Regional Management Corp. (RM) Sets New 1-Year High at $21.20
Regional Management Corp. (NYSE:RM)’s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $21.20 and last traded at $20.57, with a volume of 75,862 shares. The stock had previously closed at $20.73.
A number of equities research analysts have recently weighed in on RM shares. Zacks Investment Research lowered Regional Management Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, April 28th. BMO Capital Markets reissued a “buy” rating and issued a $26.00 target price on shares of Regional Management Corp. in a research note on Wednesday, July 27th. Jefferies Group reissued a “buy” rating on shares of Regional Management Corp. in a research note on Saturday, April 30th. Finally, Keefe, Bruyette & Woods boosted their target price on Regional Management Corp. from $17.50 to $19.00 and gave the company a “market perform” rating in a research note on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $21.20.
The firm has a market capitalization of $234.83 million and a price-to-earnings ratio of 10.53. The company’s 50-day moving average price is $18.69 and its 200-day moving average price is $16.69.
Regional Management Corp. (NYSE:RM) last released its quarterly earnings data on Tuesday, July 26th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.13. The business had revenue of $57.30 million for the quarter, compared to analysts’ expectations of $58.32 million. On average, equities research analysts forecast that Regional Management Corp. will post $2.02 earnings per share for the current fiscal year.
In other Regional Management Corp. news, major shareholder Glen Capital Partners Focus Fu sold 125,656 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $18.87, for a total transaction of $2,371,128.72. Following the completion of the sale, the insider now directly owns 1,217,038 shares in the company, valued at $22,965,507.06. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
An institutional investor recently raised its position in Regional Management Corp. stock. Schwab Charles Investment Management Inc. boosted its stake in shares of Regional Management Corp. (NYSE:RM) by 254.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,047 shares of the company’s stock after buying an additional 60,360 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.65% of Regional Management Corp. worth $1,301,000 as of its most recent SEC filing.
Regional Management Corp. is a diversified specialty consumer finance company. The Company provides a range of loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. Its products include small loans, large loans, automobile loans, retail loans and optional credit insurance products.
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