Zions Bancorporation Invests $230,000 in First Cash, Inc. (FCFS) Stock
Zions Bancorporation bought a new position in shares of First Cash, Inc. (NYSE:FCFS) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,648 shares of the credit services provider’s stock, valued at approximately $230,000.
Other institutional investors also recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of First Cash during the third quarter worth approximately $1,736,000. Grandeur Peak Global Advisors LLC acquired a new position in shares of First Cash during the third quarter worth approximately $54,801,000. Finally, Earnest Partners LLC lifted its holdings in shares of First Cash by 1.6% during the third quarter. Earnest Partners LLC now owns 1,474,115 shares of the credit services provider’s stock worth $93,090,000 after buying an additional 22,690 shares during the last quarter. 95.71% of the stock is owned by hedge funds and other institutional investors.
First Cash, Inc. (NYSE:FCFS) opened at $68.00 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.57 and a quick ratio of 4.30. The company has a market capitalization of $3,201.62, a price-to-earnings ratio of 26.30 and a beta of 0.79. First Cash, Inc. has a 12 month low of $39.80 and a 12 month high of $68.50.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 30th. Investors of record on Monday, November 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from First Cash’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, November 10th. First Cash’s dividend payout ratio is presently 34.19%.
FCFS has been the subject of a number of research analyst reports. Zacks Investment Research upgraded First Cash from a “sell” rating to a “buy” rating and set a $72.00 price target for the company in a report on Monday, October 30th. BidaskClub lowered First Cash from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Finally, Wedbush upped their price target on First Cash from $62.00 to $66.00 and gave the stock an “outperform” rating in a report on Thursday, October 5th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. First Cash has a consensus rating of “Buy” and an average target price of $65.14.
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About First Cash
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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