Rice Hall James & Associates LLC Lowers Stake in FirstCash Inc (FCFS)

Rice Hall James & Associates LLC reduced its position in FirstCash Inc (NASDAQ:FCFS) by 4.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 217,980 shares of the credit services provider’s stock after selling 10,313 shares during the period. Rice Hall James & Associates LLC owned 0.46% of FirstCash worth $13,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. increased its stake in shares of FirstCash by 0.3% in the 2nd quarter. Chevy Chase Trust Holdings Inc. now owns 4,394 shares of the credit services provider’s stock valued at $256,000 after buying an additional 12 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of FirstCash by 1.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,160 shares of the credit services provider’s stock valued at $242,000 after buying an additional 50 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of FirstCash by 0.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 32,077 shares of the credit services provider’s stock valued at $1,870,000 after buying an additional 83 shares during the period. HL Financial Services LLC increased its stake in shares of FirstCash by 2.2% in the 2nd quarter. HL Financial Services LLC now owns 4,237 shares of the credit services provider’s stock valued at $247,000 after buying an additional 91 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in shares of FirstCash by 0.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 29,848 shares of the credit services provider’s stock valued at $1,740,000 after buying an additional 100 shares during the period.

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Several equities research analysts have recently commented on FCFS shares. BidaskClub cut FirstCash from a “buy” rating to a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research raised FirstCash from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Thursday, August 24th. Wedbush lifted their target price on FirstCash from $62.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, October 5th. Finally, JMP Securities lifted their target price on FirstCash and gave the company an “outperform” rating in a research note on Friday, July 28th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. FirstCash has an average rating of “Buy” and a consensus price target of $65.14.

FirstCash (NASDAQ:FCFS) last announced its quarterly earnings results on Thursday, October 26th. The credit services provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. FirstCash had a return on equity of 4.10% and a net margin of 3.66%. The company had revenue of $435.40 million during the quarter, compared to analysts’ expectations of $418.57 million. During the same period in the prior year, the company earned $0.58 EPS. FirstCash’s revenue was up 66.7% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 13th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.25%. This is a boost from FirstCash’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, November 10th. FirstCash’s dividend payout ratio is presently 25.38%.

FirstCash declared that its Board of Directors has initiated a stock buyback program on Thursday, October 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the credit services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

About FirstCash

FirstCash, Inc, formerly First Cash Financial Services, Inc, is an operator of retail-based pawn stores in the United States and Latin America. The Company’s primary business is the operation of full-service pawn stores, which make small pawn loans secured by personal property, such as consumer electronics, jewelry, power tools, household appliances, sporting goods and musical instruments.

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Institutional Ownership by Quarter for FirstCash (NASDAQ:FCFS)

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