X Financial (NYSE:XYF) Stock Price Up 5.5% - Here's Why

Key Points

• X Financial's shares increased by 5.5%, reaching a last trading price of $14.78, although trading volume was significantly below average.
• The company recently declared a semi-annual dividend of $0.28 per share, representing a 330.0% yield, an increase from the previous dividend of $0.25.
• Wall Street analysts have downgraded X Financial’s rating from "strong-buy" to "buy," reflecting a shift in market sentiment.

X Financial Sponsored ADR (NYSE:XYF - Get Free Report)'s share price was up 5.5% during mid-day trading on Wednesday . The stock traded as high as $14.55 and last traded at $14.78. Approximately 61,533 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 283,134 shares. The stock had previously closed at $14.01.

Analyst Ratings Changes

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

X Financial Trading Down 1.1%

The stock has a market capitalization of $612.12 million, a P/E ratio of 2.75 and a beta of 0.30. The stock's 50 day simple moving average is $15.06 and its 200 day simple moving average is $15.02.

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

X Financial Increases Dividend

The firm also recently announced a semi-annual 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 represents a dividend yield of 330.0%. This is a positive change from X Financial's previous semi-annual dividend of $0.25. The ex-dividend date of this dividend is Friday, September 26th. X Financial's dividend payout ratio is currently 8.99%.

Institutional Trading of X Financial

A number of institutional investors and hedge funds have recently modified their holdings of XYF. Hhlr Advisors LTD. acquired a new stake in shares of X Financial during the first quarter worth $720,000. Jump Financial LLC acquired a new stake in shares of X Financial in the 2nd quarter worth about $697,000. Finally, Acadian Asset Management LLC increased its holdings in shares of X Financial by 29.4% in the 1st quarter. Acadian Asset Management LLC now owns 107,272 shares of the company's stock worth $1,534,000 after acquiring an additional 24,395 shares during the period. 1.15% of the stock is owned by institutional investors and hedge funds.

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.