Noah (NYSE:NOAH) releases quarterly earnings results

VaselineAugust 30, 2024

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Noah (NYSE:NOAH – Get Free Report ) released its quarterly earnings results on Wednesday. The asset manager reported $0.21 EPS for the quarter, it reports. The firm had revenue of $84.74 million during the quarter. Noah had a return on equity of 9.08% and a net margin of 31.26%.

Noah Stock 14.6%

Shares of Noah stock opened at $8.40 on Friday. The company’s fifty-day simple moving average is $8.20, and its 200-day simple moving average is $10.70. The firm has a market cap of $555.55 million, a PE ratio of 4.69 and a beta of 0.76. Noah has a 52 week low of $7.14 and a 52 week high of $15.44.

Noah announces dividends

The firm also recently announced an annual dividend, which was paid on Thursday, August 1st. Stockholders of record on Wednesday, July 3rd were given a dividend of $2.1249 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a yield of 10.4%. Noah’s dividend payout ratio (DPR) is 57.54%.

Noah’s Institutional Trading

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Several institutional investors and hedge funds have recently bought and sold shares of NOAH. Headlands Technologies LLC purchased a new stake in shares of Noah in the 1st quarter valued at about $30,000. Public Employees Retirement Association of Colorado acquired a new position in Noah during the first quarter valued at $40,000. JBF Capital Inc. purchased a new position in Noah in the second quarter valued at $106,000. Quadrant Capital Group LLC boosted its position in shares of Noah by 92.2% in the fourth quarter. Quadrant Capital Group LLC now owns 12,756 shares of the asset manager’s stock worth $176,000 after buying an additional 6,120 shares during the period. Finally, Quadrature Capital Ltd boosted its holdings in shares of Noah by 91.1% in the 4th quarter. Quadrature Capital Ltd now owns 19,779 shares of the asset manager’s stock valued at $273,000 after buying an additional 9,429 shares during the period. 42.67% of the shares are currently held by hedge funds and other institutional investors.

Noah announced that its board has approved a stock buyback plan on Wednesday, August 28th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 10.3% of its shares through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Changes in Analyst Ratings

NOAH has been the subject of several recent research reports. StockNews.com cut Noah from a “buy” rating to a “hold” rating in a report on Friday, May 31st. JPMorgan Chase & Co. downgraded Noah from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $13.00 in a research note on Thursday, May 30th.

Read the latest stock analysis on NOAH

About Noah

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Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with a focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland China, Hong Kong and across international. It operates through three segments: Wealth Management, Asset Management and Other Services.