Deutsche Bank AG Buys New Shares in FirstCash Holdings, Inc. $FCFS

Key Points

• Deutsche Bank acquired 44,671 shares of FirstCash Holdings during the second quarter, valued at approximately $9.7 million. Institutional investors collectively own 80.3% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $249, despite some recent downgrades. Four analysts rate the stock Buy, while one rates it Hold.
• FirstCash exceeded quarterly expectations, reporting $2.50 in 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, equivalent to a 0.7% yield.

Deutsche Bank AG acquired a new position in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 44,671 shares of the company's stock, valued at approximately $9,663,000. Deutsche Bank AG owned 0.10% of FirstCash at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FCFS. Harbor Investment Advisory LLC purchased a new position in shares of FirstCash in the 1st quarter worth about $26,000. Geneos Wealth Management Inc. acquired a new position in shares of FirstCash during the first quarter worth $29,000. CIBC Private Wealth Group LLC boosted its position in FirstCash by 490.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 195 shares of the company's stock valued at $31,000 after buying an additional 162 shares during the last quarter. High Point Wealth Management LLC purchased a new position in FirstCash in the fourth quarter valued at about $33,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of FirstCash during the 2nd quarter valued at approximately $34,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at FirstCash

In other FirstCash news, CFO R Douglas Orr sold 2,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $216.00, for a total value of $432,000.00. Following the completion of the sale, the chief financial officer owned 34,734 shares in the company, valued at $7,502,544. This represents a 5.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Thomas Brent Stuart sold 5,348 shares of FirstCash stock in a transaction on Monday, August 17th. The shares were sold at an average price of $214.63, for a total transaction of $1,147,841.24. Following the sale, the chief operating officer directly owned 135,498 shares of the company's stock, valued at $29,081,935.74. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,348 shares of company stock worth $4,492,755 in the last 90 days. 2.86% of the stock is owned by corporate insiders.

FirstCash Stock Performance

NASDAQ:FCFS opened at $225.28 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 4.89 and a quick ratio of 3.51. FirstCash Holdings, Inc. has a fifty-two week low of $138.34 and a fifty-two week high of $235.97. The stock's 50-day moving average is $214.07 and its two-hundred day moving average is $207.16. The stock has a market cap of $9.77 billion, a PE ratio of 25.72 and a beta of 0.53.

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

FirstCash Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Friday, August 14th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 14th. FirstCash's dividend payout ratio is currently 19.18%.

FirstCash Profile

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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