Qfin Holdings Inc. – Sponsored ADR $QFIN Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lessened its position in shares of Qfin Holdings Inc. – Sponsored ADR (NASDAQ:QFIN) by 63.3% during the 3rd quarter, Holdings Channel reports. The firm owned 504,965 shares of the company’s stock after selling 871,512 shares during the quarter. JPMorgan Chase & Co.’s holdings in Qfin were worth $14,533,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of QFIN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Qfin in the first quarter worth about $29,000. Rexford Capital Inc. purchased a new stake in Qfin in the second quarter valued at approximately $78,000. PNC Financial Services Group Inc. increased its holdings in Qfin by 32.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,147 shares of the company’s stock worth $136,000 after buying an additional 774 shares during the period. Farther Finance Advisors LLC increased its holdings in Qfin by 703.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,538 shares of the company’s stock worth $131,000 after buying an additional 3,973 shares during the period. Finally, Royal Bank of Canada raised its position in Qfin by 51.7% during the 1st quarter. Royal Bank of Canada now owns 6,508 shares of the company’s stock worth $293,000 after buying an additional 2,219 shares during the last quarter. 74.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on QFIN. Zacks Research cut shares of Qfin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 17th. Weiss Ratings reissued a “hold (c)” rating on shares of Qfin in a report on Monday, December 29th. Finally, Jefferies Financial Group decreased their target price on shares of Qfin from $30.30 to $23.40 and set a “buy” rating for the company in a research report on Wednesday, March 18th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.20.

Qfin Stock Down 2.0%

Qfin stock opened at $12.86 on Friday. The business’s 50-day moving average price is $15.05 and its 200 day moving average price is $20.36. The company has a quick ratio of 2.94, a current ratio of 2.43 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 2.09, a price-to-earnings-growth ratio of 0.22 and a beta of 0.49. Qfin Holdings Inc. – Sponsored ADR has a 52 week low of $12.67 and a 52 week high of $48.94.

Qfin (NASDAQ:QFIN) last announced its quarterly earnings results on Tuesday, March 17th. The company reported $1.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). Qfin had a net margin of 31.13% and a return on equity of 24.97%. The company had revenue of $585.10 million during the quarter, compared to analyst estimates of $664.95 million. As a group, sell-side analysts anticipate that Qfin Holdings Inc. – Sponsored ADR will post 5.71 earnings per share for the current year.

Qfin Dividend Announcement

The company also recently announced a dividend, which will be paid on Thursday, May 14th. Investors of record on Wednesday, April 22nd will be paid a $0.78 dividend. This represents a dividend yield of 1,143.0%. The ex-dividend date is Wednesday, April 22nd. Qfin’s payout ratio is currently 25.00%.

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.