National Bank of Canada FI Increases Stock Position in Qifu Technology, Inc. (NASDAQ:QFIN)

National Bank of Canada FI lifted its holdings in shares of Qifu Technology, Inc. (NASDAQ:QFIN - Free Report) by 184.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 610,359 shares of the company's stock after purchasing an additional 395,449 shares during the period. National Bank of Canada FI owned about 0.39% of Qifu Technology worth $23,426,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in QFIN. Alliancebernstein L.P. purchased a new position in shares of Qifu Technology in the fourth quarter worth about $92,150,000. State Street Corp grew its position in 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 acquiring an additional 128,381 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Qifu Technology by 10.0% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,478,319 shares of the company's stock worth $56,738,000 after acquiring an additional 134,326 shares during the last quarter. Geode Capital Management LLC lifted its position in Qifu Technology by 3.2% in the third quarter. Geode Capital Management LLC now owns 1,309,635 shares of the company's stock valued at $38,866,000 after purchasing an additional 41,139 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Qifu Technology during the fourth quarter valued at approximately $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 lifted their target price on shares of Qifu Technology from $50.66 to $52.70 and gave the stock a "buy" rating in a research note on Wednesday, March 26th.

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Qifu Technology Stock Up 2.6 %

Shares of Qifu Technology stock traded up $0.93 during trading on Wednesday, reaching $36.79. 3,809,154 shares of the stock were exchanged, compared to its average volume of 1,478,387. Qifu Technology, Inc. has a 1 year low of $17.76 and a 1 year high of $48.94. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 0.32 and a beta of 0.53. The stock's fifty day moving average is $42.21 and its 200 day moving average is $37.70.

Qifu Technology (NASDAQ:QFIN - Get Free Report) last issued its quarterly earnings data on Sunday, March 16th. The company reported $1.82 earnings per share for the quarter, topping analysts' consensus estimates of $1.68 by $0.14. The firm had revenue of $613.89 million for the quarter, compared to analyst estimates of $581.67 million. Qifu Technology had a return on equity of 24.39% and a net margin of 31.82%. Equities analysts forecast that Qifu Technology, Inc. will post 5.71 earnings per share for the current year.

Qifu Technology Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Monday, June 2nd. Shareholders of record on Wednesday, April 23rd will be given a dividend of $0.70 per share. This is an increase 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.