X Financial (NYSE:XYF) Shares Up 1.1% – What’s Next?

Shares of X Financial Sponsored ADR (NYSE:XYF) shot up 1.1% during trading on Tuesday. The company traded as high as $4.93 and last traded at $4.8750. Approximately 27,395 shares were traded during mid-day trading, The stock had previously closed at $4.82.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded X Financial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

X Financial Trading Up 1.1%

The firm has a fifty day simple moving average of $5.18 and a 200-day simple moving average of $5.01.

X Financial (NYSE:XYF) last announced its earnings results on Monday, August 24th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.36. The business had revenue of $146.24 million during the quarter, compared to analyst estimates of $145.96 million.

X Financial Cuts Dividend

The business also recently disclosed a dividend, which was paid on Monday, September 28th. Shareholders of record on Thursday, September 10th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 10th. This represents a yield of 1,076.0%. This is a decrease from X Financial’s previous dividend of $0.2802.

Institutional Investors Weigh In On X Financial

An institutional investor recently bought a new stake in X Financial stock. Ramsey Quantitative Systems bought a new stake in X Financial Sponsored ADR (NYSE:XYF) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 27,838 shares of the company’s stock, valued at approximately $135,000. Ramsey Quantitative Systems owned approximately 0.07% of X Financial as of its most recent filing with the SEC. Hedge funds and other institutional investors own 1.15% of the company’s stock.

About X Financial

X Financial (NYSE: XYF) is a China-based financial technology company that operates an online consumer finance platform. The company uses digital technologies and data-driven credit assessment to provide access to personal financing products and related financial services.

Its primary offerings have included Xiaoying Card, a revolving consumer credit product, and Xiaoying Loan, an installment lending product. X Financial has also operated online wealth-management and investment-related services under the Xiaoying brand, although its business has increasingly focused on consumer lending and loan facilitation.

Founded in 2014 and headquartered in Shenzhen, China, X Financial primarily serves borrowers in mainland China through online and mobile channels.