Regional Management (NYSE:RM) Shares Pass Above 200-Day Moving Average – Here’s Why

Regional Management Corp. (NYSE:RM) crossed above its 200-day moving average during trading on Monday . The stock has a 200-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.

Analyst Upgrades and Downgrades

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

Regional Management Stock Performance

The firm has a market capitalization of $383.59 million, a P/E ratio of 8.45 and a beta of 1.03. The firm has a 50-day moving average price of $36.80 and a two-hundred day moving average price of $36.16. The company has a debt-to-equity ratio of 4.30, a current ratio of 59.88 and a quick ratio of 59.88.

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

Regional Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.9%. Regional Management’s dividend payout ratio is presently 24.34%.

Insider Activity

In other news, EVP Brian J. Fisher sold 5,457 shares of Regional Management stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $38.09, for a total value of $207,857.13. Following the transaction, the executive vice president owned 27,745 shares of the company’s stock, valued at $1,056,807.05. The trade was a 16.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 value of $570,512.02. Following the transaction, the executive vice president directly owned 31,524 shares in the company, valued at approximately $1,200,749.16. The trade was a 32.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 105,810 shares of company stock worth $4,072,197. Corporate insiders own 10.90% of the company’s stock.

Institutional Investors Weigh In On Regional Management

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RM. Royal Bank of Canada grew its stake in shares of Regional Management by 2.4% during the first quarter. Royal Bank of Canada now owns 16,200 shares of the credit services provider’s stock worth $487,000 after acquiring an additional 375 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Regional Management in the 1st quarter valued at approximately $201,000. Goldman Sachs Group Inc. raised its position in shares of Regional Management by 45.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 194,374 shares of the credit services provider’s stock valued at $5,853,000 after purchasing an additional 60,744 shares during the last quarter. Empowered Funds LLC raised its position in shares of Regional Management by 7.2% in the 1st quarter. Empowered Funds LLC now owns 46,851 shares of the credit services provider’s stock valued at $1,411,000 after purchasing an additional 3,160 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in Regional Management in the 1st quarter worth approximately $282,000. 98.89% of the stock is currently owned by hedge funds and other institutional investors.

About Regional Management

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.