Noah Holdings Ltd. (NOAH) to Issue Annual Dividend of $1.38 on August 6th

Noah Holdings Ltd. (NYSE:NOAH) announced an annual dividend on Tuesday, June 16th. Stockholders of record on Thursday, July 9th will be given a dividend of 1.3806 per share by the asset manager on Thursday, August 6th. This represents a dividend yield of 1,316.0%. The ex-dividend date is Thursday, July 9th. This is a 19.3% increase from Noah’s previous annual dividend of $1.16.

Noah has a payout ratio of 41.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Noah to earn $1.47 per share next year, which means the company should continue to be able to cover its $0.55 annual dividend with an expected future payout ratio of 37.4%.

Noah Stock Performance

NOAH opened at $10.36 on Thursday. Noah has a 52-week low of $9.53 and a 52-week high of $12.84. The company has a market cap of $698.78 million, a PE ratio of 9.59 and a beta of 0.80. The stock has a 50-day moving average of $10.33 and a 200-day moving average of $10.78.

Wall Street Analysts Forecast Growth

NOAH has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Noah from $12.00 to $11.50 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Wall Street Zen cut Noah from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Zacks Research raised Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Weiss Ratings raised Noah from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 29th. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Noah presently has a consensus rating of “Hold” and an average price target of $10.75.

Noah Company Profile

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.