Synovus Financial Corp Buys 32,592 Shares of FirstCash Holdings, Inc. (NASDAQ:FCFS)

Synovus Financial Corp grew its stake in FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 111.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,900 shares of the company's stock after buying an additional 32,592 shares during the quarter. Synovus Financial Corp owned 0.14% of FirstCash worth $7,106,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. raised its position in FirstCash by 4.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,173 shares of the company's stock valued at $228,000 after buying an additional 95 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in shares of FirstCash by 1.5% in the third quarter. Thrivent Financial for Lutherans now owns 9,147 shares of the company's stock worth $1,050,000 after purchasing an additional 138 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of FirstCash by 15.4% in the second quarter. Parkside Financial Bank & Trust now owns 1,230 shares of the company's stock worth $129,000 after purchasing an additional 164 shares in the last quarter. Fifth Third Bancorp boosted its holdings in FirstCash by 1.0% during the second quarter. Fifth Third Bancorp now owns 17,252 shares of the company's stock worth $1,809,000 after purchasing an additional 168 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in FirstCash by 8.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,405 shares of the company's stock valued at $252,000 after purchasing an additional 194 shares in the last quarter. Institutional investors and hedge funds own 80.30% of the company's stock.

FirstCash Stock Performance

FCFS stock traded down $2.30 during trading hours on Friday, reaching $106.30. The stock had a trading volume of 265,522 shares, compared to its average volume of 246,955. The stock has a 50-day simple moving average of $108.33 and a 200 day simple moving average of $111.18. FirstCash Holdings, Inc. has a fifty-two week low of $101.62 and a fifty-two week high of $133.64. The stock has a market capitalization of $4.76 billion, a PE ratio of 19.69 and a beta of 0.65. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.31 and a quick ratio of 3.23.

FirstCash (NASDAQ:FCFS - Get Free Report) last issued its earnings results on Thursday, October 24th. The company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.05. The business had revenue of $837.30 million during the quarter, compared to the consensus estimate of $843.94 million. FirstCash had a net margin of 7.29% and a return on equity of 14.97%. FirstCash's revenue was up 6.5% on a year-over-year basis. During the same period last year, the business posted $1.56 EPS. Analysts predict that FirstCash Holdings, Inc. will post 6.6 EPS for the current fiscal year.

FirstCash Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend was Friday, November 15th. FirstCash's dividend payout ratio (DPR) is presently 28.15%.

Insider Buying and Selling at FirstCash

In other news, CFO R Douglas Orr sold 2,000 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $105.68, for a total value of $211,360.00. Following the transaction, the chief financial officer now owns 88,715 shares of the company's stock, valued at approximately $9,375,401.20. This represents a 2.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 14.77% of the company's stock.

Wall Street Analyst Weigh In

FCFS has been the topic of several analyst reports. TD Cowen cut their price target on shares of FirstCash from $134.00 to $130.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. Stephens assumed coverage on FirstCash in a report on Wednesday, November 13th. They set an "overweight" rating and a $137.00 target price on the stock.

FirstCash Company 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.