Bank of Nova Scotia Takes Position in FirstCash Holdings, Inc. (NASDAQ:FCFS)

Bank of Nova Scotia acquired a new stake in FirstCash Holdings, Inc. (NASDAQ:FCFSFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,910 shares of the company’s stock, valued at approximately $207,000.

Several other hedge funds also recently modified their holdings of FCFS. State of Michigan Retirement System lifted its position in FirstCash by 1.1% in the fourth quarter. State of Michigan Retirement System now owns 8,915 shares of the company’s stock worth $966,000 after purchasing an additional 100 shares during the period. Covestor Ltd lifted its holdings in shares of FirstCash by 16.2% during the third quarter. Covestor Ltd now owns 985 shares of the company’s stock valued at $99,000 after acquiring an additional 137 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of FirstCash by 20.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 841 shares of the company’s stock valued at $91,000 after acquiring an additional 140 shares during the period. Retirement Systems of Alabama lifted its holdings in shares of FirstCash by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 46,326 shares of the company’s stock valued at $5,021,000 after acquiring an additional 140 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of FirstCash by 86.5% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 442 shares of the company’s stock valued at $44,000 after acquiring an additional 205 shares during the period. 80.30% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on FCFS. BTIG Research began coverage on FirstCash in a report on Friday. They set a “neutral” rating for the company. TD Cowen raised FirstCash from a “hold” rating to a “buy” rating and lifted their price objective for the company from $130.00 to $145.00 in a report on Wednesday, April 10th. Finally, Loop Capital raised FirstCash from a “hold” rating to a “buy” rating and lifted their price objective for the company from $125.00 to $140.00 in a report on Monday, April 29th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, FirstCash presently has a consensus rating of “Moderate Buy” and an average target price of $142.00.

Read Our Latest Research Report on FirstCash

FirstCash Price Performance

Shares of FCFS stock opened at $112.47 on Monday. The stock has a 50-day moving average price of $121.02 and a 200 day moving average price of $116.88. The company has a quick ratio of 3.03, a current ratio of 3.99 and a debt-to-equity ratio of 0.75. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of 21.92 and a beta of 0.64. FirstCash Holdings, Inc. has a 12 month low of $88.05 and a 12 month high of $133.64.

FirstCash (NASDAQ:FCFSGet Free Report) last posted its earnings results on Thursday, April 25th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.05. The company had revenue of $836.40 million during the quarter, compared to analyst estimates of $846.08 million. FirstCash had a return on equity of 14.73% and a net margin of 7.23%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.25 EPS. Research analysts expect that FirstCash Holdings, Inc. will post 6.75 EPS for the current year.

FirstCash Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.24%. FirstCash’s payout ratio is currently 27.29%.

Insider Transactions at FirstCash

In other news, Director Douglas Richard Rippel sold 21,852 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $119.90, for a total transaction of $2,620,054.80. Following the completion of the transaction, the director now directly owns 5,502,761 shares in the company, valued at approximately $659,781,043.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Douglas Richard Rippel sold 21,852 shares of FirstCash stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $119.90, for a total transaction of $2,620,054.80. Following the transaction, the director now owns 5,502,761 shares in the company, valued at approximately $659,781,043.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO R Douglas Orr sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $116.53, for a total value of $233,060.00. Following the completion of the sale, the chief financial officer now owns 92,715 shares in the company, valued at approximately $10,804,078.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 762,197 shares of company stock worth $89,918,428. 14.77% of the stock is currently owned by company insiders.

FirstCash Profile

(Free Report)

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.

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Institutional Ownership by Quarter for FirstCash (NASDAQ:FCFS)

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