322,574 Shares in FirstCash Holdings, Inc. $FCFS Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon purchased 322,574 FirstCash shares worth approximately $69.8 million, acquiring a 0.74% stake. Institutional investors collectively own 80.30% of the company.
• Analysts maintain a generally positive view of FCFS, with four Buy ratings and one Hold rating, producing a consensus rating of “Moderate Buy” and an average price target of $249.
• FirstCash exceeded quarterly expectations, reporting $2.50 EPS and $1.07 billion in revenue, with revenue up 29.4% year over year. The company also declared a quarterly dividend of $0.42 per share.

Bank of New York Mellon Corp bought a new stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 322,574 shares of the company's stock, valued at approximately $69,779,000. Bank of New York Mellon Corp owned 0.74% of FirstCash as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in FCFS. Villanova Investment Management Co LLC raised its stake in FirstCash by 0.4% during the 4th quarter. Villanova Investment Management Co LLC now owns 12,783 shares of the company's stock valued at $2,037,000 after purchasing an additional 54 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of FirstCash by 29.6% during the 1st quarter. Root Financial Partners LLC now owns 245 shares of the company's stock worth $46,000 after purchasing an additional 56 shares during the period. Arista Wealth Management LLC raised its position in shares of FirstCash by 1.4% during the second quarter. Arista Wealth Management LLC now owns 4,193 shares of the company's stock valued at $907,000 after buying an additional 56 shares during the last quarter. State of Michigan Retirement System raised its position in shares of FirstCash by 1.1% during the first quarter. State of Michigan Retirement System now owns 9,315 shares of the company's stock valued at $1,751,000 after buying an additional 100 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in shares of FirstCash by 113.2% in the first quarter. Assetmark Inc. now owns 194 shares of the company's stock valued at $36,000 after buying an additional 103 shares during the period. 80.30% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FCFS has been the topic of several research reports. Loop Capital upgraded FirstCash from a "hold" rating to a "buy" rating and set a $255.00 price target on the stock in a research note on Monday, August 10th. Weiss Ratings downgraded FirstCash from a "buy (b+)" rating to a "buy (b)" rating in a research report on Friday. Wall Street Zen lowered FirstCash from a "strong-buy" rating to a "buy" rating in a report on Sunday, May 10th. Zacks Research cut FirstCash from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Finally, TD Cowen upped their target price on FirstCash from $235.00 to $240.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $249.00.

Insider Activity at FirstCash

In related news, insider Howard F. Hambleton sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $212.98, for a total value of $425,960.00. Following the completion of the transaction, the insider owned 30,406 shares in the company, valued at $6,475,869.88. The trade was a 6.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Raul Ramos sold 6,835 shares of the company's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $225.23, for a total value of $1,539,447.05. Following the transaction, the senior vice president directly owned 20,400 shares in the company, valued at approximately $4,594,692. This represents a 25.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 20,348 shares of company stock valued at $4,492,755 over the last ninety days. Company insiders own 2.86% of the company's stock.

FirstCash Price Performance

Shares of FCFS stock opened at $229.51 on Wednesday. The stock's fifty day moving average is $214.52 and its 200-day moving average is $208.03. The company has a debt-to-equity ratio of 1.01, a quick ratio of 3.51 and a current ratio of 4.89. The stock has a market capitalization of $9.95 billion, a PE ratio of 26.20 and a beta of 0.53. FirstCash Holdings, Inc. has a 52 week low of $144.56 and a 52 week high of $238.93.

FirstCash (NASDAQ:FCFS - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The company reported $2.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.11. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.03 billion. FirstCash had a return on equity of 19.65% and a net margin of 9.42%.The firm's revenue for the quarter was up 29.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.34 earnings per share. Equities research analysts expect that FirstCash Holdings, Inc. will post 11.85 EPS for the current fiscal year.

FirstCash Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, August 14th. FirstCash's dividend payout ratio is presently 19.18%.

About FirstCash

FirstCash, Inc NASDAQ: FCFS is a leading integrated operator of pawn stores and provider of short-term consumer loan services in the United States and Mexico. Through its retail pawn outlets, FirstCash offers collateral-based loans secured by personal property, enabling customers to access liquidity without a credit history or traditional bank account. The company also purchases, trades and sells a broad range of secondhand merchandise, including electronics, jewelry and power tools, through its network of conveniently located stores.

In addition to its pawn-broking activities, FirstCash provides unsecured consumer loans designed to meet urgent cash needs.

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