FinVolution Group (NYSE:FINV - Get Free Report) announced an annual dividend on Monday, March 17th, Wall Street Journal reports. Shareholders of record on Wednesday, April 16th will be paid a dividend of 0.277 per share on Wednesday, May 7th. This represents a yield of 2%. The ex-dividend date of this dividend is Wednesday, April 16th. This is a 16.9% increase from FinVolution Group's previous annual dividend of $0.24.
FinVolution Group has increased its dividend payment by an average of 11.7% per year over the last three years. FinVolution Group has a dividend payout ratio of 16.2% meaning its dividend is sufficiently covered by earnings.
FinVolution Group Trading Up 0.4 %
FINV stock traded up $0.04 on Friday, hitting $10.03. 1,593,306 shares of the company's stock traded hands, compared to its average volume of 720,496. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 8.64 and a beta of 0.47. FinVolution Group has a 1-year low of $4.63 and a 1-year high of $11.08. The stock has a fifty day moving average of $8.16 and a 200-day moving average of $6.92.
FinVolution Group (NYSE:FINV - Get Free Report) last issued its quarterly earnings results on Monday, March 17th. The company reported $0.38 earnings per share for the quarter. The firm had revenue of $473.57 million for the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%.
FinVolution Group announced that its Board of Directors has approved a stock buyback program on Monday, March 17th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to buy up to 6.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on FINV shares. UBS Group restated a "neutral" rating and set a $11.80 price objective (up from $7.80) on shares of FinVolution Group in a research report on Thursday. Citigroup raised shares of FinVolution Group from a "neutral" rating to a "buy" rating and upped their price target for the stock from $6.00 to $11.00 in a research note on Tuesday.
View Our Latest Stock Analysis on FINV
FinVolution Group Company Profile
(
Get Free Report)
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.
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