Regional Management (NYSE:RM) Major Shareholder Fund L.P. Forager Sells 10,401 Shares

Regional Management Corp. (NYSE:RM) major shareholder Fund L.P. Forager sold 10,401 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $32.22, for a total transaction of $335,120.22. Following the completion of the transaction, the insider owned 919,136 shares in the company, valued at $29,614,561.92. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Fund L.P. Forager also recently made the following trade(s):

• On Wednesday, September 16th, Fund L.P. Forager sold 9,064 shares of Regional Management stock. The shares were sold at an average price of $32.19, for a total transaction of $291,770.16.
• On Tuesday, September 15th, Fund L.P. Forager sold 9,857 shares of Regional Management stock. The stock was sold at an average price of $32.26, for a total value of $317,986.82.

Regional Management Stock Performance

NYSE RM opened at $32.14 on Friday. The stock has a market cap of $296.66 million, a PE ratio of 6.77 and a beta of 1.00. The company has a current ratio of 64.04, a quick ratio of 64.04 and a debt-to-equity ratio of 4.41. Regional Management Corp. has a twelve month low of $30.46 and a twelve month high of $46.00. The stock has a fifty day simple moving average of $35.60 and a 200-day simple moving average of $35.82.

Regional Management (NYSE:RM) last posted its earnings results on Wednesday, July 29th. The credit services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. The company had revenue of $168.01 million for the quarter, compared to analysts’ expectations 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.7%. Regional Management’s dividend payout ratio (DPR) is presently 25.26%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RM. Weiss Ratings downgraded Regional Management from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 7th. Citizens Jmp lowered their target price on Regional Management from $45.00 to $43.00 and set a “market outperform” rating for the company in a report on Thursday, July 30th. Wall Street Zen downgraded Regional Management from a “buy” rating to a “hold” rating in a research report on Sunday, August 9th. Finally, Citigroup reiterated a “market outperform” rating on shares of Regional Management in a research note on Thursday, July 30th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Institutional Investors Weigh In On Regional Management

Several large investors have recently bought and sold shares of the stock. Susquehanna Fundamental Investments LLC acquired a new stake in Regional Management in the 2nd quarter valued at about $266,000. Empowered Funds LLC acquired a new position in shares of Regional Management during the second quarter worth about $2,691,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Regional Management during the second quarter worth approximately $327,000. Bank of America Corp DE purchased a new stake in shares of Regional Management during the second quarter worth approximately $591,000. Finally, Basswood Capital Management L.L.C. acquired a new stake in Regional Management in the second quarter valued at approximately $35,244,000. Hedge funds and other institutional investors own 98.89% of the company’s stock.

About Regional Management

Regional Management Corp. is a specialty consumer finance company that provides credit products to customers who may have limited access to traditional bank financing. The company operates primarily through its Regional Finance branch network and focuses on serving non-prime consumers.

Its principal products include small and large installment loans, generally used for personal, household and other consumer purposes. Regional Management may also offer optional credit-related insurance and ancillary products in connection with its loans, subject to applicable laws and regulations.

Founded in 1987 and headquartered in Greer, South Carolina, the company serves customers across a network of branches concentrated in the southeastern and southwestern United States.