analyst Upgrades and Downgrades

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

Qfin Stock Performance

The company's 50-day moving average price is $32.93 and its two-hundred day moving average price is $38.91. The company has a market cap of $4.78 billion, a P/E ratio of 4.28, a price-to-earnings-growth ratio of 0.31 and a beta of 0.45. The company has a current ratio of 3.48, a quick ratio of 3.48 and a debt-to-equity ratio of 0.20.

Qfin (NASDAQ:QFIN - Get Free Report) last announced 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 firm 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%. As a group, equities analysts forecast 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. Stockholders of record on Monday, September 8th will be paid a $0.76 dividend. The ex-dividend date is Monday, September 8th. This represents a dividend yield of 541.0%. This is a boost from Qfin's previous semi-annual dividend of $0.70. Qfin's dividend payout ratio is presently 21.19%.

Institutional Trading of Qfin

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Qfin by 10,812.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,042,306 shares of the company's stock worth $91,720,000 after acquiring an additional 2,023,590 shares during the last quarter. Aspex Management HK Ltd grew its position in Qfin by 30.5% in the second quarter. Aspex Management HK Ltd now owns 6,612,366 shares of the company's stock valued at $286,712,000 after acquiring an additional 1,547,312 shares during the last quarter. Krane Funds Advisors LLC grew its holdings in shares of Qfin by 24.4% during the first quarter. Krane Funds Advisors LLC now owns 7,032,927 shares of the company's stock worth $315,849,000 after purchasing an additional 1,381,624 shares during the last quarter. Keystone Investors PTE Ltd. bought a new stake in Qfin in the first quarter valued at approximately $52,814,000. Finally, Norges Bank bought a new stake in Qfin in the second quarter valued at approximately $43,265,000. 74.81% of the stock is owned by 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.