Empowered Funds LLC Invests $2.69 Million in Regional Management Corp. $RM

Empowered Funds LLC purchased a new stake in shares of Regional Management Corp. (NYSE:RM) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 65,304 shares of the credit services provider’s stock, valued at approximately $2,691,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Regional Management in the second quarter worth about $47,514,000. Basswood Capital Management L.L.C. increased its position in Regional Management by 0.4% during the 2nd quarter. Basswood Capital Management L.L.C. now owns 1,024,310 shares of the credit services provider’s stock valued at $29,920,000 after purchasing an additional 4,491 shares during the period. LSV Asset Management raised its holdings in shares of Regional Management by 7.7% in the 4th quarter. LSV Asset Management now owns 338,832 shares of the credit services provider’s stock valued at $13,130,000 after purchasing an additional 24,232 shares in the last quarter. Tieton Capital Management LLC bought a new stake in shares of Regional Management in the 2nd quarter valued at about $13,112,000. Finally, Renaissance Technologies LLC lifted its position in shares of Regional Management by 15.8% in the 4th quarter. Renaissance Technologies LLC now owns 243,137 shares of the credit services provider’s stock worth $9,422,000 after purchasing an additional 33,200 shares during the period. 98.89% of the stock is currently owned by institutional investors.

Regional Management Stock Performance

RM stock opened at $33.10 on Thursday. Regional Management Corp. has a one year low of $30.46 and a one year high of $46.00. The firm has a market cap of $305.35 million, a price-to-earnings ratio of 6.97 and a beta of 1.00. The company has a debt-to-equity ratio of 4.41, a quick ratio of 64.04 and a current ratio of 64.04. The firm has a 50-day simple moving average of $37.48 and a two-hundred day simple moving average of $35.89.

Regional Management (NYSE:RM) last issued its quarterly earnings data on Wednesday, July 29th. The credit services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. The firm had revenue of $168.01 million for the quarter, compared to the consensus estimate of $165.69 million. Regional Management had a net margin of 6.98% and a return on equity of 12.49%.

Regional Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, August 19th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Regional Management’s payout ratio is currently 25.26%.

Insider Buying and Selling at Regional Management

In other news, CAO Steven B. Barnette sold 3,274 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $583,337.60. This represents a 19.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lakhbir S. Lamba purchased 6,500 shares of Regional Management stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average cost of $31.59 per share, for a total transaction of $205,335.00. Following the completion of the transaction, the chief executive officer owned 52,234 shares of the company’s stock, valued at approximately $1,650,072.06. This represents a 14.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 5,074 shares of company stock worth $216,028 over the last ninety days. Corporate insiders own 10.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RM shares. Citizens Jmp dropped their price objective 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. Citigroup reissued a “market outperform” rating on shares of Regional Management in a research note on Thursday, July 30th. Weiss Ratings lowered Regional Management from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 7th. Finally, Wall Street Zen cut Regional Management from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Regional Management presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Regional Management Company Profile

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.