Regional management company (NYSE:RM – Get a rating) Director Philip V. Bancroft purchased 6,500 shares of the company in a trade dated Wednesday, August 17. The stock was purchased at an average price of $38.65 per share, for a total transaction of $251,225.00. Following the acquisition, the director now owns 16,605 shares of the company, valued at approximately $641,783.25. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink.
Regional Trading Department 1.4% decrease
NYSE:RM opened at $38.44 on Friday. The stock’s 50-day simple moving average is $39.15 and its 200-day simple moving average is $44.50. Regional Management Corp. has a 12-month low of $36.50 and a 12-month high of $67.60. The company has a market capitalization of $371.71 million, a P/E ratio of 4.77 and a beta of 1.38. The company has a current ratio of 42.38, a quick ratio of 42.38 and a debt ratio of 3.96.
Announcement of the regional management dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Investors of record on Wednesday August 24 will receive a dividend of $0.30 per share. This represents a dividend of $1.20 on an annualized basis and a yield of 3.12%. The ex-dividend date is Tuesday, August 23. The Regional Management dividend distribution rate is currently 14.89%.
Institutional entries and exits
A number of institutional investors and hedge funds have recently bought and sold shares of RM. Forager Capital Management LLC acquired a new position in regional management during the fourth quarter with a value of $25,332,000. Deutsche Bank AG increased its holdings in regional management by 736.9% during the second quarter. Deutsche Bank AG now owns 37,810 shares of the credit services provider worth $1,413,000 after acquiring an additional 33,292 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in regional management by 45.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 94,732 shares of the credit service provider worth $4,602,000 after acquiring an additional 29,661 shares during the period. BlackRock Inc. increased its holdings in regional management by 2.6% in the first quarter. BlackRock Inc. now owns 913,071 shares of the credit service provider worth $44,348,000 after acquiring an additional 23,053 shares during the period. Finally, Camarda Financial Advisors LLC acquired a new regional management position during the first quarter at a value of $1,073,000. Institutional investors and hedge funds own 89.95% of the company’s shares.
Analyst upgrades and downgrades
RM has been the subject of a number of recent research reports. BMO Capital Markets lowered its target price on regional management from $58.00 to $52.00 in a Friday, August 5 report. Keefe, Bruyette & Woods lowered their target price on regional management from $53.00 to $41.00 in a Monday, July 11 report.
About regional management
Regional Management Corp., a diversified consumer finance company, offers various installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other lenders in the United States. It offers small and large installment loans; and retail loans to finance the purchase of furniture, appliances and other retail products.
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