X Financial (NYSE:XYF) Sees Large Volume Increase – Here’s Why

X Financial (NYSE:XYF) saw unusually-high trading volume on Tuesday . Approximately 224,859 shares changed hands during mid-day trading, an increase of 106% from the previous session’s volume of 109,240 shares.The stock last traded at $17.89 and had previously closed at $18.52.

X Financial Trading Down 4.0%

The company has a market capitalization of $742.64 million, a P/E ratio of 4.69 and a beta of 0.24. The stock’s fifty day moving average is $14.52 and its 200 day moving average is $11.13.

X Financial (NYSE:XYF) last released its quarterly earnings data on Monday, May 19th. The company reported $1.40 earnings per share (EPS) for the quarter. The firm had revenue of $267.00 million for the quarter. X Financial had a net margin of 25.03% and a return on equity of 20.66%.

X Financial Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, July 2nd. Investors 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 of this dividend is Friday, June 20th. This is an increase from X Financial’s previous semi-annual dividend of $0.17. X Financial’s payout ratio is currently 3.33%.

Institutional Investors Weigh In On X Financial

An institutional investor recently raised its position in X Financial stock. Acadian Asset Management LLC lifted its holdings in shares of X Financial (NYSE:XYF) by 29.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 107,272 shares of the company’s stock after acquiring an additional 24,395 shares during the quarter. Acadian Asset Management LLC owned approximately 0.22% of X Financial worth $1,534,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 1.15% of the company’s stock.

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.