Key Points
- CAO Steven Barnette sold 1,640 shares at an average price of $37.00 (totaling $60,680), reducing his ownership by 7.14% to 21,338 shares.
- Regional Management beat Q3 estimates with EPS of $1.42 versus $1.39 and revenue of $165.49 million, and analysts expect roughly 4.7 EPS for the current year.
- The company declared a quarterly dividend of $0.30 per share (annualized $1.20, ~3.2% yield), while Wall Street consensus rates the stock as "Reduce" with a $30 price target.
Regional Management Corp. (NYSE:RM - Get Free Report) CAO Steven Barnette sold 1,640 shares of the stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $37.00, for a total transaction of $60,680.00. Following the sale, the chief accounting officer owned 21,338 shares in the company, valued at approximately $789,506. This trade represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Regional Management Stock Up 1.6%
NYSE:RM opened at $37.46 on Wednesday. Regional Management Corp. has a 52 week low of $25.41 and a 52 week high of $46.00. The company has a fifty day simple moving average of $39.44 and a two-hundred day simple moving average of $35.47. The company has a market cap of $363.86 million, a price-to-earnings ratio of 10.80 and a beta of 1.25.
Regional Management (NYSE:RM - Get Free Report) last released its earnings results on Wednesday, November 5th. The credit services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.39 by $0.03. Regional Management had a return on equity of 10.91% and a net margin of 5.68%.The firm had revenue of $165.49 million during the quarter, compared to analyst estimates of $162.84 million. On average, analysts expect that Regional Management Corp. will post 4.7 EPS for the current year.
Regional Management Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 16th. Stockholders of record on Tuesday, November 25th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 25th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.2%. Regional Management's payout ratio is currently 29.06%.
Institutional Trading of Regional Management
Several institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC acquired a new position in shares of Regional Management in the 3rd quarter valued at $39,000. Jacobs Levy Equity Management Inc. lifted its position in Regional Management by 17.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 70,086 shares of the credit services provider's stock valued at $2,731,000 after acquiring an additional 10,595 shares during the last quarter. Wexford Capital LP acquired a new position in Regional Management in the third quarter valued at $32,000. Public Employees Retirement System of Ohio grew its holdings in shares of Regional Management by 36.8% during the third quarter. Public Employees Retirement System of Ohio now owns 4,910 shares of the credit services provider's stock worth $191,000 after purchasing an additional 1,320 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Regional Management by 41.3% during the third quarter. Millennium Management LLC now owns 19,430 shares of the credit services provider's stock worth $757,000 after purchasing an additional 5,678 shares in the last quarter. Hedge funds and other institutional investors own 98.89% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on RM. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Regional Management in a report on Monday. Wall Street Zen cut shares of Regional Management from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Zacks Research downgraded shares of Regional Management from a "hold" rating to a "strong sell" rating in a research note on Thursday, November 6th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $30.00.
Read Our Latest Research Report on Regional Management
Regional Management Company Profile
(
Get Free Report)
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 lenders in the United States. It offers small and large installment loans; and retail loans to finance the purchase of furniture, appliances, and other retail products.
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