Globeflex Capital L P bought a new stake in shares of Regional Management Corp. (NYSE:RM – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 34,663 shares of the credit services provider’s stock, valued at approximately $1,428,000. Globeflex Capital L P owned 0.38% of Regional Management as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of RM. BlackRock Inc. purchased a new position in Regional Management during the second quarter worth approximately $47,514,000. Tieton Capital Management LLC acquired a new stake in Regional Management in the second quarter valued at approximately $13,112,000. Sei Investments Co. raised its stake in shares of Regional Management by 117.9% during the 1st quarter. Sei Investments Co. now owns 157,151 shares of the credit services provider’s stock worth $5,068,000 after buying an additional 85,040 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Regional Management during the 2nd quarter worth approximately $3,163,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Regional Management by 45.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 194,374 shares of the credit services provider’s stock valued at $5,853,000 after buying an additional 60,744 shares in the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently issued reports on the stock. Weiss Ratings cut shares of Regional Management from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Citigroup restated a “market outperform” rating on shares of Regional Management in a research report on Thursday, July 30th. Wall Street Zen downgraded Regional Management from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, Citizens Jmp decreased their price target on shares of Regional Management from $45.00 to $43.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 30th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Regional Management currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.
Insider Activity
In other news, CEO Lakhbir S. Lamba bought 3,500 shares of Regional Management stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $31.76 per share, with a total value of $111,160.00. Following the completion of the purchase, the chief executive officer directly owned 55,734 shares of the company’s stock, valued at approximately $1,770,111.84. This trade represents a 6.70% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Steven B. Barnette sold 3,274 shares of Regional Management stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $43.30, for a total transaction of $141,764.20. Following the transaction, the chief accounting officer directly owned 13,472 shares in the company, valued at $583,337.60. This trade represents a 19.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 10.90% of the stock is currently owned by company insiders.
Regional Management Stock Performance
Shares of Regional Management stock opened at $34.66 on Tuesday. The business’s 50 day moving average price is $38.19 and its 200 day moving average price is $36.02. The company has a market cap of $319.79 million, a price-to-earnings ratio of 7.30 and a beta of 1.02. The company has a debt-to-equity ratio of 4.41, a quick ratio of 64.04 and a current ratio of 64.04. Regional Management Corp. has a one year low of $30.46 and a one year high of $46.00.
Regional Management (NYSE:RM – Get Free Report) last issued its earnings results on Wednesday, July 29th. The credit services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.04. Regional Management had a return on equity of 12.49% and a net margin of 6.98%.The company had revenue of $168.01 million during the quarter, compared to analysts’ expectations of $165.69 million.
Regional Management Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.5%. Regional Management’s dividend payout ratio is currently 25.26%.
About Regional Management
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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