PNC Financial Services Group Inc. Raises Stake in FirstCash Holdings, Inc. (NASDAQ:FCFS)

PNC Financial Services Group Inc. boosted its position in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 15.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,317 shares of the company’s stock after buying an additional 444 shares during the quarter. PNC Financial Services Group Inc.’s holdings in FirstCash were worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of FCFS. Fiduciary Management Inc. WI boosted its stake in FirstCash by 76.1% in the fourth quarter. Fiduciary Management Inc. WI now owns 1,303,533 shares of the company’s stock worth $135,046,000 after buying an additional 563,265 shares in the last quarter. GAMMA Investing LLC boosted its stake 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 buying an additional 258,657 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its stake 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 buying an additional 228,784 shares in the last quarter. Tidal Investments LLC purchased a new stake in FirstCash in the fourth quarter worth approximately $21,701,000. Finally, Raymond James Financial Inc. purchased a new stake in FirstCash in the fourth quarter worth approximately $18,169,000. Hedge funds and other institutional investors own 80.30% of the company’s stock.

FirstCash Stock Performance

Shares of FCFS stock opened at $139.34 on Friday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 3.12 and a current ratio of 4.21. FirstCash Holdings, Inc. has a fifty-two week low of $100.24 and a fifty-two week high of $141.56. The stock has a 50 day moving average price of $132.18 and a two-hundred day moving average price of $124.83. The company has a market capitalization of $6.18 billion, a P/E ratio of 21.40 and a beta of 0.68.

FirstCash (NASDAQ:FCFS) last announced its quarterly earnings data on Thursday, July 24th. The company reported $1.79 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $820.42 million. During the same quarter in the previous year, the company posted $1.37 earnings per share. The business’s revenue was up .0% on a year-over-year basis. Analysts expect that FirstCash Holdings, Inc. will post 7.7 earnings per share for the current year.

FirstCash Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 1.2%. This is a boost from FirstCash’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Friday, August 15th. FirstCash’s payout ratio is presently 23.35%.

Insider Activity at FirstCash

In other news, insider Howard F. Hambleton sold 3,900 shares of the business’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 transaction of $510,627.00. Following the transaction, the insider directly owned 32,481 shares of the company’s stock, valued at approximately $4,252,737.33. The trade was a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James H. Graves sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $134.56, for a total value of $807,360.00. Following the transaction, the director directly owned 15,846 shares in the company, valued at $2,132,237.76. This trade represents a 27.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.93% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on FCFS. Wall Street Zen downgraded FirstCash from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 12th. Capital One Financial set a $160.00 price objective on FirstCash in a research report on Tuesday, August 5th.

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.