Zacks Investment Research upgraded shares of Regional Management (NYSE:RM) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $29.00 price objective on the credit services provider’s stock.
According to Zacks, “Regional Management Corp. is a diversified specialty consumer finance company engaged in providing loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. It offers Small Installment Loans, Large Installment Loans, Automobile Purchase Loans, Furniture and Appliance Purchase Loans and Insurance Products. The Company has operations primarily in South Carolina, Texas, North Carolina, Tennessee and Alabama. Regional Management Corp. is headquartered in Greenville, South Carolina. “
Several other analysts have also recently weighed in on RM. Janney Montgomery Scott cut Avid Bioservices from a buy rating to a neutral rating and lowered their price target for the company from $10.00 to $5.00 in a report on Thursday, May 9th. ValuEngine raised Zuora from a hold rating to a buy rating in a report on Saturday, July 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company. Regional Management presently has an average rating of Hold and an average price target of $32.50.
Shares of NYSE RM opened at $26.92 on Wednesday. Regional Management has a 52 week low of $22.90 and a 52 week high of $36.18. The business has a 50-day moving average of $25.31. The company has a current ratio of 51.35, a quick ratio of 51.35 and a debt-to-equity ratio of 2.25. The company has a market cap of $317.47 million, a P/E ratio of 8.49 and a beta of 0.92.
Regional Management (NYSE:RM) last released its quarterly earnings results on Wednesday, May 8th. The credit services provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.12). Regional Management had a net margin of 11.02% and a return on equity of 13.80%. The business had revenue of $81.75 million during the quarter, compared to analysts’ expectations of $85.00 million. On average, equities research analysts predict that Regional Management will post 3.39 EPS for the current fiscal year.
In other news, Director Basswood Partners, L.L.C. acquired 62,155 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $24.03 per share, with a total value of $1,493,584.65. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Basswood Capital Management, L acquired 68,977 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The shares were purchased at an average cost of $24.03 per share, for a total transaction of $1,657,517.31. The disclosure for this purchase can be found here. Company insiders own 9.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. California Public Employees Retirement System raised its holdings in shares of Regional Management by 6.5% during the 4th quarter. California Public Employees Retirement System now owns 42,565 shares of the credit services provider’s stock valued at $1,024,000 after buying an additional 2,588 shares in the last quarter. Argent Capital Management LLC raised its holdings in shares of Regional Management by 19.3% during the 1st quarter. Argent Capital Management LLC now owns 65,412 shares of the credit services provider’s stock valued at $1,597,000 after buying an additional 10,602 shares in the last quarter. Signia Capital Management LLC raised its holdings in shares of Regional Management by 84.5% during the 1st quarter. Signia Capital Management LLC now owns 75,646 shares of the credit services provider’s stock valued at $1,847,000 after buying an additional 34,644 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Regional Management by 24.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 32,256 shares of the credit services provider’s stock valued at $788,000 after buying an additional 6,404 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new position in shares of Regional Management during the 4th quarter valued at about $443,000. 87.05% of the stock is currently owned by institutional investors.
About Regional Management
Regional Management Corp., a diversified consumer finance company, provides various installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other traditional lenders. The company offers small and large installment loans; loans to finance the purchase of furniture, appliances, and other retail products; insurance products, including credit life, credit accident and health, credit property, vehicle single interest, and credit involuntary unemployment insurance; collateral protection insurance; and property insurance, as well as reinsurance products.
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