FirstCash Holdings, Inc. $FCFS Holdings Decreased by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its stake in FirstCash Holdings, Inc. by 6.4%, selling 2,257 shares and now owning approximately 0.07% of the company valued at $3.95 million.
• Insider transactions included Director James H. Graves selling 6,000 shares for $807,360, and insider Howard F. Hambleton selling 3,900 shares for $510,627, marking a decrease in their stock ownership.
• FirstCash announced an increased quarterly dividend of $0.42 per share, up from $0.38, representing an annualized yield of 1.2%.

Deutsche Bank AG lowered its stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 6.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,795 shares of the company's stock after selling 2,257 shares during the quarter. Deutsche Bank AG owned approximately 0.07% of FirstCash worth $3,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in FirstCash by 26,021.8% in the first quarter. GAMMA Investing LLC now owns 259,651 shares of the company's stock worth $31,241,000 after purchasing an additional 258,657 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in FirstCash by 349.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 294,281 shares of the company's stock worth $30,488,000 after purchasing an additional 228,784 shares during the period. Tidal Investments LLC acquired a new position in FirstCash in the fourth quarter worth $21,701,000. Raymond James Financial Inc. acquired a new position in FirstCash in the fourth quarter worth $18,169,000. Finally, Millennium Management LLC boosted its holdings in FirstCash by 332.5% in the fourth quarter. Millennium Management LLC now owns 194,389 shares of the company's stock worth $20,139,000 after purchasing an additional 149,439 shares during the period. Institutional investors and hedge funds own 80.30% of the company's stock.

Insider Activity at FirstCash

In related news, insider Howard F. Hambleton sold 3,900 shares of FirstCash stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $130.93, for a total transaction of $510,627.00. Following the sale, the insider directly owned 32,481 shares in the company, valued at $4,252,737.33. The trade was a 10.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rick L. Wessel sold 30,976 shares of FirstCash stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $139.33, for a total transaction of $4,315,886.08. Following the sale, the chief executive officer owned 901,982 shares in the company, valued at approximately $125,673,152.06. This represents a 3.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,900 shares of company stock worth $15,193,007 over the last ninety days. 2.93% of the stock is currently owned by corporate insiders.

FirstCash Stock Performance

FCFS stock traded up $5.68 during mid-day trading on Friday, reaching $144.38. The company had a trading volume of 509,774 shares, compared to its average volume of 378,572. The company has a quick ratio of 3.12, a current ratio of 4.21 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $6.41 billion, a P/E ratio of 22.18 and a beta of 0.68. FirstCash Holdings, Inc. has a one year low of $100.24 and a one year high of $144.63. The stock's 50-day simple moving average is $133.26 and its two-hundred day simple moving average is $126.08.

FirstCash (NASDAQ:FCFS - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.13. The company had revenue of $830.62 million for the quarter, compared to analysts' expectations of $820.42 million. FirstCash had a return on equity of 16.63% and a net margin of 8.61%.The firm's quarterly revenue was up .0% compared to the same quarter last year. During the same period last year, the business posted $1.37 earnings per share. Research analysts anticipate that FirstCash Holdings, Inc. will post 7.7 EPS for the current year.

FirstCash Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.42 per share. This is an increase from FirstCash's previous quarterly dividend of $0.38. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 15th. FirstCash's dividend payout ratio (DPR) is presently 25.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Capital One Financial set a $160.00 price objective on shares of FirstCash in a report on Tuesday, August 5th. Jefferies Financial Group raised shares of FirstCash to a "strong-buy" rating in a report on Monday, August 18th. Cowen reaffirmed a "buy" rating on shares of FirstCash in a report on Monday, August 18th. Finally, Wall Street Zen downgraded shares of FirstCash from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $142.33.

About FirstCash

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.