Zacks Investment Research upgraded shares of Regional Management (NYSE:RM) from a hold rating to a buy rating in a report released on Tuesday, Zacks.com reports. They currently have $32.00 price objective on the credit services provider’s stock.
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. “
Separately, ValuEngine raised Regional Management from a strong sell rating to a sell rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $32.40.
NYSE RM opened at $27.72 on Tuesday. Regional Management has a twelve month low of $22.90 and a twelve month high of $30.45. The company has a debt-to-equity ratio of 2.44, a quick ratio of 48.69 and a current ratio of 48.69. The stock has a market capitalization of $318.28 million, a PE ratio of 8.74 and a beta of 0.90. The stock has a 50-day simple moving average of $27.09 and a 200 day simple moving average of $25.76.
Regional Management (NYSE:RM) last posted its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.05. Regional Management had a return on equity of 13.37% and a net margin of 10.59%. The business had revenue of $84.27 million during the quarter, compared to analysts’ expectations of $80.50 million. As a group, equities research analysts forecast that Regional Management will post 3.43 EPS for the current fiscal year.
In other news, insider Basswood Capital Management, L purchased 31,749 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average cost of $27.13 per share, for a total transaction of $861,350.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John D. Schachtel purchased 4,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average price of $27.46 per share, for a total transaction of $109,840.00. Following the completion of the purchase, the chief operating officer now directly owns 26,378 shares of the company’s stock, valued at $724,339.88. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 101,827 shares of company stock valued at $2,723,614 and have sold 130,319 shares valued at $3,471,805. 9.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of RM. Bank of Montreal Can increased its stake in Regional Management by 203.4% during the second quarter. Bank of Montreal Can now owns 1,174 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 787 shares during the period. BNP Paribas Arbitrage SA increased its stake in Regional Management by 210.7% during the first quarter. BNP Paribas Arbitrage SA now owns 1,948 shares of the credit services provider’s stock valued at $48,000 after acquiring an additional 1,321 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Regional Management during the second quarter valued at about $276,000. Hancock Whitney Corp increased its stake in Regional Management by 18.2% during the second quarter. Hancock Whitney Corp now owns 10,896 shares of the credit services provider’s stock valued at $287,000 after acquiring an additional 1,677 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in Regional Management by 5.0% during the second quarter. Public Employees Retirement System of Ohio now owns 19,187 shares of the credit services provider’s stock valued at $506,000 after acquiring an additional 917 shares during the period. Hedge funds and other institutional investors own 86.40% of the company’s stock.
Regional Management Company Profile
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 traditional lenders. The company offers small and large installment loans; loans to finance the purchase of furniture, appliances, and other retail products; insurance products, including credit life, credit accident and health, credit property, vehicle single interest, and credit involuntary unemployment insurance; collateral protection insurance; and property insurance, as well as reinsurance products.
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