Regional Management Corp. (NYSE: RM) was the target of strong growth in short-term interest rates during the month of November. As of November 30, there was short interest totaling 242,400 shares, an increase of 32.2% from the total of 183,400 shares on November 15. Currently 2.6% of stocks are sold short. Based on an average daily trading volume of 69,500 stocks, the day-to-coverage ratio is currently 3.5 days.
NYSE RM traded up $ 0.12 on Friday, reaching $ 54.31. The company had a trading volume of 122,212 shares, compared to an average volume of 61,070. The company has a market capitalization of $ 538.32 million, a PE ratio of 7.17 and a beta of 1.31. Regional management has a one-year minimum at $ 26.61 and a one-year maximum at $ 67.60. The company has a 50-day moving average of $ 57.72 and a 200-day moving average of $ 54.50. The company has a debt to equity ratio of 3.49, a current ratio of 34.12 and a rapid ratio of 34.12.
Regional management (NYSE: RM) last released its quarterly results on Monday, November 1. The credit services provider reported earnings of $ 2.11 per share for the quarter, beating the Zacks’ consensus estimate of $ 1.56 by $ 0.55. The company posted revenue of $ 111.46 million in the quarter, compared to analysts’ expectations of $ 103.32 million. Regional Management posted a return on equity of 29.58% and a net margin of 20.25%. In the same quarter of the previous year, the company made EPS of $ 1.01. As a group, sell-side analysts expect regional management to post an EPS of 8.18 for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15. Shareholders of record on Wednesday, November 24 received a dividend of $ 0.25. This represents a dividend of $ 1.00 on an annualized basis and a dividend yield of 1.84%. The ex-dividend date was Tuesday, November 23. The distribution rate of the Regional Directorate is 13.21%.
In related news, Executive Vice President Brian J. Fisher sold 4,860 shares of the company in a transaction dated Thursday, November 11. The shares were sold for an average price of $ 60.44, for a total value of $ 293,738.40. The sale was disclosed in a file with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, Principal Basswood Capital Management, L sold 58,359 shares of the company in a transaction dated Monday, November 22. The shares were sold at an average price of $ 64.19, for a total trade of $ 3,746,064.21. Disclosure of this sale can be found here. Insiders have sold a total of 99,865 shares of the company valued at $ 6,216,391 in the past ninety days. Company insiders own 9.70% of the company’s shares.
Several institutional investors and hedge funds have recently changed their positions in the company. BNP Paribas Arbitrage SA increased its position in Regional Management shares by 482.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,846 shares of the credit service provider valued at $ 107,000 after purchasing an additional 1,529 shares during the last quarter. UBS Group AG increased its position in Regional Management shares by 7.7% during the 3rd quarter. UBS Group AG now owns 4,461 shares of the credit service provider valued at $ 259,000 after acquiring an additional 319 shares in the last quarter. Royal Bank of Canada increased its position in Regional Management equities by 1.8% during the third quarter. Royal Bank of Canada now owns 18,647 shares of the credit services provider valued at $ 1,085,000 after acquiring 325 additional shares in the last quarter. Khrom Capital Management LLC increased its position in Regional Management shares by 3.3% during the 3rd quarter. Khrom Capital Management LLC now owns 155,139 shares of the credit service provider valued at $ 9,026,000 after acquiring an additional 5,000 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new equity stake in Regional Management during the 3rd quarter for a value of approximately $ 363,000. 80.87% of the shares are currently held by institutional investors.
A number of research companies recently commented on RM. JMP Securities downgraded Regional Management’s stock rating from an “outperformance” rating to a “market performance” rating in a research note dated Wednesday, September 29. Zacks investment research increased the regional management’s shares from a “keep” rating to a “buy” rating and set a price target of $ 66.00 for the company in a research note on Friday, November 5.
Profile of the regional management company
Regional Management Corp. provides financial services to consumers. The company’s products include small, large and retail installment loans. It also offers optional payment insurance and guarantee protection products. The company was founded by Richard A. Godley and C. Glynn Quattlebaum on March 25, 1987 and is headquartered in Greer, SC.
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