Key Points
- Insider sale: Regional Management CAO Steven Barnette sold 3,274 shares on July 10 at an average price of $43.30, reducing his holdings by 19.55%.
- Strong quarterly results: The company reported Q1 earnings of $1.18 per share, beating estimates, while revenue of $167.29 million also came in above expectations.
- Positive outlook and dividend: Regional Management pays a $0.30 quarterly dividend, yielding about 2.8%, and analysts currently have a consensus Moderate Buy rating with a $45.00 average price target.
Regional Management Corp. (NYSE:RM - Get Free Report) CAO Steven Barnette sold 3,274 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $43.30, for a total value of $141,764.20. Following the completion of the sale, the chief accounting officer owned 13,472 shares of the company's stock, valued at $583,337.60. The trade was a 19.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Regional Management Stock Performance
Shares of Regional Management stock opened at $43.26 on Wednesday. Regional Management Corp. has a 12 month low of $30.46 and a 12 month high of $46.00. The company has a quick ratio of 59.88, a current ratio of 59.88 and a debt-to-equity ratio of 4.30. The stock has a market cap of $398.42 million, a PE ratio of 8.77 and a beta of 1.01. The business has a fifty day simple moving average of $37.59 and a 200-day simple moving average of $36.35.
Regional Management (NYSE:RM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The credit services provider reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.20. Regional Management had a return on equity of 13.16% and a net margin of 7.40%.The firm had revenue of $167.29 million during the quarter, compared to the consensus estimate of $161.55 million.
Regional Management Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were issued a $0.30 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.8%. Regional Management's dividend payout ratio is currently 24.34%.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of the business. Russell Investments Group Ltd. increased its position in Regional Management by 9.9% during the fourth quarter. Russell Investments Group Ltd. now owns 3,876 shares of the credit services provider's stock worth $150,000 after acquiring an additional 350 shares during the period. Royal Bank of Canada raised its stake in Regional Management by 2.4% during 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 last quarter. JPMorgan Chase & Co. boosted its holdings in Regional Management by 9.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,824 shares of the credit services provider's stock valued at $141,000 after purchasing an additional 425 shares during the period. First Trust Advisors LP grew its position in Regional Management by 1.6% in 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 during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Regional Management by 2.8% in the 1st 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 last quarter. Institutional investors and hedge funds own 98.89% of the company's stock.
Analysts Set New Price Targets
Several analysts recently commented on RM shares. Citizens Jmp upgraded shares of Regional Management from a "market perform" rating to an "outperform" rating and set a $45.00 price target for the company in a report on Thursday, May 21st. Wall Street Zen upgraded shares of Regional Management from a "buy" rating to a "strong-buy" rating in a research note on Sunday. Citigroup reiterated a "market outperform" rating on shares of Regional Management in a research report on Wednesday, June 17th. Finally, Weiss Ratings raised Regional Management from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 26th. Two equities 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.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.00.
Read Our Latest Analysis on Regional Management
About Regional Management
(
Get Free Report)
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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