X Financial (NYSE:XYF) Shares Gap Up After Dividend Announcement

Key Points

• X Financial's shares saw a notable **gap up** opening at **$13.72** after closing at **$12.86** the previous day, despite last trading at **$12.63** with significant volume of **527,529 shares**.
• The company reported earnings of **$1.85 EPS** for the last quarter, with a **net margin of 24.76%** and a **return on equity of 23.30%**, generating **$317.32 million** in revenue.
• Recent institutional investments included **Jump Financial LLC** and **Hhlr Advisors LTD.**, with hedge funds now owning **1.15%** of the company’s stock.

X Financial Sponsored ADR (NYSE:XYF - Get Free Report) gapped up before the market opened on Tuesday following a dividend announcement from the company. The stock had previously closed at $12.86, but opened at $13.72. X Financial shares last traded at $12.63, with a volume of 527,529 shares changing hands.

The newly announced dividend which will be paid on Wednesday, October 15th. Shareholders of record on Friday, September 26th will be issued a dividend of $0.28 per share. This is a boost from X Financial's previous semi-annual dividend of $0.25. This represents a yield of 330.0%. The ex-dividend date of this dividend is Friday, September 26th. X Financial's dividend payout ratio is presently 8.99%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut X Financial from a "strong-buy" rating to a "buy" rating in a report on Friday.

X Financial Price Performance

The firm has a market capitalization of $658.08 million, a PE ratio of 2.95 and a beta of 0.25. The company's fifty day simple moving average is $16.28 and its 200-day simple moving average is $14.32.

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

Hedge Funds Weigh In On X Financial

Several large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC boosted its holdings in shares of X Financial by 29.4% in 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 in the last quarter. Hhlr Advisors LTD. purchased a new stake in X Financial in the 1st quarter valued at approximately $720,000. Finally, Jump Financial LLC acquired a new position in X Financial during the 2nd quarter worth approximately $697,000. Institutional investors and hedge funds own 1.15% of the company's stock.

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.