FinVolution Group (NYSE:FINV) Announces Dividend Increase – $0.28 Per Share

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 paid a dividend of 0.277 per share on Wednesday, May 7th. This represents a dividend yield of 2%. The ex-dividend date of this dividend is Wednesday, April 16th. This is a 16.9% increase from FinVolution Group’s previous annual dividend of $0.24.

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

FinVolution Group Stock Performance

Shares of NYSE:FINV opened at $7.65 on Monday. The company has a market cap of $2.03 billion, a P/E ratio of 6.59 and a beta of 0.32. FinVolution Group has a 52-week low of $4.63 and a 52-week high of $11.08. The stock’s 50-day moving average is $8.73 and its 200-day moving average is $7.36.

FinVolution Group (NYSE:FINV) last issued its quarterly earnings results on Monday, March 17th. The company reported $0.38 earnings per share (EPS) for the quarter. 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 declared that its Board of Directors has initiated a share buyback plan on Monday, March 17th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

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

FinVolution Group Company Profile

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.