360 Finance (QFIN) Declares $0.16 Dividend

360 Finance said on March 9, 2023 that its board of directors declared a regular quarterly dividend of $0.16 per share ($0.64 annualized). Previously, the company paid $0.16 per share.

Shares must be purchased before the ex-div date of April 10, 2023 to qualify for the dividend. Shareholders of record as of April 11, 2023 will receive the payment on May 19, 2023.

At the current share price of $17.47 / share, the stock's dividend yield is 3.66%. Looking back five years and taking a sample every week, the average dividend yield has been 6.41%, the lowest has been 2.08%, and the highest has been 13.52%. The standard deviation of yields is 2.43 (n=199).

The current dividend yield is 1.13 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.03. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.27%.

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Analyst Price Forecast Suggests 60.64% Upside

As of March 12, 2023, the average one-year price target for 360 Finance is $28.06. The forecasts range from a low of $19.96 to a high of $34.65. The average price target represents an increase of 60.64% from its latest reported closing price of $17.47.

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The projected annual revenue for 360 Finance is $18,633MM, an increase of 12.56%. The projected annual non-GAAP EPS is $34.70.

What is the Fund Sentiment?

There are 271 funds or institutions reporting positions in 360 Finance. This is an increase of 19 owner(s) or 7.54% in the last quarter. Average portfolio weight of all funds dedicated to QFIN is 0.60%, a decrease of 9.51%. Total shares owned by institutions increased in the last three months by 10.27% to 106,791K shares. The put/call ratio of QFIN is 0.23, indicating a bullish outlook.

What are Large Shareholders Doing?

FountainVest China Capital Partners GP3 holds 11,716K shares representing 7.28% ownership of the company. No change in the last quarter.

Aspex Management holds 10,957K shares representing 6.81% ownership of the company. No change in the last quarter.

Oceanlink Management holds 9,708K shares representing 6.03% ownership of the company. In it's prior filing, the firm reported owning 4,306K shares, representing an increase of 55.64%. The firm increased its portfolio allocation in QFIN by 204.43% over the last quarter.

TT International Asset Management holds 8,654K shares representing 5.38% ownership of the company. In it's prior filing, the firm reported owning 10,652K shares, representing a decrease of 23.09%. The firm increased its portfolio allocation in QFIN by 11.81% over the last quarter.

Krane Funds Advisors holds 4,510K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 3,195K shares, representing an increase of 29.14%. The firm increased its portfolio allocation in QFIN by 76.55% over the last quarter.

360 DigiTech Background Information
(This description is provided by the company.)

360 DigiTech, Inc. ("360 DigiTech" or the "Company") is a data driven, technology empowered digital platform. Through its platform the Company enables financial institutions to provide better and targeted products and services to a broader consumer base. The Company also offers standardized risk management service, in the form of SaaS modules to institutional clients. When coupled with its partnership with 360 Group, the Company's solutions created noticeable advantages in customer acquisition, funding optimization, risk assessment and post-lending management.

This story originally appeared on Fintel.