Synovus Financial Corp Cuts Holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS)

Synovus Financial Corp cut its holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 49.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 31,334 shares of the company's stock after selling 30,566 shares during the quarter. Synovus Financial Corp owned 0.07% of FirstCash worth $3,246,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FCFS. Rialto Wealth Management LLC bought a new position in FirstCash during the fourth quarter valued at $31,000. J.Safra Asset Management Corp raised its position in shares of FirstCash by 38.8% during the 4th quarter. J.Safra Asset Management Corp now owns 454 shares of the company's stock valued at $47,000 after buying an additional 127 shares in the last quarter. Hurley Capital LLC bought a new position in shares of FirstCash in the 4th quarter valued at about $74,000. R Squared Ltd purchased a new position in FirstCash in the fourth quarter worth about $92,000. Finally, Parkside Financial Bank & Trust increased its stake in FirstCash by 7.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,370 shares of the company's stock worth $142,000 after acquiring an additional 94 shares during the last quarter. Institutional investors own 80.30% of the company's stock.

FirstCash Trading Up 1.1 %

Shares of FCFS traded up $1.38 during midday trading on Friday, hitting $121.44. The stock had a trading volume of 269,715 shares, compared to its average volume of 270,668. The stock's 50 day moving average is $117.49 and its 200 day moving average is $111.53. The firm has a market cap of $5.44 billion, a PE ratio of 21.19 and a beta of 0.58. The company has a debt-to-equity ratio of 0.84, a current ratio of 4.14 and a quick ratio of 3.15. FirstCash Holdings, Inc. has a 1 year low of $100.24 and a 1 year high of $133.64.

FirstCash (NASDAQ:FCFS - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The company reported $2.12 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.10. FirstCash had a net margin of 7.64% and a return on equity of 14.99%. As a group, analysts forecast that FirstCash Holdings, Inc. will post 7.7 EPS for the current fiscal year.

FirstCash Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Friday, February 14th. FirstCash's dividend payout ratio is currently 26.53%.

Wall Street Analyst Weigh In

Separately, Stephens reaffirmed an "overweight" rating and issued a $137.00 price objective on shares of FirstCash in a research note on Wednesday, February 19th.

Insider Activity at FirstCash

In related news, major shareholder Douglas Richard Rippel sold 300,000 shares of FirstCash stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $113.43, for a total transaction of $34,029,000.00. Following the completion of the sale, the insider now owns 4,431,869 shares in the company, valued at $502,706,900.67. This trade represents a 6.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO R Douglas Orr sold 2,000 shares of the business's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $113.35, for a total transaction of $226,700.00. Following the completion of the sale, the chief financial officer now directly owns 100,567 shares of the company's stock, valued at approximately $11,399,269.45. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.77% of the stock is owned by company insiders.

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.