Bank of America Trims Lufax (NYSE:LU) Target Price to $2.75

Lufax (NYSE:LU) had its price target cut by Bank of America from $5.22 to $2.75 in a report released on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Lufax Price Performance

Shares of Lufax stock opened at $2.28 on Friday. The stock has a 50 day moving average price of $2.68 and a 200-day moving average price of $3.32. Lufax has a one year low of $2.00 and a one year high of $5.52. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of -16.29, a price-to-earnings-growth ratio of 0.36 and a beta of 0.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.70 and a current ratio of 1.70.

Lufax (NYSE:LU) last issued its earnings results on Wednesday, August 21st. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.26). The company had revenue of $822.36 million for the quarter. Lufax had a negative net margin of 2.17% and a negative return on equity of 0.72%. During the same period in the prior year, the company earned $0.24 earnings per share. Equities analysts expect that Lufax will post 0.21 EPS for the current year.

Institutional Investors Weigh In On Lufax

Several hedge funds have recently modified their holdings of the business. AI Squared Management Ltd acquired a new stake in Lufax in the 4th quarter worth approximately $1,026,000. Jump Financial LLC acquired a new stake in shares of Lufax during the fourth quarter worth $356,000. Virtu Financial LLC grew its holdings in shares of Lufax by 938.0% during the fourth quarter. Virtu Financial LLC now owns 189,121 shares of the company’s stock valued at $581,000 after buying an additional 170,902 shares during the last quarter. Nomura Holdings Inc. increased its position in shares of Lufax by 2,280.1% in the 4th quarter. Nomura Holdings Inc. now owns 883,009 shares of the company’s stock valued at $2,711,000 after acquiring an additional 845,909 shares during the period. Finally, DGS Capital Management LLC purchased a new position in Lufax in the 1st quarter worth $111,000. Hedge funds and other institutional investors own 69.14% of the company’s stock.

About Lufax

Lufax Holding Ltd operates as a financial service empowering institution for small and micro businesses in China. The company offers loan products, including general unsecured loans and secured loans, as well as consumer finance loans. It also provides wealth management products, such as asset management plans, mutual fund products, private investment fund products, and trust products.