Qifu Technology, Inc. (NASDAQ:QFIN) Shares Bought by National Bank of Canada FI

National Bank of Canada FI grew its stake in shares of Qifu Technology, Inc. (NASDAQ:QFIN) by 184.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 610,359 shares of the company’s stock after acquiring an additional 395,449 shares during the period. National Bank of Canada FI’s holdings in Qifu Technology were worth $23,426,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Alliancebernstein L.P. purchased a new position in Qifu Technology in the 4th quarter valued at approximately $92,150,000. State Street Corp raised its stake in shares of Qifu Technology by 5.8% during the 3rd quarter. State Street Corp now owns 2,324,831 shares of the company’s stock worth $70,637,000 after buying an additional 128,381 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Qifu Technology by 10.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company’s stock worth $56,738,000 after buying an additional 134,326 shares in the last quarter. Geode Capital Management LLC grew its stake in Qifu Technology by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company’s stock valued at $38,866,000 after acquiring an additional 41,139 shares during the last quarter. Finally, Norges Bank purchased a new position in Qifu Technology during the 4th quarter valued at about $46,579,000. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Analysts Set New Price Targets

Separately, Bank of America upped their price target on shares of Qifu Technology from $50.66 to $52.70 and gave the company a “buy” rating in a report on Wednesday, March 26th.

Qifu Technology Stock Down 5.2 %

Shares of NASDAQ:QFIN opened at $43.48 on Friday. The company has a market capitalization of $6.85 billion, a P/E ratio of 8.80, a P/E/G ratio of 0.32 and a beta of 0.53. Qifu Technology, Inc. has a 52-week low of $17.76 and a 52-week high of $48.94. The stock’s fifty day simple moving average is $42.73 and its 200-day simple moving average is $37.24.

Qifu Technology (NASDAQ:QFIN) last released its earnings results on Sunday, March 16th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.68 by $0.14. The company had revenue of $613.89 million for the quarter, compared to analyst estimates of $581.67 million. Qifu Technology had a net margin of 31.82% and a return on equity of 24.39%. On average, sell-side analysts anticipate that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be paid a $0.70 dividend. This is a boost from Qifu Technology’s previous semi-annual dividend of $0.60. This represents a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, April 23rd. Qifu Technology’s payout ratio is presently 23.79%.

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.