X Financial (NYSE:XYF) Shares Gap Up Following 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 prior to trading on Tuesday after the company announced a dividend. 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. The ex-dividend date of this dividend is Friday, September 26th. This represents a dividend yield of 330.0%. X Financial's payout ratio is currently 8.99%.

Analyst Ratings Changes

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

X Financial Stock Performance

The stock's fifty day moving average is $16.28 and its 200 day moving average is $14.36. The stock has a market cap of $658.08 million, a P/E ratio of 2.95 and a beta of 0.25.

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

Institutional Trading of X Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jump Financial LLC purchased a new stake in X Financial in the 2nd quarter worth about $697,000. Acadian Asset Management LLC increased its holdings 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 buying an additional 24,395 shares during the period. Finally, Hhlr Advisors LTD. purchased a new position in X Financial during the first quarter valued at approximately $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.