Shares of Regional Management Corp. (NYSE:RM) purchased by Russell Investments Group Ltd.

By Barbara Crockett On Aug 20, 2022

Russell Investments Group Ltd. increased its position in shares of Regional Management Corp. (NYSE:RM – Get a rating) by 37.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The company held 20,160 shares of the credit service provider after purchasing an additional 5,454 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.21% of Regional Management worth $977,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently increased or reduced their stakes in the company. Assenagon Asset Management SA increased its position in regional management by 18.6% during the first quarter. Assenagon Asset Management SA now owns 39,328 shares of the credit services provider valued at $1,910,000 after purchasing an additional 6,174 shares during the period. Khrom Capital Management LLC increased its position in regional management stocks by 12.2% in the fourth quarter. Khrom Capital Management LLC now owns 174,139 shares of the credit service provider valued at $10,006,000 after purchasing an additional 19,000 shares during the period. MBM Wealth Consultants LLC increased its position in regional management stocks by 10.8% in the fourth quarter. MBM Wealth Consultants LLC now owns 6,574 shares of the credit services provider valued at $378,000 after purchasing an additional 641 shares during the period. Fuller & Thaler Asset Management Inc. increased its position in regional management stocks by 0.4% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 61,976 shares of the credit service provider valued at $3,561,000 after purchasing an additional 275 shares during the period. Finally, Lazard Asset Management LLC increased its position in regional management equities by 61.3% in the fourth quarter. Lazard Asset Management LLC now owns 953 shares of the credit service provider valued at $54,000 after purchasing an additional 362 shares during the period. Institutional investors and hedge funds own 89.95% of the company’s shares.

Wall Street analysts predict growth

Several research companies have recently weighed in on RM. BMO Capital Markets cut its price target on regional leadership shares from $58.00 to $52.00 in a Friday, August 5 research note. Keefe, Bruyette & Woods cut their price target on Regional Management shares from $53.00 to $41.00 in a Monday, July 11 research note.

Insiders place their bets

In other regional management news, Basswood Capital Management director L sold 6,000 shares of regional management in a trade dated Tuesday, August 9. The shares were sold at an average price of $37.91, for a total transaction of $227,460.00. Following the transaction, the administrator now directly owns 866,706 shares of the company, valued at $32,856,824.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. In other regional management news, Basswood Capital Management director L sold 6,000 shares of regional management in a trade dated Tuesday, August 9. The shares were sold at an average price of $37.91, for a total transaction of $227,460.00. Following the transaction, the administrator now directly owns 866,706 shares of the company, valued at $32,856,824.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Additionally, director Sandra K. Johnson sold 1,687 shares of Regional Management in a trade dated Monday, May 23. The stock was sold at an average price of $44.77, for a total transaction of $75,526.99. As a result of the transaction, the administrator now directly owns 4,997 shares of the company, valued at $223,715.69. Disclosure of this sale can be found here. Insiders sold 40,339 shares of the company valued at $1,564,681 in the past ninety days. Insiders of the company hold 8.90% of the shares of the company.

Regional management inventory performance

NYSE:RM opened at $38.44 on Friday. The company has a current ratio of 42.38, a quick ratio of 42.38 and a debt ratio of 3.96. The company’s 50-day moving average price is $39.15 and its 200-day moving average price is $44.54. Regional Management Corp. has a 12-month low of $36.50 and a 12-month high of $67.60. The company has a market capitalization of $371.79 million, a P/E ratio of 4.77 and a beta of 1.38.

Regional management announces dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15. Shareholders of record on Wednesday August 24 will receive a dividend of $0.30 per share. This represents a dividend of $1.20 on an annualized basis and a yield of 3.12%. The ex-dividend date is Tuesday, August 23. The Regional Management’s dividend distribution rate (DPR) is currently 14.89%.

Regional management profile

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Regional Management Corp., a diversified consumer finance company, offers 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.