Qfin (NASDAQ:QFIN) Shares Down 3% – Here’s Why

Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) shares dropped 3% during trading on Friday . The stock traded as low as $29.76 and last traded at $29.75. Approximately 200,836 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 1,742,368 shares. The stock had previously closed at $30.67.

Analyst Ratings Changes

QFIN has been the subject of several recent analyst reports. Wall Street Zen cut Qfin from a “buy” rating to a “hold” rating in a report on Friday, August 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Qfin in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. started coverage on Qfin in a report on Wednesday, July 2nd. They issued an “overweight” rating and a $65.00 price target for the company. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $51.73.

Qfin Stock Performance

The firm has a market cap of $4.65 billion, a PE ratio of 4.17, a P/E/G ratio of 0.31 and a beta of 0.42. The company has a debt-to-equity ratio of 0.20, a current ratio of 3.48 and a quick ratio of 3.48. The stock has a 50-day moving average price of $30.88 and a 200 day moving average price of $38.07.

Qfin (NASDAQ:QFIN) last announced its quarterly earnings data on Thursday, August 14th. The company reported $1.78 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.01). The business had revenue of $728.00 million during the quarter, compared to analysts’ expectations of $4.68 billion. Qfin had a net margin of 38.66% and a return on equity of 30.74%. Research analysts forecast that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 8th were given a $0.76 dividend. This is an increase from Qfin’s previous semi-annual dividend of $0.70. This represents a dividend yield of 541.0%. The ex-dividend date of this dividend was Monday, September 8th. Qfin’s dividend payout ratio (DPR) is presently 21.19%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SVB Wealth LLC acquired a new position in Qfin in the first quarter valued at $28,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Qfin in the first quarter valued at $29,000. Hantz Financial Services Inc. boosted its holdings in Qfin by 472.9% in the second quarter. Hantz Financial Services Inc. now owns 739 shares of the company’s stock valued at $32,000 after acquiring an additional 610 shares during the last quarter. Hoey Investments Inc. acquired a new position in Qfin in the second quarter valued at $33,000. Finally, iA Global Asset Management Inc. boosted its holdings in Qfin by 250.2% in the second quarter. iA Global Asset Management Inc. now owns 823 shares of the company’s stock valued at $36,000 after acquiring an additional 588 shares during the last quarter. Institutional investors and hedge funds own 74.81% of the company’s stock.

Qfin Company Profile

Qifu Technology, Inc, through its subsidiaries, operates credit-tech platform under the 360 Jietiao brand in the People's Republic of China. It provides credit-driven services that matches borrowers with financial institutions to conduct customer acquisition, initial and credit screening, advanced risk assessment, credit assessment, fund matching, and other post-facilitation services; and platform services, including loan facilitation and post-facilitation services to financial institution partners under intelligence credit engine, referral services, and risk management software-as-a-service.