California State Teachers Retirement System cut its stake in shares of FirstCash Inc (NASDAQ:FCFS) by 10.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 84,100 shares of the credit services provider’s stock after selling 9,681 shares during the period. California State Teachers Retirement System owned 0.18% of FirstCash worth $4,903,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of FirstCash by 1.0% during the second quarter. BlackRock Inc. now owns 5,957,256 shares of the credit services provider’s stock valued at $347,308,000 after buying an additional 58,403 shares during the period. Vanguard Group Inc. increased its position in shares of FirstCash by 1.2% during the second quarter. Vanguard Group Inc. now owns 4,199,210 shares of the credit services provider’s stock valued at $244,815,000 after buying an additional 51,576 shares during the period. William Blair Investment Management LLC increased its position in shares of FirstCash by 5.0% during the second quarter. William Blair Investment Management LLC now owns 1,887,660 shares of the credit services provider’s stock valued at $110,051,000 after buying an additional 90,041 shares during the period. Earnest Partners LLC increased its position in shares of FirstCash by 1.5% during the second quarter. Earnest Partners LLC now owns 1,451,425 shares of the credit services provider’s stock valued at $84,618,000 after buying an additional 21,038 shares during the period. Finally, Vaughan Nelson Investment Management L.P. increased its position in shares of FirstCash by 1.8% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,148,491 shares of the credit services provider’s stock valued at $66,956,000 after buying an additional 20,500 shares during the period.

Several research analysts have recently commented on FCFS shares. Zacks Investment Research raised FirstCash from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Thursday, August 31st. BidaskClub lowered FirstCash from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Credit Suisse Group started coverage on FirstCash in a report on Wednesday, October 4th. They set an “outperform” rating and a $73.00 price objective for the company. Finally, CL King lowered FirstCash from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $65.14.

FirstCash (NASDAQ:FCFS) last issued its earnings results on Thursday, October 26th. The credit services provider reported $0.61 earnings per share (EPS) for the quarter, beating the 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 for the quarter, compared to the consensus estimate of $418.57 million. During the same quarter last year, the company earned $0.58 EPS. The firm’s quarterly revenue was up 66.7% on a year-over-year basis.

FirstCash announced that its board has initiated a share buyback program on Thursday, October 26th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the credit services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Shareholders of record on Monday, November 13th will be paid a $0.20 dividend. This is an increase from FirstCash’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.80 dividend on an annualized basis and a yield of 1.25%. FirstCash’s payout ratio is presently 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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Institutional Ownership by Quarter for FirstCash (NASDAQ:FCFS)

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