Regional Management (NYSE:RM) Major Shareholder Sells 10,401 Shares of Stock

Key Points

• Major shareholder Fund L.P. Forager sold 10,401 Regional Management shares at an average price of $32.22, generating $335,120.22 and reducing its stake by 1.12% to 919,136 shares.
• Regional Management reported quarterly EPS of $0.85, exceeding estimates of $0.81, while revenue of $168.01 million also topped expectations.
• The company paid a quarterly dividend of $0.30 per share, equivalent to an annualized $1.20 dividend and a 3.7% yield; analysts maintain a “Moderate Buy” consensus with a $43 average price target.

Regional Management Corp. (NYSE:RM - Get Free Report) major shareholder Fund L.P. Forager sold 10,401 shares of Regional Management stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $32.22, for a total value of $335,120.22. Following the transaction, the insider directly owned 919,136 shares of the company's stock, valued at $29,614,561.92. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases 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 shares were sold at an average price of $32.26, for a total transaction of $317,986.82.

Regional Management Price Performance

RM traded up $0.02 during midday trading on Thursday, reaching $32.14. 44,783 shares of the company's stock were exchanged, compared to its average volume of 70,101. Regional Management Corp. has a 1-year low of $30.46 and a 1-year high of $46.00. The stock has a market capitalization of $296.66 million, a PE ratio of 6.77 and a beta of 1.00. The company has a debt-to-equity ratio of 4.41, a current ratio of 64.04 and a quick ratio of 64.04. The business's 50-day moving average price is $35.60 and its 200 day moving average price is $35.82.

Regional Management (NYSE:RM - Get Free Report) last announced its earnings results 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 analyst estimates 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. Shareholders of record on Wednesday, August 19th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $1.20 annualized dividend and a yield of 3.7%. Regional Management's dividend payout ratio (DPR) is 25.26%.

Institutional Trading of Regional Management

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

Analyst Upgrades and Downgrades

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

Regional Management Company Profile

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.

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