Charles Schwab Investment Management Inc. Acquires 34,861 Shares of Regional Management Corp. $RM

Charles Schwab Investment Management Inc. increased its holdings in Regional Management Corp. (NYSE:RM) by 69.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,220 shares of the credit services provider’s stock after acquiring an additional 34,861 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.85% of Regional Management worth $2,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Bridgeway Capital Management LLC raised its holdings in Regional Management by 1.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 100,191 shares of the credit services provider’s stock worth $3,404,000 after buying an additional 1,242 shares during the last quarter. Northern Trust Corp raised its holdings in Regional Management by 9.9% in the fourth quarter. Northern Trust Corp now owns 91,061 shares of the credit services provider’s stock worth $3,094,000 after buying an additional 8,189 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Regional Management by 22.7% in the fourth quarter. Two Sigma Advisers LP now owns 35,118 shares of the credit services provider’s stock worth $1,193,000 after buying an additional 6,500 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Regional Management by 13.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 34,304 shares of the credit services provider’s stock worth $1,166,000 after buying an additional 4,074 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Regional Management by 47.2% in the fourth quarter. Millennium Management LLC now owns 30,084 shares of the credit services provider’s stock worth $1,022,000 after buying an additional 9,643 shares during the last quarter. 98.89% of the stock is currently owned by institutional investors.

Insider Activity at Regional Management

In other Regional Management news, CEO Robert William Beck sold 10,000 shares of Regional Management stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $35.54, for a total transaction of $355,400.00. Following the transaction, the chief executive officer owned 79,673 shares of the company’s stock, valued at $2,831,578.42. The trade was a 11.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Fund L.P. Forager purchased 12,754 shares of the stock in a transaction on Tuesday, June 10th. The shares were purchased at an average cost of $28.20 per share, for a total transaction of $359,662.80. Following the acquisition, the insider directly owned 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. Insiders have acquired 36,082 shares of company stock worth $1,022,745 in the last ninety days. Insiders own 10.80% of the company’s stock.

Regional Management Stock Performance

Shares of RM stock opened at $43.84 on Friday. The company has a 50 day moving average price of $34.28 and a 200-day moving average price of $31.60. Regional Management Corp. has a 52 week low of $25.41 and a 52 week high of $43.91. The firm has a market capitalization of $429.58 million, a PE ratio of 12.63 and a beta of 1.25. The company has a quick ratio of 45.13, a current ratio of 45.13 and a debt-to-equity ratio of 4.14.

Regional Management (NYSE:RM) last posted its quarterly earnings data on Wednesday, July 30th. The credit services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.31. The company had revenue of $157.44 million for the quarter, compared to the consensus estimate of $155.22 million. Regional Management had a net margin of 5.68% and a return on equity of 10.91%. As a group, equities research analysts expect that Regional Management Corp. will post 4.7 earnings per share for the current year.

Regional Management Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, August 20th. This represents a $1.20 annualized dividend and a yield of 2.7%. Regional Management’s payout ratio is currently 34.58%.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Regional Management from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 3rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.00.

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 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.