Qifu Technology (NASDAQ:QFIN) Reaches New 52-Week High at $28.88

Qifu Technology, Inc. (NASDAQ:QFIN) shares hit a new 52-week high on Thursday . The company traded as high as $28.88 and last traded at $28.00, with a volume of 2432453 shares trading hands. The stock had previously closed at $26.69.

Qifu Technology Stock Performance

The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 7.25, a P/E/G ratio of 0.44 and a beta of 0.61. The business has a fifty day moving average price of $23.16 and a 200 day moving average price of $20.74.

Qifu Technology (NASDAQ:QFIN) last released its quarterly earnings data on Tuesday, August 13th. The company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.23. Qifu Technology had a return on equity of 21.82% and a net margin of 28.06%. The company had revenue of $572.44 million for the quarter, compared to the consensus estimate of $582.69 million. On average, analysts expect that Qifu Technology, Inc. will post 4.94 earnings per share for the current year.

Qifu Technology Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, September 27th will be given a $0.60 dividend. This is an increase from Qifu Technology’s previous semi-annual dividend of $0.57. The ex-dividend date is Friday, September 27th. This represents a yield of 4.7%. Qifu Technology’s dividend payout ratio (DPR) is 29.53%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of Qifu Technology in the 2nd quarter valued at approximately $31,000. Blue Trust Inc. grew its holdings in Qifu Technology by 598.4% during the 2nd quarter. Blue Trust Inc. now owns 1,732 shares of the company’s stock worth $32,000 after acquiring an additional 1,484 shares in the last quarter. Janiczek Wealth Management LLC increased its position in shares of Qifu Technology by 131.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company’s stock worth $44,000 after purchasing an additional 1,355 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Qifu Technology by 83.9% in the 4th quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock valued at $38,000 after purchasing an additional 1,107 shares in the last quarter. Finally, BOCHK Asset Management Ltd bought a new position in shares of Qifu Technology during the fourth quarter worth about $95,000. 74.81% of the stock is currently owned by hedge funds and other institutional investors.

About Qifu Technology

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.