Qifu Technology (NASDAQ:QFIN) Stock Price Up 9% - Still a Buy?

Shares of Qifu Technology, Inc. (NASDAQ:QFIN - Get Free Report) were up 9% during trading on Monday . The company traded as high as $40.99 and last traded at $39.64. Approximately 743,864 shares traded hands during trading, a decline of 50% from the average daily volume of 1,501,404 shares. The stock had previously closed at $36.37.

Analyst Ratings Changes

Separately, Bank of America increased their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research report on Wednesday, March 26th.

Qifu Technology Price Performance

The stock's fifty day simple moving average is $41.55 and its 200-day simple moving average is $38.03. The stock has a market cap of $5.61 billion, a P/E ratio of 7.21, a PEG ratio of 0.32 and a beta of 0.53.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.68 by $0.14. The firm had revenue of $613.89 million during the quarter, compared to analyst estimates of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. Analysts forecast that Qifu Technology, Inc. will post 5.71 EPS for the current year.

Qifu Technology Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be given a $0.70 dividend. This represents a yield of 2.5%. This is a positive change from Qifu Technology's previous semi-annual dividend of $0.60. The ex-dividend date is Wednesday, April 23rd. Qifu Technology's dividend payout ratio (DPR) is currently 23.79%.

Institutional Investors Weigh In On Qifu Technology

Several large investors have recently modified their holdings of the stock. GeoWealth Management LLC acquired a new position in shares of Qifu Technology in the 4th quarter worth approximately $26,000. Jones Financial Companies Lllp acquired a new position in shares of Qifu Technology during the 4th quarter worth about $29,000. Wilmington Savings Fund Society FSB bought a new stake in Qifu Technology in the third quarter valued at approximately $30,000. Advisors Preferred LLC acquired a new stake in Qifu Technology during the 4th quarter worth $41,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Qifu Technology by 80.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,164 shares of the company's stock valued at $45,000 after purchasing an additional 518 shares in the last quarter. 74.81% of the stock is currently owned by institutional investors.

About Qifu Technology

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.