Hancock Whitney Corp Lowers Holdings in FirstCash Holdings, Inc. (NASDAQ:FCFS)

Hancock Whitney Corp trimmed its position in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 52.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,672 shares of the company’s stock after selling 2,911 shares during the period. Hancock Whitney Corp’s holdings in FirstCash were worth $280,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sei Investments Co. lifted its position in FirstCash by 3.2% during the second quarter. Sei Investments Co. now owns 631,303 shares of the company’s stock valued at $66,211,000 after purchasing an additional 19,868 shares during the last quarter. Pacer Advisors Inc. increased its stake in FirstCash by 5.6% in the second quarter. Pacer Advisors Inc. now owns 6,916 shares of the company’s stock valued at $725,000 after acquiring an additional 366 shares during the last quarter. King Luther Capital Management Corp raised its position in FirstCash by 5.9% during the second quarter. King Luther Capital Management Corp now owns 24,777 shares of the company’s stock valued at $2,599,000 after purchasing an additional 1,389 shares in the last quarter. Intech Investment Management LLC purchased a new stake in FirstCash during the second quarter valued at about $1,024,000. Finally, MQS Management LLC bought a new stake in FirstCash during the second quarter worth about $219,000. 80.30% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Douglas Richard Rippel sold 7,316 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $119.98, for a total transaction of $877,773.68. Following the sale, the director now owns 4,735,843 shares of the company’s stock, valued at approximately $568,206,443.14. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO R Douglas Orr sold 2,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $107.18, for a total value of $214,360.00. Following the transaction, the chief financial officer now directly owns 90,715 shares in the company, valued at approximately $9,722,833.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Douglas Richard Rippel sold 7,316 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $119.98, for a total value of $877,773.68. Following the sale, the director now owns 4,735,843 shares of the company’s stock, valued at approximately $568,206,443.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,154 shares of company stock worth $1,912,562. 14.77% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, BTIG Research started coverage on shares of FirstCash in a research note on Friday, June 7th. They issued a “neutral” rating for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.00.

FirstCash Stock Performance

Shares of FCFS stock opened at $118.02 on Tuesday. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 23.01 and a beta of 0.62. The company has a debt-to-equity ratio of 0.85, a quick ratio of 3.04 and a current ratio of 4.03. FirstCash Holdings, Inc. has a one year low of $95.00 and a one year high of $133.64. The company’s 50-day moving average is $115.10 and its 200 day moving average is $116.27.

FirstCash (NASDAQ:FCFS) last announced its quarterly earnings results on Thursday, July 25th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. FirstCash had a net margin of 7.17% and a return on equity of 14.90%. The company had revenue of $831.00 million during the quarter, compared to the consensus estimate of $824.87 million. During the same quarter last year, the firm earned $1.22 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts expect that FirstCash Holdings, Inc. will post 6.56 EPS for the current fiscal year.

FirstCash Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, August 15th. This is a boost from FirstCash’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a dividend yield of 1.29%. FirstCash’s dividend payout ratio (DPR) is 29.63%.

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.