X Financial (NYSE:XYF) Shares Gap Up - Time to Buy?

Key Points

• X Financial (NYSE:XYF) shares opened at $15.29, up from a previous close of $14.82, with recent trading showing a price of $14.92 and a volume of 56,919 shares.
• The company reported a semi-annual dividend increase from $0.25 to $0.28 per share, indicating a yield of 330.0% and a low dividend payout ratio of 8.99%.
• Wall Street Zen has downgraded X Financial from a "strong-buy" to a "buy" rating, reflecting a cautious outlook amidst its recent price performance.

X Financial Sponsored ADR (NYSE:XYF - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $14.82, but opened at $15.29. X Financial shares last traded at $14.92, with a volume of 56,919 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of X Financial from a "strong-buy" rating to a "buy" rating in a report on Friday, August 22nd.

X Financial Stock Down 2.9%

The company's 50-day moving average is $14.89 and its two-hundred day moving average is $15.12. The company has a market capitalization of $612.49 million, a P/E ratio of 2.75 and a beta of 0.30.

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. The company 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 declared a semi-annual dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, September 26th. This is an increase from X Financial's previous semi-annual dividend of $0.25. This represents a yield of 330.0%. X Financial's dividend payout ratio (DPR) is 8.99%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC grew 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 worth $1,534,000 after purchasing an additional 24,395 shares during the last quarter. Jump Financial LLC bought a new position in shares of X Financial in the second quarter worth approximately $697,000. Finally, Hhlr Advisors LTD. bought a new position in shares of X Financial in the first quarter worth approximately $720,000. 1.15% of the stock is currently owned by institutional investors.

X Financial Company Profile

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.