CNFinance (NYSE: CNF – Get a rating) has been updated by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report released Friday, Zacks.com reports.
According to Zacks, “CNFinance Holdings Limited provides home equity lending services primarily in China. It facilitates lending by connecting micro and small business owners with its financing partners. and Tier 2 cities. CNFinance Holdings Limited is based in China.
Shares of NYSE:CNF rose $0.02 during Friday trading, hitting $2.50. The company’s shares had a trading volume of 16,092 shares, compared to an average volume of 59,802. The company has a debt ratio of 2.12, a quick ratio of 446.85 and a current ratio of 477, 14. CNFinance has a fifty-two week low of $2.11 and a fifty-two week high of $6.34. The stock’s 50-day moving average price is $2.96 and its two-hundred-day moving average price is $3.62. The company has a market capitalization of $171.46 million, a PE ratio of 19.23 and a beta of 0.31.
CNFinance (NYSE: CNF – Get a rating) last reported quarterly earnings data on Friday, March 18. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.09). The company posted revenue of $31.82 million in the quarter, versus a consensus estimate of $39.49 million. CNFinance posted a net margin of 4.37% and a return on equity of 1.61%. On average, stock analysts predict CNFinance will post 0.28 earnings per share for the current fiscal year.
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A number of institutional investors have recently changed their positions in the stock. JBF Capital inc. increased its stake in CNFinance to 92.0% in the first quarter. JBF Capital Inc. now owns 41,620 shares of the company valued at $134,000 after purchasing an additional 19,942 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in CNFinance by 54.5% in the first quarter. Dimensional Fund Advisors LP now owns 61,256 shares of the company valued at $197,000 after purchasing an additional 21,598 shares in the last quarter. Gagnon Securities LLC increased its stake in CNFinance by 3.7% in the first quarter. Gagnon Securities LLC now owns 1,584,321 shares of the company valued at $5,102,000 after purchasing an additional 56,827 shares in the last quarter. Gagnon Advisors LLC increased its holding in CNFinance shares by 17.4% during the first quarter. Gagnon Advisors LLC now owns 784,002 shares of the company valued at $2,524,000 after purchasing an additional 116,177 shares in the last quarter. Finally, Cyrus J. Lawrence LLC bought a new position in CNFinance stock during the first quarter valued at around $43,000. 3.90% of the shares are held by hedge funds and other institutional investors.
About CNFinance (Get a rating)
CNFinance Holdings Limited, through its subsidiaries, provides home equity lending services in the People’s Republic of China. It offers microcredit services to micro and small business owners; and loan agency services for financial institutions. The company also offers bridge loan products, which are unsecured short-term loans to repay borrowers’ existing loans secured by real estate.
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