Wells Fargo & Company MN Sells 17,766 Shares of FirstCash Inc (FCFS)
Wells Fargo & Company MN cut its position in FirstCash Inc (NASDAQ:FCFS) by 4.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 401,387 shares of the credit services provider’s stock after selling 17,766 shares during the quarter. Wells Fargo & Company MN owned about 0.83% of FirstCash worth $23,400,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio boosted its stake in FirstCash by 100.0% in the 2nd quarter. Strs Ohio now owns 3,800 shares of the credit services provider’s stock valued at $221,000 after purchasing an additional 1,900 shares during the period. Teacher Retirement System of Texas bought a new stake in FirstCash in the 2nd quarter valued at $227,000. Newfoundland Capital Management bought a new stake in FirstCash in the 1st quarter valued at $201,000. BlueCrest Capital Management Ltd bought a new stake in FirstCash in the 1st quarter valued at $202,000. Finally, Ameritas Investment Partners Inc. bought a new stake in FirstCash in the 1st quarter valued at $202,000.
Several analysts recently issued reports on FCFS shares. Stephens boosted their price target on FirstCash from $51.00 to $62.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 21st. Zacks Investment Research upgraded FirstCash from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research note on Thursday, August 31st. BidaskClub upgraded FirstCash from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. CL King downgraded FirstCash from a “strong-buy” rating to a “buy” rating in a research note on Thursday, July 27th. Finally, Janney Montgomery Scott downgraded FirstCash from a “buy” rating to a “neutral” rating and reduced their price target for the company from $58.55 to $58.00 in a research note on Monday, July 17th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. FirstCash presently has an average rating of “Buy” and a consensus target price of $61.50.
Shares of FirstCash Inc (FCFS) opened at 61.50 on Monday. The stock’s 50 day moving average price is $58.89 and its 200-day moving average price is $54.14. The company has a market capitalization of $2.93 billion, a P/E ratio of 33.30 and a beta of 0.90. FirstCash Inc has a 52-week low of $39.80 and a 52-week high of $61.65.
FirstCash (NASDAQ:FCFS) last released its earnings results on Thursday, July 27th. The credit services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.05. FirstCash had a return on equity of 4.10% and a net margin of 3.66%. The business had revenue of $416.60 million during the quarter, compared to the consensus estimate of $410.65 million. During the same period last year, the business posted $0.51 earnings per share. The business’s revenue for the quarter was up 128.9% on a year-over-year basis. On average, equities analysts expect that FirstCash Inc will post $2.66 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 31st. Stockholders of record on Tuesday, August 15th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Friday, August 11th. FirstCash’s payout ratio is currently 25.38%.
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FirstCash Company Profile
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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