Regional Management (NYSE:RM) CEO Purchases $205,335.00 in Stock

Regional Management Corp. (NYSE:RM) CEO Lakhbir Lamba purchased 6,500 shares of the stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average cost of $31.59 per share, with a total value of $205,335.00. Following the acquisition, the chief executive officer owned 52,234 shares in the company, valued at $1,650,072.06. The trade was a 14.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Regional Management Trading Up 2.6%

RM opened at $33.52 on Friday. The stock has a 50-day moving average of $38.51 and a 200 day moving average of $36.17. 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 12 month low of $30.46 and a 12 month high of $46.00. The firm has a market cap of $309.21 million, a P/E ratio of 7.06 and a beta of 1.02.

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, beating analysts’ consensus estimates of $0.81 by $0.04. The business had revenue of $168.01 million for the quarter, compared to the consensus estimate of $165.69 million. Regional Management had a return on equity of 12.49% and a net margin of 6.98%.

Regional Management Announces Dividend

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

Analysts Set New Price Targets

RM has been the subject of several recent analyst reports. Citigroup reaffirmed a “market outperform” rating on shares of Regional Management in a research note on Thursday, July 30th. Weiss Ratings lowered shares of Regional Management from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 7th. Wall Street Zen cut shares of Regional Management from a “buy” rating to a “hold” rating in a research note on Sunday, August 9th. Finally, Citizens Jmp cut their price target on shares of Regional Management from $45.00 to $43.00 and set a “market outperform” rating on the stock in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Hedge Funds Weigh In On Regional Management

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue bought a new position in Regional Management in the 4th quarter valued at $25,000. Legal & General Group Plc bought a new stake in shares of Regional Management during the second quarter worth $33,000. Wexford Capital LP bought a new stake in shares of Regional Management during the third quarter worth $32,000. Advisory Services Network LLC purchased a new stake in shares of Regional Management during the third quarter valued at $39,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Regional Management during the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 98.89% of the company’s stock.

About Regional Management

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.