X Financial (NYSE:XYF) Stock Price Down 13% – Here’s Why

X Financial (NYSE:XYF)’s share price dropped 13% on Friday . The company traded as low as $13.04 and last traded at $13.39. Approximately 87,573 shares changed hands during trading, an increase of 51% from the average daily volume of 58,052 shares. The stock had previously closed at $15.40.

X Financial Price Performance

The firm has a market capitalization of $621.85 million, a price-to-earnings ratio of 3.35 and a beta of -0.10. The firm has a 50 day moving average price of $10.92 and a 200-day moving average price of $8.41.

X Financial (NYSE:XYF) last posted its quarterly earnings results on Wednesday, March 19th. The company reported $1.13 earnings per share (EPS) for the quarter. X Financial had a return on equity of 20.66% and a net margin of 25.03%. The company had revenue of $234.09 million for the quarter.

X Financial Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Friday, June 20th will be issued a dividend of $0.25 per share. This represents a yield of 2.6%. The ex-dividend date is Friday, June 20th. This is a boost from X Financial’s previous semi-annual dividend of $0.17. X Financial’s payout ratio is 7.36%.

About X Financial

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.