Empowered Funds LLC Purchases New Position in Regional Management Corp. $RM

Empowered Funds LLC purchased a new position in Regional Management Corp. (NYSE:RM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 65,304 shares of the credit services provider's stock, valued at approximately $2,691,000. Empowered Funds LLC owned approximately 0.71% of Regional Management at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Regional Management in the 2nd quarter valued at approximately $47,514,000. Basswood Capital Management L.L.C. bought a new position in shares of Regional Management during the 2nd quarter valued at approximately $35,244,000. Tieton Capital Management LLC bought a new position in shares of Regional Management during the 2nd quarter valued at approximately $13,112,000. Sei Investments Co. raised its holdings in Regional Management by 117.9% during the 1st quarter. Sei Investments Co. now owns 157,151 shares of the credit services provider's stock valued at $5,068,000 after buying an additional 85,040 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Regional Management during the 2nd quarter valued at $3,163,000. 98.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other Regional Management news, CAO Steven B. Barnette sold 3,274 shares of the business's stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $43.30, for a total value of $141,764.20. Following the completion of the sale, the chief accounting officer directly owned 13,472 shares of the company's stock, valued at $583,337.60. The trade was a 19.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lakhbir S. Lamba bought 3,500 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was bought at an average price of $31.76 per share, for a total transaction of $111,160.00. Following the completion of the purchase, the chief executive officer directly owned 55,734 shares in the company, valued at approximately $1,770,111.84. This represents a 6.70% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders sold 5,074 shares of company stock valued at $216,028. 10.90% of the stock is owned by corporate insiders.

Regional Management Price Performance

Shares of RM stock opened at $33.10 on Thursday. The stock has a 50 day moving average price of $37.48 and a 200 day moving average price of $35.89. Regional Management Corp. has a 52-week low of $30.46 and a 52-week high of $46.00. 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 market capitalization of $305.35 million, a P/E ratio of 6.97 and a beta of 1.00.

Regional Management (NYSE:RM - Get Free Report) last released its earnings results on Wednesday, July 29th. The credit services provider reported $0.85 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.04. The business had revenue of $168.01 million for the quarter, compared to analyst estimates of $165.69 million. Regional Management had a return on equity of 12.49% and a net margin of 6.98%.

Regional Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, August 19th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 3.6%. Regional Management's dividend payout ratio (DPR) is presently 25.26%.

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.

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