Bank of America Corp DE Purchases 1,920 Shares of Regional Management Corp. (NYSE:RM)

Bank of America Corp DE raised its position in Regional Management Corp. (NYSE:RM) by 20.7% during the fourth quarter, Holdings Channel reports. The fund owned 11,193 shares of the credit services provider’s stock after acquiring an additional 1,920 shares during the period. Bank of America Corp DE’s holdings in Regional Management were worth $380,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of RM. Tower Research Capital LLC TRC lifted its holdings in Regional Management by 49.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,019 shares of the credit services provider’s stock valued at $35,000 after acquiring an additional 339 shares during the period. BNP Paribas Financial Markets lifted its holdings in Regional Management by 16.2% in the fourth quarter. BNP Paribas Financial Markets now owns 2,162 shares of the credit services provider’s stock valued at $73,000 after acquiring an additional 301 shares during the period. State of Tennessee Department of Treasury bought a new position in Regional Management in the fourth quarter valued at about $183,000. Wells Fargo & Company MN lifted its holdings in Regional Management by 40.1% in the fourth quarter. Wells Fargo & Company MN now owns 5,575 shares of the credit services provider’s stock valued at $189,000 after acquiring an additional 1,597 shares during the period. Finally, Pacific Global Investment Management Co. lifted its holdings in Regional Management by 9.8% in the fourth quarter. Pacific Global Investment Management Co. now owns 7,433 shares of the credit services provider’s stock valued at $253,000 after acquiring an additional 665 shares during the period. Institutional investors own 98.89% of the company’s stock.

Insider Buying and Selling

In other Regional Management news, CEO Robert William Beck sold 1,665 shares of the firm’s stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $30.13, for a total transaction of $50,166.45. Following the completion of the transaction, the chief executive officer now owns 100,008 shares in the company, valued at $3,013,241.04. This trade represents a 1.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Fund L.P. Forager purchased 12,754 shares of the business’s stock in a transaction on Tuesday, June 10th. The shares were purchased at an average price of $28.20 per share, with a total value of $359,662.80. Following the acquisition, the insider now directly owns 1,016,236 shares in the company, valued at $28,657,855.20. This represents a 1.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 23,836 shares of company stock worth $666,998. 10.80% of the stock is owned by corporate insiders.

Regional Management Stock Performance

Shares of RM opened at $28.99 on Friday. The company has a quick ratio of 44.42, a current ratio of 44.42 and a debt-to-equity ratio of 3.94. The business has a 50-day simple moving average of $29.23 and a two-hundred day simple moving average of $31.82. The stock has a market cap of $287.61 million, a price-to-earnings ratio of 6.97 and a beta of 1.17. Regional Management Corp. has a 52 week low of $25.41 and a 52 week high of $37.52.

Regional Management (NYSE:RM) last issued its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. The business had revenue of $152.97 million during the quarter, compared to analysts’ expectations of $153.59 million. Regional Management had a return on equity of 13.20% and a net margin of 7.01%. On average, analysts expect that Regional Management Corp. will post 4.7 EPS for the current year.

Regional Management Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Wednesday, May 21st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Wednesday, May 21st. Regional Management’s dividend payout ratio is currently 36.36%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on RM shares. Keefe, Bruyette & Woods lowered their target price on Regional Management from $33.00 to $30.00 and set a “market perform” rating on the stock in a report on Friday, May 2nd. Wall Street Zen cut Regional Management from a “strong-buy” rating to a “buy” rating in a research report on Sunday, May 4th.

Regional Management 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.