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Share Buyback Program Authorized by FinVolution Group (NYSE:FINV) Board of Directors

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FinVolution Group (NYSE:FINV - Get Free Report) announced that its Board of Directors has initiated a share repurchase plan on Monday, March 17th, RTT News reports. The company plans to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 6.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board believes its shares are undervalued.

FinVolution Group Stock Performance

FINV stock traded up $0.04 during trading on Friday, reaching $10.03. 1,593,306 shares of the company traded hands, compared to its average volume of 719,930. The business has a 50 day simple moving average of $8.09 and a 200 day simple moving average of $6.88. FinVolution Group has a 12 month low of $4.63 and a 12 month high of $11.08. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 8.64 and a beta of 0.47.

FinVolution Group (NYSE:FINV - Get Free Report) last issued its quarterly earnings data on Monday, March 17th. The company reported $0.38 earnings per share (EPS) for the quarter. FinVolution Group had a net margin of 17.36% and a return on equity of 16.66%. The firm had revenue of $473.57 million for the quarter.

FinVolution Group Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.277 per share. The ex-dividend date of this dividend is Wednesday, April 16th. This is an increase from FinVolution Group's previous annual dividend of $0.24. This represents a dividend yield of 2%. FinVolution Group's dividend payout ratio is presently 16.80%.

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Analysts Set New Price Targets

Several research firms have commented on FINV. UBS Group restated a "neutral" rating and set a $11.80 price objective (up from $7.80) on shares of FinVolution Group in a report on Thursday. Citigroup upgraded FinVolution Group from a "neutral" rating to a "buy" rating and upped their target price for the stock from $6.00 to $11.00 in a report on Tuesday.

View Our Latest Stock Report on FinVolution Group

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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