Zacks Investment Research cut shares of Regional Management (NYSE:RM) from a buy rating to a hold rating in a research note published on Wednesday, March 14th.
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. “
RM has been the subject of a number of other research reports. ValuEngine downgraded shares of Regional Management from a strong-buy rating to a buy rating in a report on Saturday, January 13th. BMO Capital Markets reaffirmed a hold rating and issued a $32.00 price target on shares of Regional Management in a report on Monday, January 8th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $27.00 price target on shares of Regional Management in a report on Friday, December 22nd. Finally, Jefferies Group reissued a buy rating and issued a $33.00 price objective on shares of Regional Management in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Regional Management presently has a consensus rating of Hold and a consensus price target of $29.00.
Regional Management (NYSE RM) opened at $31.61 on Wednesday. The company has a debt-to-equity ratio of 2.37, a current ratio of 42.60 and a quick ratio of 42.60. Regional Management has a 1-year low of $18.31 and a 1-year high of $35.34. The company has a market cap of $373.27, a PE ratio of 13.30 and a beta of 1.31.
Regional Management (NYSE:RM) last announced its quarterly earnings results on Tuesday, February 13th. The credit services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Regional Management had a net margin of 11.00% and a return on equity of 12.54%. The firm had revenue of $72.11 million during the quarter, compared to the consensus estimate of $71.86 million. research analysts expect that Regional Management will post 3.12 earnings per share for the current year.
In related news, major shareholder Basswood Capital Management, L purchased 7,881 shares of the firm’s stock in a transaction dated Friday, December 29th. The stock was purchased at an average price of $26.40 per share, with a total value of $208,058.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roel C. Campos purchased 800 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The shares were bought at an average cost of $31.56 per share, with a total value of $25,248.00. Following the purchase, the director now directly owns 29,654 shares of the company’s stock, valued at approximately $935,880.24. The disclosure for this purchase can be found here. In the last three months, insiders acquired 23,267 shares of company stock valued at $620,808 and sold 33,325 shares valued at $928,591. 9.50% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of RM. Teachers Advisors LLC raised its stake in shares of Regional Management by 0.9% during the second quarter. Teachers Advisors LLC now owns 17,045 shares of the credit services provider’s stock valued at $403,000 after acquiring an additional 152 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Regional Management by 7.1% during the second quarter. Vanguard Group Inc. now owns 695,053 shares of the credit services provider’s stock valued at $16,424,000 after acquiring an additional 46,288 shares in the last quarter. State Street Corp raised its stake in shares of Regional Management by 11.7% during the second quarter. State Street Corp now owns 194,758 shares of the credit services provider’s stock valued at $4,601,000 after acquiring an additional 20,390 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Regional Management by 6.4% during the second quarter. The Manufacturers Life Insurance Company now owns 9,194 shares of the credit services provider’s stock valued at $218,000 after acquiring an additional 554 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Regional Management by 8.0% during the third quarter. American Century Companies Inc. now owns 180,253 shares of the credit services provider’s stock valued at $4,364,000 after acquiring an additional 13,351 shares in the last quarter. 88.26% of the stock is owned by hedge funds and other institutional investors.
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Regional Management Company Profile
Regional Management Corp. is a diversified consumer finance company. The Company provides an array of loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. Its products include small loans, large loans, automobile loans, retail loans, and optional payment and collateral protection insurance products.
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