Noah Holdings Ltd. (NYSE:NOAH) Increases Dividend to $1.38 Per Share

Noah Holdings Ltd. (NYSE:NOAH) announced an annual dividend on Tuesday, June 16th. Investors of record on Thursday, July 9th will be given a dividend of 1.3806 per share by the asset manager on Thursday, August 6th. This represents a yield of 1,316.0%. The ex-dividend date is Thursday, July 9th. This is a 19.3% increase from Noah’s previous annual dividend of $1.16.

Noah has a dividend payout ratio of 41.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Noah to earn $1.47 per share next year, which means the company should continue to be able to cover its $0.55 annual dividend with an expected future payout ratio of 37.4%.

Noah Price Performance

NYSE NOAH traded down $0.06 on Wednesday, reaching $10.44. The stock had a trading volume of 15,746 shares, compared to its average volume of 114,889. The company has a market cap of $704.15 million, a P/E ratio of 9.67 and a beta of 0.80. The firm has a fifty day moving average of $10.32 and a two-hundred day moving average of $10.78. Noah has a 1-year low of $9.53 and a 1-year high of $12.84.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Zacks Research upgraded shares of Noah from a “strong sell” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings raised shares of Noah from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Finally, JPMorgan Chase & Co. cut their price target on Noah from $12.00 to $11.50 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $10.75.

Noah Company Profile

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.