Synovus Financial Corp Has $3.25 Million Stock Position in FirstCash Holdings, Inc. (NASDAQ:FCFS)

Synovus Financial Corp cut its position in FirstCash Holdings, Inc. (NASDAQ:FCFS) by 49.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 31,334 shares of the company’s stock after selling 30,566 shares during the quarter. Synovus Financial Corp owned approximately 0.07% of FirstCash worth $3,246,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of FirstCash in the third quarter valued at about $553,000. JPMorgan Chase & Co. grew its holdings in FirstCash by 67.6% in the 4th quarter. JPMorgan Chase & Co. now owns 268,732 shares of the company’s stock valued at $27,841,000 after buying an additional 108,353 shares during the last quarter. Principal Financial Group Inc. increased its position in FirstCash by 3.6% in the 4th quarter. Principal Financial Group Inc. now owns 130,607 shares of the company’s stock worth $13,531,000 after buying an additional 4,483 shares during the period. Vanguard Group Inc. lifted its holdings in shares of FirstCash by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 4,112,978 shares of the company’s stock worth $426,105,000 after buying an additional 22,009 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of FirstCash in the fourth quarter valued at approximately $18,169,000. Institutional investors own 80.30% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stephens reissued an “overweight” rating and issued a $137.00 price target on shares of FirstCash in a report on Wednesday, February 19th.

FirstCash Trading Up 0.6 %

FirstCash stock opened at $121.30 on Tuesday. The business has a 50 day moving average price of $116.87 and a two-hundred day moving average price of $111.32. The company has a quick ratio of 3.15, a current ratio of 4.14 and a debt-to-equity ratio of 0.84. FirstCash Holdings, Inc. has a 12 month low of $100.24 and a 12 month high of $133.64. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 21.17 and a beta of 0.58.

FirstCash (NASDAQ:FCFS) last issued its earnings results 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 analysts forecast that FirstCash Holdings, Inc. will post 7.7 EPS for the current year.

FirstCash Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.38 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.52 dividend on an annualized basis and a yield of 1.25%. FirstCash’s payout ratio is currently 26.53%.

Insider Buying and Selling

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

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.