FirstCash Holdings, Inc. (NASDAQ:FCFS) Plans Quarterly Dividend of $0.46

FirstCash Holdings, Inc. (NASDAQ:FCFS) announced a quarterly dividend on Thursday, October 22nd. Shareholders of record on Friday, November 13th will be paid a dividend of $0.46 per share on Tuesday, November 24th. This represents a $1.84 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, November 13th. This is a 9.5% increase from FirstCash’s previous quarterly dividend of $0.42.

FirstCash has increased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 8 years. FirstCash has a dividend payout ratio of 18.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect FirstCash to earn $12.74 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 13.2%.

FirstCash Price Performance

Shares of FirstCash stock traded down $31.97 on Thursday, reaching $184.78. The company’s stock had a trading volume of 1,782,268 shares, compared to its average volume of 382,990. The company has a market capitalization of $8.01 billion, a P/E ratio of 21.09 and a beta of 0.55. FirstCash has a 52-week low of $146.77 and a 52-week high of $238.93. The stock has a 50-day moving average price of $217.83 and a 200-day moving average price of $216.41. The company has a quick ratio of 3.51, a current ratio of 4.89 and a debt-to-equity ratio of 1.01.

FirstCash (NASDAQ:FCFS) last announced its earnings results on Thursday, October 22nd. The company reported $2.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.05. FirstCash had a return on equity of 19.65% and a net margin of 9.42%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $1.86 EPS. The business’s revenue was up 17.7% on a year-over-year basis. Analysts expect that FirstCash will post 11.59 EPS for the current year.

Insider Buying and Selling

In other FirstCash news, CFO R. Orr sold 2,000 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $216.00, for a total value of $432,000.00. Following the completion of the sale, the chief financial officer directly owned 34,734 shares in the company, valued at $7,502,544. This represents a 5.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Howard Hambleton sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $212.98, for a total transaction of $425,960.00. Following the transaction, the insider directly owned 30,406 shares in the company, valued at approximately $6,475,869.88. The trade was a 6.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 14,098 shares of company stock worth $3,051,281. 2.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FirstCash

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in FirstCash in the 2nd quarter valued at about $1,088,429,000. Bank of America Corp DE purchased a new stake in shares of FirstCash in the 2nd quarter valued at approximately $248,059,000. Bank of New York Mellon Corp acquired a new stake in shares of FirstCash during the 2nd quarter worth approximately $69,779,000. Atlas FRM LLC acquired a new stake in shares of FirstCash during the 2nd quarter worth approximately $58,406,400. Finally, Azora Capital LP purchased a new stake in shares of FirstCash during the 2nd quarter valued at approximately $45,580,000. 80.30% of the stock is owned by hedge funds and other institutional investors.

FirstCash Company Profile

FirstCash Holdings, Inc is a specialty financial services and retail company that operates pawn stores in the United States and Mexico. Through its pawn operations, the company provides short-term, collateral-backed loans to consumers who pledge personal property as security. Customers can reclaim their pledged items by repaying the loan and applicable fees within the required period.

The company also generates revenue by selling merchandise that has been forfeited on pawn loans or acquired through other purchasing activities.