CNFinance (NYSE:CNF) Lifted to Hold at Zacks Investment Research

CNFinance (NYSE:CNFGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

According to Zacks, “CNFinance Holdings Limited provides home equity loan services principally in China. It facilitates loans by connecting micro- and small-enterprise owners with its funding partners. The Company’s primary target borrower segment is MSE owners who own real properties in Tier 1 and Tier 2 cities. CNFinance Holdings Limited is based in China. “

CNFinance stock traded up $0.02 during mid-day trading on Friday, hitting $2.50. 16,092 shares of the company’s stock were exchanged, compared to its average volume of 59,802. The company has a current ratio of 477.14, a quick ratio of 446.85 and a debt-to-equity ratio of 2.12. The stock has a market cap of $171.46 million, a P/E ratio of 19.23 and a beta of 0.31. CNFinance has a 1-year low of $2.11 and a 1-year high of $6.34. The stock has a 50 day moving average of $2.96 and a two-hundred day moving average of $3.62.

CNFinance (NYSE:CNFGet Rating) last posted its earnings results on Friday, March 18th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.09). CNFinance had a return on equity of 1.61% and a net margin of 4.37%. The business had revenue of ($31.82) million for the quarter, compared to analyst estimates of $39.49 million. As a group, research analysts predict that CNFinance will post 0.28 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNF. Truist Financial Corp raised its stake in shares of CNFinance by 53.4% in the first quarter. Truist Financial Corp now owns 32,764 shares of the company’s stock valued at $106,000 after acquiring an additional 11,405 shares during the last quarter. Two Sigma Securities LLC bought a new position in CNFinance in the 3rd quarter worth approximately $75,000. Cyrus J. Lawrence LLC bought a new position in CNFinance in the 1st quarter worth approximately $43,000. Millennium Management LLC bought a new stake in shares of CNFinance during the 4th quarter valued at $78,000. Finally, JBF Capital Inc. raised its position in shares of CNFinance by 92.0% during the 1st quarter. JBF Capital Inc. now owns 41,620 shares of the company’s stock valued at $134,000 after acquiring an additional 19,942 shares during the last quarter. 3.90% of the stock is currently owned by institutional investors.

CNFinance Company Profile (Get Rating)

CNFinance Holdings Limited, through its subsidiaries, provides home equity loan services in the People's Republic of China. It offers micro credit loan services for micro and small-enterprise owners; and loan lending agency services for financial institutions. The company also provides bridge loan products, which are unsecured short-term loans to pay off borrowers' existing loans secured by real property.

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