Bank of New York Mellon Corp Purchases 11,486 Shares of Regional Management Corp. (RM)
Bank of New York Mellon Corp boosted its position in Regional Management Corp. (NYSE:RM) by 15.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,264 shares of the credit services provider’s stock after buying an additional 11,486 shares during the period. Bank of New York Mellon Corp owned approximately 0.73% of Regional Management Corp. worth $1,991,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. American International Group Inc. lifted its holdings in Regional Management Corp. by 7.1% in the first quarter. American International Group Inc. now owns 6,512 shares of the credit services provider’s stock valued at $127,000 after acquiring an additional 430 shares during the period. UBS Group AG lifted its holdings in Regional Management Corp. by 115.0% in the first quarter. UBS Group AG now owns 7,137 shares of the credit services provider’s stock valued at $138,000 after acquiring an additional 3,818 shares during the period. PNC Financial Services Group Inc. acquired a new position in Regional Management Corp. in the first quarter valued at approximately $165,000. Algert Global LLC acquired a new position in Regional Management Corp. in the second quarter valued at approximately $234,000. Finally, Eqis Capital Management Inc. acquired a new position in Regional Management Corp. in the second quarter valued at approximately $243,000. Hedge funds and other institutional investors own 86.75% of the company’s stock.
Regional Management Corp. (RM) opened at 24.45 on Monday. The firm has a market capitalization of $284.89 million, a P/E ratio of 10.74 and a beta of 1.37. Regional Management Corp. has a 52 week low of $18.31 and a 52 week high of $27.56. The stock’s 50 day moving average price is $23.44 and its 200 day moving average price is $22.30.
Regional Management Corp. (NYSE:RM) last announced its earnings results on Tuesday, August 1st. The credit services provider reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.06. Regional Management Corp. had a return on equity of 12.98% and a net margin of 10.37%. The company had revenue of $65.34 million for the quarter, compared to the consensus estimate of $65.00 million. During the same period last year, the business posted $0.49 EPS. The company’s revenue was up 14.0% on a year-over-year basis. On average, equities analysts expect that Regional Management Corp. will post $2.02 EPS for the current year.
A number of research analysts have issued reports on RM shares. Stephens started coverage on Regional Management Corp. in a report on Wednesday, August 23rd. They issued an “equal weight” rating and a $25.00 price target for the company. Zacks Investment Research downgraded Regional Management Corp. from a “hold” rating to a “sell” rating in a report on Friday, July 14th. BMO Capital Markets boosted their price target on Regional Management Corp. from $24.00 to $25.00 and gave the company a “market perform” rating in a report on Wednesday, August 2nd. DA Davidson reissued a “neutral” rating and issued a $27.00 price target on shares of Regional Management Corp. in a report on Tuesday, July 18th. Finally, BidaskClub downgraded Regional Management Corp. from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $25.83.
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About Regional Management Corp.
Regional Management Corp. is a diversified consumer finance company. The Company provides an array 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 payment and collateral protection insurance products.
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