X Financial (NYSE:XYF) Trading 3.7% Higher After Dividend Announcement

X Financial Sponsored ADR (NYSE:XYF)’s stock price traded up 3.7% on Wednesday following a dividend announcement from the company. The company traded as high as $12.82 and last traded at $12.78. 1,043,648 shares traded hands during mid-day trading, an increase of 72% from the average session volume of 607,106 shares. The stock had previously closed at $12.32.

The newly announced dividend which will be paid on Wednesday, October 15th. Investors of record on Friday, September 26th will be issued a $0.28 dividend. This is a boost from X Financial’s previous semi-annual dividend of $0.25. This represents a yield of 330.0%. The ex-dividend date is Friday, September 26th. X Financial’s dividend payout ratio is currently 10.00%.

X Financial Price Performance

The stock’s fifty day moving average is $16.42 and its 200-day moving average is $14.22. The stock has a market capitalization of $533.99 million, a P/E ratio of 2.39 and a beta of 0.25.

X Financial (NYSE:XYF) last released its quarterly earnings results on Monday, August 18th. The company reported $1.85 earnings per share (EPS) for the quarter. X Financial had a net margin of 23.30% and a return on equity of 25.42%. The company had revenue of $317.32 million during the quarter.

Institutional Investors Weigh In On X Financial

Hedge funds have recently bought and sold shares of the company. Jump Financial LLC bought a new stake in X Financial during the second quarter valued at about $697,000. Acadian Asset Management LLC boosted its holdings in X Financial by 29.4% during the first quarter. Acadian Asset Management LLC now owns 107,272 shares of the company’s stock valued at $1,534,000 after acquiring an additional 24,395 shares during the period. Finally, Hhlr Advisors LTD. bought a new stake in X Financial during the first quarter valued at about $720,000. 1.15% of the stock is currently owned by institutional investors.

X Financial Company Profile

X Financial provides personal finance services in the People’s Republic of China. The company offers services as an online marketplace connecting borrowers and investors or institutional funding partners. Its loan products include Xiaoying credit loan, which consists of Xiaoying card loan; and Xiaoying preferred loan to small business owners.