Insider Buying: Regional Management (NYSE:RM) CEO Acquires $111,160.00 in Stock

Regional Management Corp. (NYSE:RM) CEO Lakhbir Lamba purchased 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average cost of $31.76 per share, for a total transaction of $111,160.00. Following the acquisition, the chief executive officer owned 55,734 shares of the company’s stock, valued at approximately $1,770,111.84. This trade represents a 6.70% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Regional Management Trading Up 2.6%

Shares of RM stock opened at $33.52 on Friday. The company has a market capitalization of $309.21 million, a PE ratio of 7.06 and a beta of 1.02. Regional Management Corp. has a 52-week low of $30.46 and a 52-week high of $46.00. The business’s fifty day moving average is $38.51 and its 200 day moving average is $36.17. The company has a debt-to-equity ratio of 4.41, a quick ratio of 64.04 and a current ratio of 64.04.

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

Regional Management Dividend Announcement

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

Analyst Upgrades and Downgrades

RM has been the subject of several research analyst reports. Citizens Jmp dropped their price target on Regional Management from $45.00 to $43.00 and set a “market outperform” rating for the company in a research note on Thursday, July 30th. Citigroup reiterated a “market outperform” rating on shares of Regional Management in a research 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, Weiss Ratings lowered Regional Management from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Institutional Inflows and Outflows

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

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.