Noah (NYSE:NOAH) Reaches New 1-Year Low – Here’s Why

Noah Holdings Ltd. (NYSE:NOAH)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $8.00 and last traded at $8.12, with a volume of 105522 shares. The stock had previously closed at $8.04.

Wall Street Analyst Weigh In

NOAH has been the topic of several research analyst reports. Wall Street Zen lowered Noah from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Zacks Research raised Noah from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings lowered shares of Noah from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Noah from $12.00 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.75.

Noah Price Performance

The company has a market cap of $555.18 million, a price-to-earnings ratio of 6.61 and a beta of 0.82. The firm’s 50 day simple moving average is $8.56 and its 200-day simple moving average is $9.81.

Noah (NYSE:NOAH) last posted its earnings results on Wednesday, August 26th. The asset manager reported $0.51 EPS for the quarter. Noah had a return on equity of 6.37% and a net margin of 22.57%.The business had revenue of $91.24 million for the quarter. On average, analysts forecast that Noah Holdings Ltd. will post 1.31 EPS for the current year.

Noah Increases Dividend

The company also recently declared an annual dividend, which was paid on Thursday, August 6th. Shareholders of record on Thursday, July 9th were given a dividend of $1.3806 per share. This represents a yield of 778.0%. This is a positive change from Noah’s previous annual dividend of $1.16. The ex-dividend date of this dividend was Thursday, July 9th. Noah’s dividend payout ratio is presently 51.22%.

Institutional Investors Weigh In On Noah

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. IMC Chicago LLC acquired a new position in shares of Noah in the 1st quarter valued at $100,000. Kestra Private Wealth Services LLC acquired a new stake in Noah during the 1st quarter worth $103,000. Ramsey Quantitative Systems acquired a new stake in Noah during the 2nd quarter worth $105,000. SG Americas Securities LLC acquired a new stake in Noah during the 1st quarter worth $116,000. Finally, Hsbc Holdings PLC grew its position in Noah by 33.8% during the 2nd quarter. Hsbc Holdings PLC now owns 26,776 shares of the asset manager’s stock worth $269,000 after purchasing an additional 6,770 shares during the last quarter. Hedge funds and other institutional investors own 42.67% of the company’s stock.

Noah Company Profile

Noah Holdings Limited (NYSE: NOAH) is a Chinese wealth management and asset management services company. The company provides financial products and advisory services primarily to high-net-worth individuals, families, and institutional clients.

Its wealth management business offers clients access to a range of investment products, including private equity, public securities, credit and other alternative investments. Through its asset management operations, Noah develops and manages investment products and strategies for individual and institutional investors.

Founded in 2005, Noah serves clients through operations in mainland China and other financial centers, including Hong Kong.