Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) Receives Consensus Rating of “Reduce” from Brokerages

Shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) have earned an average recommendation of “Reduce” from the eight research firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $12.2883.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut shares of Qfin from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $13.50 to $9.00 in a research note on Wednesday, August 26th. Jefferies Financial Group reiterated a “buy” rating and issued a $15.40 target price on shares of Qfin in a research report on Wednesday, August 26th. Weiss Ratings cut Qfin from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, July 13th. Citigroup downgraded Qfin from a “buy” rating to a “sell” rating and set a $8.00 price target on the stock. in a research report on Wednesday, August 26th. Finally, Bank of America reaffirmed a “neutral” rating on shares of Qfin in a research note on Thursday.

Qfin Stock Performance

Qfin stock opened at $8.47 on Friday. Qfin has a 1-year low of $8.35 and a 1-year high of $32.69. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $1.03 billion, a PE ratio of 2.04 and a beta of 0.57. The firm’s 50 day simple moving average is $12.06 and its 200 day simple moving average is $13.35.

Qfin (NASDAQ:QFIN) last posted its earnings results on Friday, August 14th. The company reported $0.55 EPS for the quarter. The business had revenue of $524.96 million during the quarter. Qfin had a return on equity of 15.23% and a net margin of 22.23%. As a group, analysts expect that Qfin will post 2.85 earnings per share for the current fiscal year.

Qfin Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, October 1st. Shareholders of record on Wednesday, September 9th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a yield of 1,070.0%. Qfin’s payout ratio is currently 21.63%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Qfin during the first quarter worth about $29,000. SBI Securities Co. Ltd. raised its position in Qfin by 6,796.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 1,931 shares of the company’s stock valued at $37,000 after purchasing an additional 1,903 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Qfin by 415.9% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,636 shares of the company’s stock valued at $51,000 after purchasing an additional 2,125 shares during the last quarter. Parallel Advisors LLC lifted its holdings in Qfin by 24.1% in the 4th quarter. Parallel Advisors LLC now owns 3,373 shares of the company’s stock worth $65,000 after buying an additional 656 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in Qfin by 23.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,358 shares of the company’s stock worth $103,000 after buying an additional 1,016 shares during the period. 74.81% of the stock is owned by hedge funds and other institutional investors.

Qfin Company Profile

360 DigiTech, Inc (NASDAQ: QFIN) is a China‐based fintech company that specializes in providing digital lending solutions to underserved consumer and small business markets. Leveraging proprietary credit assessment technologies and big data analytics, the company connects borrowers with a network of financial institutions and investors through its online platform. Its services encompass unsecured consumer loans, installment credit products, and working capital financing for micro and small enterprises.

The company’s flagship platform offers an end‐to‐end digital lending experience, from application and credit evaluation to disbursement and repayment.