Noah (NYSE:NOAH – Get Free Report) announced that its board has authorized a stock repurchase program on Wednesday, August 28th, RTT News reports. The company plans to repurchase $50.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.
Analyst Ratings Changes
A number of research analysts have recently issued reports on NOAH shares. StockNews.com cut Noah from a “buy” rating to a “hold” rating in a research note on Friday, May 31st. JPMorgan Chase & Co. lowered Noah from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $18.00 to $13.00 in a research report on Thursday, May 30th.
View Our Latest Stock Report on Noah
Noah Price Performance
Noah (NYSE:NOAH – Get Free Report) last released its quarterly earnings data on Wednesday, May 29th. The asset manager reported $0.32 earnings per share (EPS) for the quarter. Noah had a net margin of 31.26% and a return on equity of 9.08%. The firm had revenue of $89.96 million for the quarter. As a group, equities analysts predict that Noah will post 1.37 EPS for the current fiscal year.
Noah Announces Dividend
The business also recently declared an annual dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 3rd were given a dividend of $2.1249 per share. This represents a dividend yield of 10.4%. The ex-dividend date of this dividend was Wednesday, July 3rd. Noah’s dividend payout ratio is currently 57.54%.
About Noah
Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.
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