Bank of New York Mellon Corp boosted its stake in shares of Regional Management Corp. (NYSE:RM) by 1.1% during the second quarter, Holdings Channel reports. The fund owned 60,110 shares of the company’s stock after buying an additional 673 shares during the period. Bank of New York Mellon Corp owned about 0.53% of Regional Management Corp. worth $881,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Sippican Capital Advisors bought a new position in shares of Regional Management Corp. during the second quarter worth approximately $220,000. Acadian Asset Management LLC boosted its stake in Regional Management Corp. by 369.5% in the second quarter. Acadian Asset Management LLC now owns 15,269 shares of the company’s stock worth $224,000 after buying an additional 12,017 shares in the last quarter. Bank of Montreal Can acquired a new stake in Regional Management Corp. during the second quarter worth approximately $752,000. Goldman Sachs Group Inc. boosted its stake in Regional Management Corp. by 98.6% in the first quarter. Goldman Sachs Group Inc. now owns 61,769 shares of the company’s stock worth $1,057,000 after buying an additional 30,674 shares in the last quarter. Finally, State Street Corp boosted its stake in Regional Management Corp. by 5.0% in the first quarter. State Street Corp now owns 138,707 shares of the company’s stock worth $2,372,000 after buying an additional 6,664 shares in the last quarter. 89.97% of the stock is currently owned by institutional investors.
Shares of Regional Management Corp. (NYSE:RM) traded down 0.70% on Monday, hitting $21.13. The stock had a trading volume of 9,885 shares. The firm has a market cap of $241.22 million, a P/E ratio of 10.82 and a beta of 1.59. The firm’s 50-day moving average price is $21.48 and its 200 day moving average price is $18.18. Regional Management Corp. has a 12 month low of $11.77 and a 12 month high of $22.44.
Regional Management Corp. (NYSE:RM) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.40 by $0.13. Regional Management Corp. had a net margin of 11.06% and a return on equity of 12.23%. The company had revenue of $57.30 million for the quarter, compared to analyst estimates of $58.32 million. Analysts anticipate that Regional Management Corp. will post $2.02 EPS for the current fiscal year.
RM has been the topic of a number of recent analyst reports. Zacks Investment Research cut Regional Management Corp. from a “strong-buy” rating to a “hold” rating in a report on Wednesday, September 28th. BMO Capital Markets reissued a “buy” rating and set a $26.00 price target on shares of Regional Management Corp. in a report on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods raised their price target on Regional Management Corp. from $17.50 to $19.00 and gave the company a “market perform” rating in a report on Thursday, July 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $21.25.
In other Regional Management Corp. news, major shareholder Glen Capital Partners Focus Fu sold 20,000 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $18.83, for a total value of $376,600.00. Following the sale, the insider now directly owns 1,111,592 shares of the company’s stock, valued at $20,931,277.36. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.60% of the stock is currently owned by company insiders.
Regional Management Corp. Company Profile
Regional Management Corp. is a diversified specialty consumer finance company. The Company provides a range of loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. Its products include small loans, large loans, automobile loans, retail loans and optional credit insurance products.
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