Tieton Capital Management LLC acquired a new stake in Regional Management Corp. (NYSE:RM – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 318,259 shares of the credit services provider’s stock, valued at approximately $13,112,000. Regional Management makes up about 3.8% of Tieton Capital Management LLC’s holdings, making the stock its 8th biggest position. Tieton Capital Management LLC owned 3.45% of Regional Management at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in shares of Regional Management by 9.9% in the fourth quarter. Russell Investments Group Ltd. now owns 3,876 shares of the credit services provider’s stock valued at $150,000 after acquiring an additional 350 shares during the period. Royal Bank of Canada boosted its holdings in Regional Management by 2.4% in the 1st quarter. Royal Bank of Canada now owns 16,200 shares of the credit services provider’s stock valued at $487,000 after purchasing an additional 375 shares during the period. JPMorgan Chase & Co. grew its position in shares of Regional Management by 9.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,824 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 425 shares in the last quarter. First Trust Advisors LP grew its position in shares of Regional Management by 1.6% during the 4th quarter. First Trust Advisors LP now owns 28,006 shares of the credit services provider’s stock worth $1,085,000 after purchasing an additional 436 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Regional Management by 2.8% during the first quarter. Janney Montgomery Scott LLC now owns 17,464 shares of the credit services provider’s stock worth $563,000 after purchasing an additional 473 shares during the period. Institutional investors own 98.89% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. Weiss Ratings cut Regional Management from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Citigroup reaffirmed a “market outperform” rating on shares of Regional Management in a report on Thursday, July 30th. Wall Street Zen lowered Regional Management from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Finally, Citizens Jmp decreased their price target on Regional Management from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 30th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Regional Management currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.
Regional Management Price Performance
RM stock opened at $33.61 on Thursday. The company has a 50 day simple moving average of $38.36 and a 200 day simple moving average of $36.11. The stock has a market cap of $310.21 million, a price-to-earnings ratio of 7.08 and a beta of 1.02. Regional Management Corp. has a 1 year low of $30.46 and a 1 year high of $46.00. The company has a debt-to-equity ratio of 4.41, a current ratio of 64.04 and a quick ratio of 64.04.
Regional Management (NYSE:RM – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. Regional Management had a return on equity of 12.49% and a net margin of 6.98%.The firm had revenue of $168.01 million for the quarter, compared to analyst estimates of $165.69 million.
Regional Management Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.6%. The ex-dividend date is Wednesday, August 19th. Regional Management’s dividend payout ratio is 25.26%.
Insider Activity
In related news, CEO Lakhbir S. Lamba bought 6,500 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average cost of $31.59 per share, with a total value of $205,335.00. Following the transaction, the chief executive officer directly owned 52,234 shares in the company, valued at approximately $1,650,072.06. This trade represents a 14.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sandra K. Johnson sold 1,000 shares of Regional Management stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $36.00, for a total value of $36,000.00. Following the transaction, the director directly owned 21,933 shares in the company, valued at $789,588. The trade was a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 5,874 shares of company stock valued at $245,028. Insiders own 10.90% of the company’s stock.
Regional Management Company Profile
Regional Management Corp., headquartered in Wilmington, North Carolina, is a consumer finance company specializing in installment loan products for underbanked individuals. Since its founding in 1977, the company has developed a network of field-based branches alongside a digital platform to offer credit solutions in rural and small-town markets across the United States.
The company’s core offerings include consumer installment loans for everyday purchases, auto refinancing and lease buyouts, as well as ancillary services such as insurance referrals.
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