FinVolution Group (NYSE:FINV) Posts Earnings Results

FinVolution Group (NYSE:FINV) issued its quarterly earnings data on Monday. The company reported $0.38 earnings per share for the quarter, Zacks reports. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%. The firm had revenue of $473.57 million during the quarter.

FinVolution Group Stock Performance

Shares of FINV stock opened at $10.72 on Wednesday. The stock’s 50-day simple moving average is $7.95 and its 200-day simple moving average is $6.84. The firm has a market capitalization of $2.84 billion, a PE ratio of 9.24 and a beta of 0.47. FinVolution Group has a fifty-two week low of $4.45 and a fifty-two week high of $11.25.

FinVolution Group Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 16th will be issued a $0.277 dividend. The ex-dividend date is Wednesday, April 16th. This is a positive change from FinVolution Group’s previous annual dividend of $0.24. This represents a dividend yield of 2%. FinVolution Group’s dividend payout ratio is currently 18.10%.

FinVolution Group declared that its Board of Directors has authorized a share repurchase plan on Monday, March 17th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Separately, Citigroup raised FinVolution Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $6.00 to $11.00 in a research report on Tuesday.

FinVolution Group Company Profile

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.