FirstCash Holdings, Inc. $FCFS Stake Reduced 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 FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,795 shares of the company's stock after selling 2,257 shares during the quarter. Deutsche Bank AG owned about 0.07% of FirstCash worth $3,946,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of FCFS. Raymond James Financial Inc. acquired a new stake in shares of FirstCash during the fourth quarter worth about $18,169,000. Barclays PLC grew its position in shares of FirstCash by 25.1% during the fourth quarter. Barclays PLC now owns 102,357 shares of the company's stock worth $10,605,000 after acquiring an additional 20,550 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of FirstCash during the fourth quarter worth approximately $339,000. Jump Financial LLC grew its position in shares of FirstCash by 229.8% during the fourth quarter. Jump Financial LLC now owns 6,982 shares of the company's stock worth $723,000 after acquiring an additional 4,865 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of FirstCash by 5,338.6% during the fourth quarter. Marshall Wace LLP now owns 137,597 shares of the company's stock worth $14,255,000 after acquiring an additional 135,067 shares during the last quarter. Institutional investors and hedge funds own 80.30% of the company's stock.

Wall Street Analysts Forecast Growth

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

FirstCash Stock Up 4.1%

FirstCash stock traded up $5.68 during midday trading on Friday, hitting $144.38. 509,774 shares of the company were exchanged, compared to its average volume of 378,572. The company's fifty day moving average price is $133.26 and its 200-day moving average price is $126.00. The company has a market cap of $6.41 billion, a PE ratio of 22.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.79, a current ratio of 4.21 and a quick ratio of 3.12. FirstCash Holdings, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $144.63.

FirstCash (NASDAQ:FCFS - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.66 by $0.13. FirstCash had a return on equity of 16.63% and a net margin of 8.61%.The firm had revenue of $830.62 million for the quarter, compared to analyst estimates of $820.42 million. During the same period in the previous year, the company posted $1.37 EPS. FirstCash's revenue for the quarter was up .0% on a year-over-year basis. On average, research analysts predict that FirstCash Holdings, Inc. will post 7.7 EPS for the current fiscal year.

FirstCash Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 15th. This is a positive change from FirstCash's previous quarterly dividend of $0.38. FirstCash's dividend payout ratio is currently 25.81%.

Insider Buying and Selling at FirstCash

In other FirstCash news, insider Howard F. Hambleton sold 3,900 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $130.93, for a total value of $510,627.00. Following the transaction, the insider directly owned 32,481 shares of the company's stock, valued at $4,252,737.33. This represents a 10.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Rick L. Wessel sold 69,024 shares of the company's 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 sale, the chief executive officer directly owned 932,958 shares in the company, valued at approximately $129,205,353.42. This represents a 6.89% 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 valued at $15,193,007 in the last three months. Corporate 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.