Allspring Global Investments Holdings LLC Sells 547 Shares of Regional Management Corp. $RM

Allspring Global Investments Holdings LLC reduced its position in Regional Management Corp. (NYSE:RM) by 5.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,973 shares of the credit services provider’s stock after selling 547 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.10% of Regional Management worth $308,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC grew its holdings in shares of Regional Management by 83.0% during the 1st quarter. Acadian Asset Management LLC now owns 155,885 shares of the credit services provider’s stock valued at $4,691,000 after purchasing an additional 70,721 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Regional Management by 45.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 194,374 shares of the credit services provider’s stock valued at $5,853,000 after purchasing an additional 60,744 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Regional Management by 69.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 85,220 shares of the credit services provider’s stock valued at $2,566,000 after purchasing an additional 34,861 shares during the last quarter. Nuveen LLC bought a new stake in shares of Regional Management during the 1st quarter valued at approximately $884,000. Finally, American Century Companies Inc. grew its holdings in shares of Regional Management by 21.2% during the 1st quarter. American Century Companies Inc. now owns 163,219 shares of the credit services provider’s stock valued at $4,915,000 after purchasing an additional 28,536 shares during the last quarter. 98.89% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Regional Management from a “buy” rating to a “strong-buy” rating in a report on Sunday, August 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Regional Management in a report on Saturday. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $34.00.

Regional Management Stock Up 2.1%

Regional Management stock opened at $40.90 on Friday. Regional Management Corp. has a 12-month low of $25.41 and a 12-month high of $46.00. The firm’s fifty day moving average is $41.11 and its 200 day moving average is $34.30. The company has a market capitalization of $400.77 million, a PE ratio of 11.79 and a beta of 1.17.

Regional Management (NYSE:RM) last released its earnings results on Wednesday, July 30th. The credit services provider reported $1.03 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts expect that Regional Management Corp. will post 4.7 EPS for the current fiscal year.

Regional Management Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Wednesday, August 20th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Wednesday, August 20th. Regional Management’s payout ratio is 34.58%.

Insider Activity at Regional Management

In other news, CEO Robert William Beck sold 10,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $35.54, for a total value of $355,400.00. Following the completion of the sale, the chief executive officer owned 79,673 shares in the company, valued at $2,831,578.42. This represents a 11.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.80% of the stock is currently owned by corporate insiders.

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.