FinVolution Group (NYSE:FINV) Posts Earnings Results

FinVolution Group (NYSE:FINVGet Free Report) posted its quarterly earnings data on Monday. The company reported $0.38 earnings per share for the quarter, Zacks reports. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%. The firm had revenue of $473.57 million for the quarter.

FinVolution Group Stock Up 17.6 %

Shares of FinVolution Group stock opened at $10.72 on Wednesday. The stock’s fifty day moving average is $7.95 and its two-hundred day moving average is $6.84. The company has a market capitalization of $2.84 billion, a PE ratio of 9.24 and a beta of 0.47. FinVolution Group has a 52 week low of $4.45 and a 52 week high of $11.25.

FinVolution Group Increases Dividend

The business also recently announced an annual dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 16th will be given a dividend of $0.277 per share. The ex-dividend date is Wednesday, April 16th. This represents a dividend yield of 2%. This is an increase from FinVolution Group’s previous annual dividend of $0.24. FinVolution Group’s payout ratio is currently 18.10%.

Analysts Set New Price Targets

Separately, Citigroup raised FinVolution Group from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $6.00 to $11.00 in a report on Tuesday.

Check Out Our Latest Analysis on FINV

FinVolution Group declared that its Board of Directors has approved a stock buyback plan on Monday, March 17th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 6.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

FinVolution Group Company Profile

(Get Free Report)

FinVolution Group operates in the online consumer finance industry. The company operates a fintech platform that is empowered by borrowers with financial institutions. It operates in China and internationally. The company was formerly known as PPDAI Group Inc and changed its name to FinVolution Group in November 2019.

See Also

Earnings History for FinVolution Group (NYSE:FINV)

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