Keybank National Association OH Makes New $203,000 Investment in FirstCash Holdings, Inc. $FCFS

Keybank National Association OH purchased a new stake in FirstCash Holdings, Inc. (NASDAQ:FCFS) in the 2nd quarter, Holdings Channel reports. The firm purchased 1,502 shares of the company’s stock, valued at approximately $203,000.

A number of other large investors have also made changes to their positions in FCFS. Principal Financial Group Inc. grew its stake in FirstCash by 1.2% in the first quarter. Principal Financial Group Inc. now owns 132,236 shares of the company’s stock valued at $15,911,000 after acquiring an additional 1,629 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of FirstCash during the 2nd quarter valued at about $336,000. Freedom Day Solutions LLC acquired a new position in shares of FirstCash in the 1st quarter valued at approximately $1,524,000. FORA Capital LLC acquired a new position in shares of FirstCash in the 1st quarter valued at approximately $283,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in FirstCash during the 1st quarter worth approximately $334,000. Institutional investors own 80.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FCFS shares. Canaccord Genuity Group lifted their price target on shares of FirstCash from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Jefferies Financial Group upgraded shares of FirstCash to a “strong-buy” rating in a report on Monday, August 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstCash in a research note on Wednesday, October 8th. Capital One Financial set a $160.00 target price on FirstCash in a report on Tuesday, August 5th. Finally, TD Cowen boosted their price target on FirstCash from $181.00 to $188.00 and gave the company a “buy” rating in a report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $167.00.

FirstCash Stock Performance

Shares of FCFS opened at $161.91 on Friday. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of 24.87 and a beta of 0.66. FirstCash Holdings, Inc. has a 12 month low of $100.24 and a 12 month high of $166.08. The firm has a fifty day simple moving average of $152.46 and a 200 day simple moving average of $139.19. The company has a current ratio of 4.21, a quick ratio of 3.12 and a debt-to-equity ratio of 0.79.

FirstCash (NASDAQ:FCFS) last issued its quarterly earnings results on Thursday, October 30th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.35. FirstCash had a net margin of 8.61% and a return on equity of 16.63%. The firm had revenue of $935.58 million for the quarter, compared to analyst estimates of $845.28 million. During the same period in the previous year, the business earned $1.67 EPS. The company’s revenue was up 11.7% compared to the same quarter last year. Research analysts forecast that FirstCash Holdings, Inc. will post 7.7 EPS for the current fiscal year.

FirstCash Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 14th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.68 annualized dividend and a yield of 1.0%. FirstCash’s dividend payout ratio is 24.24%.

FirstCash announced that its board has initiated a stock buyback program on Thursday, October 30th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 2.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity at FirstCash

In other news, CFO R Douglas Orr sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $159.64, for a total transaction of $638,560.00. Following the sale, the chief financial officer owned 93,567 shares in the company, valued at $14,937,035.88. This represents a 4.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rick L. Wessel sold 69,024 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $138.49, for a total value of $9,559,133.76. Following the completion of the sale, the chief executive officer directly owned 932,958 shares of the company’s stock, valued at approximately $129,205,353.42. The trade was a 6.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 113,000 shares of company stock valued at $15,883,363 over the last three months. Insiders own 2.93% of the company’s stock.

FirstCash Profile

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. The company operates in three segments: U.S. Pawn, Latin America Pawn, and Retail POS Payment Solutions segments. Its pawn stores lend money on the collateral of pledged personal property, including jewelry, electronics, tools, appliances, sporting goods, and musical instruments; and retails merchandise acquired through collateral forfeitures on forfeited pawn loans and over-the-counter purchases of merchandise directly from customers.