FirstCash Holdings, Inc. Plans Quarterly Dividend of $0.35 (NASDAQ:FCFS)

FirstCash Holdings, Inc. (NASDAQ:FCFSGet Free Report) announced a quarterly dividend on Thursday, February 1st, Wall Street Journal reports. Stockholders of record on Wednesday, February 14th will be paid a dividend of 0.35 per share on Wednesday, February 28th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, February 13th.

FirstCash has raised its dividend payment by an average of 8.0% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. FirstCash has a payout ratio of 17.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect FirstCash to earn $8.09 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 17.3%.

FirstCash Stock Up 0.6 %

Shares of FCFS stock opened at $119.10 on Monday. The firm’s fifty day moving average price is $112.09 and its two-hundred day moving average price is $104.48. The company has a current ratio of 3.89, a quick ratio of 2.96 and a debt-to-equity ratio of 0.80. FirstCash has a 1 year low of $86.10 and a 1 year high of $122.87. The firm has a market capitalization of $5.37 billion, a P/E ratio of 24.66 and a beta of 0.62.

FirstCash (NASDAQ:FCFSGet Free Report) last released its earnings results on Thursday, February 1st. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.25. FirstCash had a return on equity of 14.42% and a net margin of 6.96%. The business had revenue of $852.13 million for the quarter, compared to the consensus estimate of $859.23 million. During the same quarter in the previous year, the business earned $1.65 earnings per share. FirstCash’s quarterly revenue was up 12.5% on a year-over-year basis. On average, equities analysts predict that FirstCash will post 7.1 EPS for the current fiscal year.

Insider Transactions at FirstCash

In related news, Director Douglas Richard Rippel sold 25,968 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $116.10, for a total value of $3,014,884.80. Following the sale, the director now owns 5,946,649 shares in the company, valued at approximately $690,405,948.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Douglas Richard Rippel sold 25,968 shares of FirstCash stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $116.10, for a total transaction of $3,014,884.80. Following the completion of the sale, the director now owns 5,946,649 shares of the company’s stock, valued at approximately $690,405,948.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO R Douglas Orr sold 3,000 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $116.25, for a total transaction of $348,750.00. Following the completion of the transaction, the chief financial officer now directly owns 94,715 shares in the company, valued at $11,010,618.75. The disclosure for this sale can be found here. In the last three months, insiders sold 47,988 shares of company stock worth $5,595,442. 18.08% of the stock is owned by company insiders.

Institutional Trading of FirstCash

Hedge funds have recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in FirstCash during the 2nd quarter worth $28,000. Point72 Asset Management L.P. acquired a new stake in FirstCash in the 2nd quarter worth about $54,000. Covestor Ltd boosted its holdings in FirstCash by 87.3% in the 1st quarter. Covestor Ltd now owns 691 shares of the company’s stock valued at $49,000 after purchasing an additional 322 shares during the period. Brown Brothers Harriman & Co. acquired a new position in shares of FirstCash during the 1st quarter worth approximately $77,000. Finally, Bessemer Group Inc. increased its holdings in shares of FirstCash by 1,066.1% during the fourth quarter. Bessemer Group Inc. now owns 2,099 shares of the company’s stock worth $183,000 after purchasing an additional 1,919 shares during the period. 77.28% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FCFS has been the subject of several recent analyst reports. Stephens increased their price objective on FirstCash from $131.00 to $141.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. TD Cowen initiated coverage on shares of FirstCash in a research report on Wednesday, November 1st. They issued a “market perform” rating and a $120.00 price objective for the company.

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FirstCash Company Profile

(Get Free Report)

FirstCash Holdings, Inc, together with its subsidiaries, operates retail pawn stores in the United States, Mexico, and rest of Latin America. 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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Dividend History for FirstCash (NASDAQ:FCFS)

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