Los Angeles Capital Management LLC lifted its stake in shares of Regional Management Corp. (NYSE:RM) by 122.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,004 shares of the credit services provider’s stock after purchasing an additional 18,170 shares during the period. Los Angeles Capital Management LLC’s holdings in Regional Management were worth $985,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC lifted its stake in shares of Regional Management by 416.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,579 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 1,273 shares during the period. BNP Paribas Arbitrage SA lifted its position in Regional Management by 499.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,002 shares of the credit services provider’s stock valued at $33,000 after purchasing an additional 1,668 shares during the period. Denali Advisors LLC acquired a new position in Regional Management in the fourth quarter valued at approximately $47,000. AJO LP acquired a new position in Regional Management in the third quarter valued at approximately $98,000. Finally, MBM Wealth Consultants LLC acquired a new position in Regional Management in the third quarter valued at approximately $136,000. Institutional investors own 75.80% of the company’s stock.
Separately, Janney Montgomery Scott downgraded Regional Management from a “buy” rating to a “neutral” rating in a research note on Thursday, November 12th.
Regional Management (NYSE:RM) last posted its earnings results on Tuesday, February 9th. The credit services provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.43. Regional Management had a net margin of 7.50% and a return on equity of 17.39%. Equities research analysts expect that Regional Management Corp. will post 3.79 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 12th. Investors of record on Tuesday, February 23rd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend is Monday, February 22nd. Regional Management’s payout ratio is presently 21.05%.
About Regional Management
Regional Management Corp., a diversified consumer finance company, provides various installment loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders. It offers small and large installment loans; retail loans to finance the purchase of furniture, appliances, and other retail products; insurance products, including credit life, credit accident and health, credit property, vehicle single interest, and credit involuntary unemployment insurance; collateral protection insurance; and property insurance, as well as reinsurance products.
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