Norges Bank Purchases New Position in Qfin Holdings Inc. – Sponsored ADR $QFIN

Norges Bank acquired a new stake in Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,579,428 shares of the company’s stock, valued at approximately $30,436,000.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Qfin in the first quarter valued at $29,000. SBI Securities Co. Ltd. increased its stake in Qfin by 6,796.4% in the fourth 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 period. PNC Financial Services Group Inc. increased its stake in Qfin by 38.0% in the third quarter. PNC Financial Services Group Inc. now owns 4,342 shares of the company’s stock valued at $125,000 after purchasing an additional 1,195 shares during the period. Royal Bank of Canada increased its stake in Qfin by 51.7% in the first quarter. Royal Bank of Canada now owns 6,508 shares of the company’s stock valued at $293,000 after purchasing an additional 2,219 shares during the period. Finally, Signaturefd LLC increased its stake in Qfin by 59.2% in the fourth quarter. Signaturefd LLC now owns 6,982 shares of the company’s stock valued at $135,000 after purchasing an additional 2,597 shares during the period. 74.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on QFIN. Jefferies Financial Group dropped their price target on shares of Qfin from $30.30 to $23.40 and set a “buy” rating on the stock in a research note on Wednesday, March 18th. Bank of America reiterated a “neutral” rating and set a $15.33 price target on shares of Qfin in a research note on Wednesday, May 27th. Finally, Weiss Ratings upgraded shares of Qfin from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.91.

Insider Activity

In other news, Director Xiaohuan Chen acquired 190,000 shares of Qfin stock in a transaction that occurred on Friday, March 27th. The shares were acquired at an average price of $12.89 per share, with a total value of $2,449,100.00. Following the completion of the purchase, the director owned 190,000 shares of the company’s stock, valued at approximately $2,449,100. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 17.10% of the company’s stock.

Qfin Stock Down 0.2%

QFIN stock opened at $14.24 on Wednesday. Qfin Holdings Inc. – Sponsored ADR has a 52 week low of $11.31 and a 52 week high of $46.18. The company has a market cap of $1.73 billion, a P/E ratio of 2.61, a P/E/G ratio of 0.27 and a beta of 0.61. The company has a current ratio of 2.22, a quick ratio of 2.22 and a debt-to-equity ratio of 0.03. The company’s 50-day moving average price is $13.59 and its 200 day moving average price is $15.66.

Qfin (NASDAQ:QFIN) last released its quarterly earnings results on Friday, May 15th. The company reported $1.12 EPS for the quarter. The business had revenue of $567.01 million for the quarter. Qfin had a net margin of 27.48% and a return on equity of 20.85%. On average, research analysts expect that Qfin Holdings Inc. – Sponsored ADR will post 3.79 earnings per share for the current fiscal year.

Qfin Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, May 14th. Stockholders of record on Wednesday, April 22nd were given a $0.78 dividend. The ex-dividend date was Wednesday, April 22nd. This represents a dividend yield of 1,176.0%. Qfin’s dividend payout ratio is currently 28.21%.

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.