X Financial (NYSE:XYF) Stock Price Down 13% - Here's Why

X Financial (NYSE:XYF - Get Free Report)'s stock price dropped 13% during mid-day trading on Friday . The stock traded as low as $13.04 and last traded at $13.39. Approximately 87,573 shares were traded during mid-day trading, an increase of 51% from the average daily volume of 58,052 shares. The stock had previously closed at $15.40.

X Financial Price Performance

The company has a market capitalization of $600.32 million, a P/E ratio of 3.24 and a beta of -0.10. The firm's 50-day moving average is $11.16 and its 200-day moving average is $8.56.

X Financial (NYSE:XYF - Get Free Report) last posted its quarterly earnings data on Wednesday, March 19th. The company reported $1.13 EPS for the quarter. X Financial had a return on equity of 20.66% and a net margin of 25.03%. The firm had revenue of $234.09 million for the quarter.

X Financial Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Friday, June 20th will be issued a $0.25 dividend. This represents a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, June 20th. This is an increase from X Financial's previous semi-annual dividend of $0.17. X Financial's payout ratio is 7.36%.

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.