Regional Management (NYSE:RM) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Regional Management (NYSE:RM) from a buy rating to a hold rating in a research note issued to investors on Friday morning, Zacks.com reports.

According to Zacks, “Regional Management Corp. is a diversified specialty consumer finance company engaged in providing loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. It offers Small Installment Loans, Large Installment Loans, Automobile Purchase Loans, Furniture and Appliance Purchase Loans and Insurance Products. The Company has operations primarily in South Carolina, Texas, North Carolina, Tennessee and Alabama. Regional Management Corp. is headquartered in Greenville, South Carolina. “

Several other analysts have also recently commented on RM. ValuEngine upgraded shares of Regional Management from a strong sell rating to a sell rating in a research report on Thursday, August 1st. Janney Montgomery Scott upgraded shares of Regional Management from a neutral rating to a buy rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Regional Management currently has an average rating of Hold and a consensus price target of $31.80.

Shares of Regional Management stock opened at $27.29 on Friday. The firm has a fifty day moving average of $26.26 and a two-hundred day moving average of $25.86. The stock has a market capitalization of $309.55 million, a price-to-earnings ratio of 8.61 and a beta of 0.93. Regional Management has a 52 week low of $22.90 and a 52 week high of $35.37. The company has a debt-to-equity ratio of 2.44, a quick ratio of 48.69 and a current ratio of 48.69.

Regional Management (NYSE:RM) last issued its earnings results on Wednesday, July 31st. The credit services provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.65 by $0.05. The company had revenue of $84.27 million during the quarter, compared to analysts’ expectations of $80.50 million. Regional Management had a net margin of 10.59% and a return on equity of 13.37%. As a group, research analysts forecast that Regional Management will post 3.43 EPS for the current fiscal year.

In other news, Director Basswood Partners, L.L.C. purchased 62,155 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $24.03 per share, with a total value of $1,493,584.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Basswood Capital Management, L purchased 68,977 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was purchased at an average cost of $24.03 per share, with a total value of $1,657,517.31. The disclosure for this purchase can be found here. In the last three months, insiders bought 213,101 shares of company stock valued at $5,360,791 and sold 26,524 shares valued at $726,507. 9.50% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the company. Bank of Montreal Can boosted its stake in Regional Management by 203.4% in the 2nd quarter. Bank of Montreal Can now owns 1,174 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 787 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Regional Management by 210.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,948 shares of the credit services provider’s stock worth $48,000 after purchasing an additional 1,321 shares during the period. Metropolitan Life Insurance Co. NY boosted its stake in Regional Management by 358.8% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,845 shares of the credit services provider’s stock worth $92,000 after purchasing an additional 3,007 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Regional Management in the 2nd quarter worth $276,000. Finally, Public Employees Retirement System of Ohio boosted its stake in Regional Management by 5.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 19,187 shares of the credit services provider’s stock worth $506,000 after purchasing an additional 917 shares during the period. 90.83% of the stock is owned by institutional investors.

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 traditional lenders. The company offers small and large installment loans; loans to finance the purchase of furniture, appliances, and other retail products; insurance products, including credit life, credit accident and health, credit property, vehicle single interest, and credit involuntary unemployment insurance; collateral protection insurance; and property insurance, as well as reinsurance products.

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