Synovus Financial Corp Sells 30,566 Shares of FirstCash Holdings, Inc. (NASDAQ:FCFS)

Synovus Financial Corp lowered its stake in shares of FirstCash Holdings, Inc. (NASDAQ:FCFS - Free Report) by 49.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,334 shares of the company's stock after selling 30,566 shares during the period. Synovus Financial Corp owned 0.07% of FirstCash worth $3,246,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Rialto Wealth Management LLC bought a new stake in shares of FirstCash during the 4th quarter valued at about $31,000. J.Safra Asset Management Corp lifted its position in shares of FirstCash by 38.8% in the 4th quarter. J.Safra Asset Management Corp now owns 454 shares of the company's stock worth $47,000 after purchasing an additional 127 shares during the period. Hurley Capital LLC bought a new stake in shares of FirstCash during the fourth quarter valued at approximately $74,000. R Squared Ltd purchased a new stake in FirstCash in the fourth quarter worth about $92,000. Finally, Parkside Financial Bank & Trust increased its holdings in shares of FirstCash by 7.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,370 shares of the company's stock valued at $142,000 after acquiring an additional 94 shares in the last quarter. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at FirstCash

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

FirstCash Stock Performance

FCFS stock traded up $1.38 on Friday, hitting $121.44. The company had a trading volume of 269,715 shares, compared to its average volume of 270,122. The stock has a market cap of $5.44 billion, a price-to-earnings ratio of 21.19 and a beta of 0.58. The company has a current ratio of 4.14, a quick ratio of 3.15 and a debt-to-equity ratio of 0.84. The stock's 50-day simple moving average is $117.34 and its 200 day simple moving average is $111.49. FirstCash Holdings, Inc. has a 12-month low of $100.24 and a 12-month high of $133.64.

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

FirstCash Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.38 dividend. 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 payout ratio is 26.53%.

Wall Street Analyst Weigh In

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

About FirstCash

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.