Stock Buyback Program Declared by FinVolution Group (NYSE:FINV) Board of Directors

FinVolution Group (NYSE:FINV) announced that its board has initiated a stock buyback program on Monday, March 17th, RTT News reports. The company plans to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

FinVolution Group Trading Up 5.2 %

NYSE:FINV opened at $9.17 on Tuesday. The stock has a 50 day moving average of $7.87 and a two-hundred day moving average of $6.80. FinVolution Group has a 12 month low of $4.45 and a 12 month high of $9.25. The firm has a market cap of $2.43 billion, a P/E ratio of 7.90 and a beta of 0.47.

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

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.