Qifu Technology (NASDAQ:QFIN) Sets New 1-Year High – Time to Buy?

Shares of Qifu Technology, Inc. (NASDAQ:QFIN) reached a new 52-week high on Friday . The company traded as high as $34.92 and last traded at $34.08, with a volume of 418279 shares changing hands. The stock had previously closed at $32.03.

Qifu Technology Stock Up 2.9 %

The company has a market cap of $5.32 billion, a PE ratio of 8.15, a PEG ratio of 0.45 and a beta of 0.62. The company has a 50-day moving average of $27.05 and a 200-day moving average of $22.21.

Qifu Technology (NASDAQ:QFIN) last posted its earnings results on Tuesday, August 13th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.23. Qifu Technology had a net margin of 28.06% and a return on equity of 21.82%. The firm had revenue of $572.44 million during the quarter, compared to analyst estimates of $582.69 million. As a group, equities analysts predict that Qifu Technology, Inc. will post 5.08 EPS for the current year.

Qifu Technology Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Friday, November 1st. Investors of record on Friday, September 27th will be issued a dividend of $0.60 per share. This is a positive change from Qifu Technology’s previous semi-annual dividend of $0.57. This represents a yield of 4.7%. The ex-dividend date is Friday, September 27th. Qifu Technology’s dividend payout ratio (DPR) is 28.37%.

Institutional Investors Weigh In On Qifu Technology

Large investors have recently made changes to their positions in the business. Ashton Thomas Private Wealth LLC bought a new position in Qifu Technology during the second quarter valued at about $31,000. Blue Trust Inc. increased its stake in shares of 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 purchasing an additional 1,484 shares during the last quarter. USA Financial Formulas purchased a new position in Qifu Technology in the third quarter valued at approximately $41,000. Janiczek Wealth Management LLC grew its holdings in Qifu Technology by 131.4% during the first quarter. Janiczek Wealth Management LLC now owns 2,386 shares of the company’s stock valued at $44,000 after purchasing an additional 1,355 shares during the period. Finally, Signaturefd LLC increased its position in Qifu Technology by 67.3% in the second quarter. Signaturefd LLC now owns 7,283 shares of the company’s stock worth $144,000 after buying an additional 2,931 shares during the last quarter. 74.81% of the stock is 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.