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

Bank of America Corp DE boosted its stake in Regional Management Corp. (NYSE:RM) by 20.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,193 shares of the credit services provider’s stock after purchasing an additional 1,920 shares during the quarter. Bank of America Corp DE owned approximately 0.11% of Regional Management worth $380,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in RM. Tower Research Capital LLC TRC raised its holdings in shares of Regional Management by 49.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,019 shares of the credit services provider’s stock valued at $35,000 after buying an additional 339 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Regional Management by 16.2% during the fourth quarter. BNP Paribas Financial Markets now owns 2,162 shares of the credit services provider’s stock valued at $73,000 after buying an additional 301 shares during the period. State of Tennessee Department of Treasury purchased a new position in shares of Regional Management during the fourth quarter valued at approximately $183,000. Wells Fargo & Company MN boosted its position in shares of Regional Management by 40.1% during the fourth quarter. Wells Fargo & Company MN now owns 5,575 shares of the credit services provider’s stock valued at $189,000 after purchasing an additional 1,597 shares in the last quarter. Finally, Pacific Global Investment Management Co. boosted its position in shares of Regional Management by 9.8% during 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 purchasing an additional 665 shares in the last quarter. Institutional investors own 98.89% of the company’s stock.

Analysts Set New Price Targets

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

Regional Management Trading Up 0.1%

NYSE RM opened at $28.99 on Friday. Regional Management Corp. has a 12 month low of $25.41 and a 12 month high of $37.52. The stock has a market cap of $287.61 million, a P/E ratio of 6.97 and a beta of 1.17. The stock’s fifty day moving average price is $29.23 and its 200-day moving average price is $31.82. The company has a current ratio of 44.42, a quick ratio of 44.42 and a debt-to-equity ratio of 3.94.

Regional Management (NYSE:RM) last released its 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. Regional Management had a return on equity of 13.20% and a net margin of 7.01%. The firm had revenue of $152.97 million for the quarter, compared to analysts’ expectations of $153.59 million. As a group, equities analysts forecast that Regional Management Corp. will post 4.7 EPS for the current fiscal year.

Regional Management Announces Dividend

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

Insider Transactions at Regional Management

In other news, CEO Robert William Beck sold 1,665 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 100,008 shares of the company’s stock, valued at $3,013,241.04. This represents a 1.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Fund L.P. Forager purchased 12,754 shares of the stock in a transaction dated Tuesday, June 10th. The shares were acquired at an average cost of $28.20 per share, for a total transaction of $359,662.80. Following the completion of the acquisition, the insider now owns 1,016,236 shares of the company’s stock, valued at approximately $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 three months, insiders have purchased 23,836 shares of company stock valued at $666,998. Insiders own 10.80% of the company’s stock.

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.