X Financial (NYSE:XYF) Downgraded by Wall Street Zen to Buy

Key Points

• X Financial's stock rating was downgraded from a "strong-buy" to a "buy" by Wall Street Zen.
• The company's stock price increased by 6.5%, with a current price of $15.75 and a market capitalization of $658.08 million.
• X Financial reported earnings of $1.85 per share for the last quarter, demonstrating a net margin of 23.30%.

Wall Street Zen lowered shares of X Financial (NYSE:XYF - Free Report) from a strong-buy rating to a buy rating in a research report released on Friday morning.

X Financial Stock Performance

Shares of X Financial stock traded down $0.20 on Friday, hitting $14.79. 263,033 shares of the company traded hands, compared to its average volume of 514,777. The stock has a market capitalization of $617.72 million, a P/E ratio of 2.77 and a beta of 0.25. X Financial has a 52 week low of $4.36 and a 52 week high of $20.35. The business has a 50-day simple moving average of $16.12 and a 200 day simple moving average of $14.51.

X Financial (NYSE:XYF - Get Free Report) last released its quarterly earnings data on Monday, August 18th. The company reported $1.85 earnings per share (EPS) for the quarter. The firm had revenue of $317.32 million for the quarter. X Financial had a net margin of 23.30% and a return on equity of 25.42%.

X Financial Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, September 26th will be paid a $0.28 dividend. This represents a dividend yield of 330.0%. The ex-dividend date of this dividend is Friday, September 26th. This is an increase from X Financial's previous semi-annual dividend of $0.25. X Financial's dividend payout ratio is 8.99%.

Hedge Funds Weigh In On X Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jump Financial LLC bought a new position in X Financial during the second quarter valued at $697,000. Acadian Asset Management LLC increased its position in X Financial by 29.4% during the first quarter. Acadian Asset Management LLC now owns 107,272 shares of the company's stock valued at $1,534,000 after acquiring an additional 24,395 shares during the last quarter. Finally, Hhlr Advisors LTD. bought a new position in X Financial during the first quarter valued at $720,000. 1.15% of the stock is owned by hedge funds and other institutional investors.

About X Financial

X Financial provides personal finance services in the People's Republic of China. The company offers services as an online marketplace connecting borrowers and investors or institutional funding partners. Its loan products include Xiaoying credit loan, which consists of Xiaoying card loan; and Xiaoying preferred loan to small business owners.