Regional Management Corp. (NYSE:RM) Shares Acquired by Summit Global Investments

Summit Global Investments increased its stake in shares of Regional Management Corp. (NYSE:RM) by 29.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,955 shares of the credit services provider’s stock after acquiring an additional 6,298 shares during the quarter. Summit Global Investments owned about 0.28% of Regional Management worth $701,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of Regional Management during the 4th quarter worth $102,000. Hsbc Holdings PLC raised its position in Regional Management by 34.1% in the third quarter. Hsbc Holdings PLC now owns 9,121 shares of the credit services provider’s stock valued at $258,000 after purchasing an additional 2,317 shares during the period. Barclays PLC boosted its holdings in Regional Management by 15.3% in the 3rd quarter. Barclays PLC now owns 11,548 shares of the credit services provider’s stock worth $319,000 after acquiring an additional 1,534 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Regional Management in the third quarter valued at $351,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Regional Management by 88.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 12,854 shares of the credit services provider’s stock valued at $356,000 after acquiring an additional 6,029 shares in the last quarter. 98.89% of the stock is owned by hedge funds and other institutional investors.

Regional Management Stock Performance

Shares of RM opened at $28.34 on Friday. The firm has a market cap of $279.72 million, a P/E ratio of 12.32 and a beta of 1.45. Regional Management Corp. has a twelve month low of $20.50 and a twelve month high of $34.60. The company has a debt-to-equity ratio of 4.33, a quick ratio of 41.16 and a current ratio of 41.17. The firm’s 50 day moving average price is $24.49 and its two-hundred day moving average price is $24.20.

Regional Management (NYSE:RM) last issued its quarterly earnings results on Wednesday, May 1st. The credit services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.69. Regional Management had a return on equity of 10.80% and a net margin of 4.01%. The company had revenue of $144.31 million for the quarter, compared to analyst estimates of $140.02 million. During the same period in the previous year, the company posted $0.90 earnings per share. On average, analysts forecast that Regional Management Corp. will post 4.24 EPS for the current fiscal year.

Regional Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Wednesday, May 22nd will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Tuesday, May 21st. Regional Management’s payout ratio is 52.17%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RM shares. Keefe, Bruyette & Woods raised their price objective on shares of Regional Management from $26.00 to $28.00 and gave the company a “market perform” rating in a research note on Friday. Stephens reiterated an “equal weight” rating and set a $30.00 price objective on shares of Regional Management in a research report on Thursday, February 8th. Finally, StockNews.com upgraded Regional Management from a “buy” rating to a “strong-buy” rating in a report on Thursday.

Insider Activity at Regional Management

In other news, Director Basswood Capital Management, L bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was acquired at an average cost of $24.59 per share, with a total value of $368,850.00. Following the completion of the purchase, the director now owns 475,484 shares of the company’s stock, valued at $11,692,151.56. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 9.80% of the stock is owned by company insiders.

Regional Management Company Profile

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 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.