Noah (NYSE:NOAH) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Noah (NYSE:NOAHFree Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.

NOAH has been the subject of several other research reports. JPMorgan Chase & Co. cut their price objective on Noah from $12.00 to $11.50 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Weiss Ratings lowered Noah from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 10th. Finally, Zacks Research raised Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.75.

Get Our Latest Analysis on NOAH

Noah Price Performance

Noah stock opened at $8.88 on Friday. The firm has a market cap of $598.82 million, a price-to-earnings ratio of 8.22 and a beta of 0.80. Noah has a fifty-two week low of $8.63 and a fifty-two week high of $12.84. The firm has a fifty day moving average price of $10.08 and a two-hundred day moving average price of $10.72.

Noah Increases Dividend

The business also recently announced an annual dividend, which will be paid on Thursday, August 6th. Investors of record on Thursday, July 9th will be paid a $1.3806 dividend. The ex-dividend date is Thursday, July 9th. This is a boost from Noah’s previous annual dividend of $1.16. This represents a dividend yield of 778.0%. Noah’s dividend payout ratio is 62.04%.

Hedge Funds Weigh In On Noah

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOAH. Federation des caisses Desjardins du Quebec bought a new stake in shares of Noah in the 4th quarter worth approximately $41,000. Quadrant Capital Group LLC acquired a new stake in shares of Noah during the 3rd quarter worth approximately $85,000. IMC Chicago LLC bought a new stake in shares of Noah during the first quarter valued at approximately $100,000. Centiva Capital LP bought a new stake in shares of Noah during the third quarter valued at approximately $118,000. Finally, Kestra Private Wealth Services LLC acquired a new position in shares of Noah in the first quarter valued at $103,000. 42.67% of the stock is currently owned by institutional investors.

Noah Company Profile

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Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.

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