FinVolution Group (FINV) To Go Ex-Dividend on April 16th

FinVolution Group (NYSE:FINV) declared an annual dividend on Monday, March 17th, Wall Street Journal reports. Stockholders of record on Wednesday, April 16th will be given a dividend of 0.277 per share on Wednesday, May 7th. This represents a dividend yield of 2%. The ex-dividend date is Wednesday, April 16th. This is a 16.9% increase from FinVolution Group’s previous annual dividend of $0.24.

FinVolution Group has increased its dividend by an average of 11.7% per year over the last three years. FinVolution Group has a payout ratio of 16.2% indicating that its dividend is sufficiently covered by earnings.

FinVolution Group Stock Down 5.0 %

FinVolution Group stock opened at $7.65 on Monday. The firm has a fifty day moving average of $8.73 and a 200-day moving average of $7.36. FinVolution Group has a 52-week low of $4.63 and a 52-week high of $11.08. The firm has a market capitalization of $2.03 billion, a P/E ratio of 6.59 and a beta of 0.32.

FinVolution Group (NYSE:FINV) last announced its quarterly earnings results on Monday, March 17th. The company reported $0.38 earnings per share (EPS) for the quarter. The firm had revenue of $473.57 million during the quarter. FinVolution Group had a return on equity of 16.66% and a net margin of 17.36%.

FinVolution Group declared that its board has approved a stock repurchase program on Monday, March 17th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

FINV has been the topic of a number of recent research reports. UBS Group reissued a “neutral” rating and set a $11.80 target price (up from $7.80) on shares of FinVolution Group in a research report on Thursday, March 20th. Citigroup raised shares of FinVolution Group from a “neutral” rating to a “buy” rating and upped their price objective for the company from $6.00 to $11.00 in a research report on Tuesday, March 18th.

About FinVolution Group

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.