X Financial (NYSE:XYF) Rating Lowered to Buy at Wall Street Zen

Wall Street Zen lowered shares of X Financial (NYSE:XYF) from a strong-buy rating to a buy rating in a research report sent to investors on Friday morning.

X Financial Stock Performance

NYSE:XYF opened at $15.7510 on Friday. The company has a market capitalization of $658.08 million, a PE ratio of 2.95 and a beta of 0.25. The company has a 50 day simple moving average of $16.28 and a two-hundred day simple moving average of $14.32. X Financial has a fifty-two week low of $4.36 and a fifty-two week high of $20.35.

X Financial (NYSE:XYF) last released its earnings results on Monday, August 18th. The company reported $1.85 earnings per share for the quarter. The business had revenue of $317.32 million during the quarter. X Financial had a net margin of 23.30% and a return on equity of 25.42%.

X Financial Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Friday, September 26th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, September 26th. This represents a yield of 330.0%. This is a boost from X Financial’s previous semi-annual dividend of $0.25. X Financial’s payout ratio is currently 8.99%.

Institutional Trading of X Financial

Large investors have recently modified their holdings of the stock. Jump Financial LLC acquired a new stake in shares of X Financial during the 2nd quarter worth approximately $697,000. Hhlr Advisors LTD. acquired a new stake in shares of X Financial during the 1st quarter worth approximately $720,000. Finally, Acadian Asset Management LLC grew its position in shares of X Financial by 29.4% during the 1st quarter. Acadian Asset Management LLC now owns 107,272 shares of the company’s stock worth $1,534,000 after buying an additional 24,395 shares during the period. Institutional investors and hedge funds own 1.15% of the company’s stock.

About X Financial

X Financial provides personal finance services in the People’s Republic of China. The company offers services as an online marketplace connecting borrowers and investors or institutional funding partners. Its loan products include Xiaoying credit loan, which consists of Xiaoying card loan; and Xiaoying preferred loan to small business owners.