Regional Management (NYSE:RM) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Regional Management Corp. (NYSE:RM)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $36.16 and traded as high as $41.86. Regional Management shares last traded at $41.6490, with a volume of 92,380 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RM shares. Wall Street Zen raised Regional Management from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 20th. Citigroup reiterated a “market outperform” rating on shares of Regional Management in a research note on Wednesday, June 17th. Citizens Jmp upgraded Regional Management from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research note on Thursday, May 21st. Finally, Weiss Ratings raised Regional Management from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Regional Management currently has an average rating of “Moderate Buy” and an average price target of $45.00.

Regional Management Trading Up 2.8%

The company has a current ratio of 59.88, a quick ratio of 59.88 and a debt-to-equity ratio of 4.30. The company has a market capitalization of $390.00 million, a price-to-earnings ratio of 8.59 and a beta of 1.03. The firm has a 50-day moving average price of $36.82 and a 200-day moving average price of $36.19.

Regional Management (NYSE:RM) last announced its earnings results on Wednesday, April 29th. The credit services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.20. Regional Management had a return on equity of 13.16% and a net margin of 7.40%.The business had revenue of $167.29 million during the quarter, compared to analysts’ expectations of $161.55 million.

Regional Management Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Wednesday, May 20th. Regional Management’s dividend payout ratio (DPR) is presently 24.34%.

Insiders Place Their Bets

In related news, major shareholder Fund L.P. Forager sold 17,602 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $38.06, for a total transaction of $669,932.12. Following the transaction, the insider directly owned 994,263 shares of the company’s stock, valued at approximately $37,841,649.78. The trade was a 1.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Harpreet Rana sold 14,978 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $38.09, for a total transaction of $570,512.02. Following the completion of the transaction, the executive vice president directly owned 31,524 shares in the company, valued at $1,200,749.16. This trade represents a 32.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 105,810 shares of company stock worth $4,072,197. 10.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Regional Management

Several large investors have recently made changes to their positions in RM. Russell Investments Group Ltd. lifted its holdings in shares of Regional Management by 9.9% during the fourth quarter. Russell Investments Group Ltd. now owns 3,876 shares of the credit services provider’s stock worth $150,000 after buying an additional 350 shares during the last quarter. Royal Bank of Canada increased its holdings in Regional Management by 2.4% in the 1st quarter. Royal Bank of Canada now owns 16,200 shares of the credit services provider’s stock valued at $487,000 after buying an additional 375 shares during the period. JPMorgan Chase & Co. lifted its stake in Regional Management by 9.7% during the second quarter. JPMorgan Chase & Co. now owns 4,824 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 425 shares during the period. First Trust Advisors LP lifted its position in shares of Regional Management by 1.6% during the 4th quarter. First Trust Advisors LP now owns 28,006 shares of the credit services provider’s stock worth $1,085,000 after buying an additional 436 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of Regional Management by 3.6% in the 3rd quarter. Rhumbline Advisers now owns 13,455 shares of the credit services provider’s stock worth $524,000 after purchasing an additional 467 shares during the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.

Regional Management Company Profile

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.