Philip V. Bancroft, director of Regional Management Corp. (NYSE:RM – Get Rating), acquired 6,500 shares of Regional Management in a transaction dated Wednesday, August 17. The shares were purchased at an average price of $38.65 per share for a total transaction of $251,225.00. Following the transaction, the director now owns 16,605 shares of the Company, valued at approximately $641,783.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Regional management trade up 1.2%
NYSE RM rose $0.47 on Thursday to hit $39.00. The stock had a trading volume of 32,758 shares compared to an average volume of 39,971. The company has a market cap of $377.21 million, a price-to-earnings ratio of 4.78 and a beta of 1.38. The company has a quick ratio of 42.38, a current ratio of 42.38 and a debt to equity ratio of 3.96. Regional Management Corp. has a 12-month low of $36.50 and a 12-month high of $67.60. The stock has a 50-day moving average price of $39.30 and a 200-day moving average price of $44.71.
Announcement of the dividend for the regional management
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 24 will receive a dividend of $0.30. That equates to a dividend of $1.20 on an annualized basis and a yield of 3.08%. The ex-dividend date is Tuesday 23rd August. The regional management payout ratio is 14.89%.
Wall Street analysts forecast growth
Several research companies have recently commented on RM. BMO Capital Markets lowered its price target on Regional Management shares to $52.00 from $58.00 in a research report on Friday, August 5. Keefe, Bruyette & Woods lowered their target price on Regional Management to $41.00 from $53.00 in a research report on Monday, July 11.
Institutional trade of regional management
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd purchased a new position in Regional Management stock valued at $316,000 during the fourth quarter. Advisor Group Holdings Inc. increased its stake in Regional Management stock by 12.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 4,541 shares of the credit servicer, valued at $261,000, after purchasing an additional 509 shares last quarter. American Century Companies Inc. increased its stake in Regional Management stock by 34.1% in the fourth quarter. American Century Companies Inc. now owns 34,046 shares of the credit servicer’s stock valued at $1,956,000 after purchasing an additional 8,651 shares last quarter. First Trust Advisors LP increased its stake in Regional Management shares by 9.9% in the fourth quarter. First Trust Advisors LP now owns 14,953 shares of the credit servicer, valued at $859,000, after purchasing an additional 1,344 shares last quarter. Finally, Lazard Asset Management LLC increased its stake in Regional Management by 61.3% in the fourth quarter. Lazard Asset Management LLC now owns 953 shares of the loan servicer’s stock, valued at $54,000, after purchasing an additional 362 shares last quarter. Hedge funds and other institutional investors own 89.95% of the company’s shares.
Profile of the regional management company
Regional Management Corp., a diversified consumer finance company, offers a variety of personal loan products primarily to customers with limited access to consumer credit from banks, savings companies, credit card companies and other lenders in the United States. It offers small and large installment loans; and retail loans to finance purchases of furniture, appliances and other retail products.
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