Qifu Technology (NASDAQ:QFIN) Hits New 1-Year High at $20.62

Shares of Qifu Technology, Inc. (NASDAQ:QFIN) reached a new 52-week high on Thursday . The company traded as high as $20.62 and last traded at $20.50, with a volume of 98710 shares changing hands. The stock had previously closed at $19.90.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Citigroup increased their target price on Qifu Technology from $23.54 to $23.80 and gave the company a “buy” rating in a report on Thursday, March 14th. Nomura began coverage on Qifu Technology in a research note on Monday, December 18th. They issued a “buy” rating on the stock.

Qifu Technology Stock Down 7.3 %

The firm has a 50 day moving average price of $16.86 and a 200 day moving average price of $15.77. The stock has a market cap of $2.99 billion, a P/E ratio of 5.07, a P/E/G ratio of 0.46 and a beta of 0.62.

Qifu Technology (NASDAQ:QFIN) last issued its earnings results on Tuesday, March 12th. The company reported $0.96 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.96. The company had revenue of $633.18 million for the quarter, compared to the consensus estimate of $597.09 million. Qifu Technology had a return on equity of 20.44% and a net margin of 26.29%. Equities analysts predict that Qifu Technology, Inc. will post 4.31 earnings per share for the current fiscal year.

Qifu Technology Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Friday, May 24th. Investors of record on Monday, April 15th will be paid a dividend of $0.57 per share. This represents a yield of 5.7%. The ex-dividend date is Friday, April 12th. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.50. Qifu Technology’s dividend payout ratio (DPR) is 26.78%.

Institutional Trading of Qifu Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Banque Cantonale Vaudoise raised its stake in Qifu Technology by 94.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 206,000 shares of the company’s stock valued at $3,797,000 after purchasing an additional 100,000 shares during the period. Vanguard Group Inc. grew its holdings in Qifu Technology by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 4,621,357 shares of the company’s stock valued at $73,110,000 after buying an additional 37,838 shares in the last quarter. Wellington Management Group LLP purchased a new position in Qifu Technology during the 4th quarter valued at approximately $1,159,000. FIL Ltd grew its holdings in Qifu Technology by 0.6% during the 4th quarter. FIL Ltd now owns 1,714,951 shares of the company’s stock valued at $27,131,000 after buying an additional 10,530 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Qifu Technology during the 4th quarter valued at approximately $211,000. Institutional investors own 74.81% of the company’s stock.

Qifu Technology 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.