Regional Management Corp. Declares Quarterly Dividend of $0.30 (NYSE:RM)

Regional Management Corp. (NYSE:RM) declared a quarterly dividend on Wednesday, July 29th. Investors of record on Wednesday, August 19th will be paid a dividend of 0.30 per share by the credit services provider on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Wednesday, August 19th.

Regional Management has increased its dividend by an average of 0.4%per year over the last three years. Regional Management has a payout ratio of 18.3% indicating that its dividend is sufficiently covered by earnings.

Regional Management Stock Performance

Shares of RM opened at $42.26 on Thursday. The company has a current ratio of 59.88, a quick ratio of 59.88 and a debt-to-equity ratio of 4.30. The firm’s fifty day simple moving average is $39.25 and its two-hundred day simple moving average is $36.57. Regional Management has a 12 month low of $30.46 and a 12 month high of $46.00. The stock has a market capitalization of $389.19 million, a P/E ratio of 8.57 and a beta of 1.01.

Regional Management (NYSE:RM) last posted its quarterly earnings data on Wednesday, July 29th. The credit services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The firm had revenue of $168.01 million during the quarter, compared to analyst estimates of $165.69 million. Regional Management had a return on equity of 13.16% and a net margin of 7.40%.

Insider Buying and Selling

In other news, CAO Steven B. Barnette sold 3,274 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $43.30, for a total value of $141,764.20. Following the completion of the sale, the chief accounting officer directly owned 13,472 shares of the company’s stock, valued at $583,337.60. This represents a 19.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sandra K. Johnson sold 1,000 shares of Regional Management stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $36.00, for a total value of $36,000.00. Following the transaction, the director directly owned 21,933 shares in the company, valued at approximately $789,588. The trade was a 4.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 8,874 shares of company stock worth $350,208 in the last quarter. Insiders own 10.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RM. LSV Asset Management grew its holdings in shares of Regional Management by 7.7% in the fourth quarter. LSV Asset Management now owns 338,832 shares of the credit services provider’s stock valued at $13,130,000 after acquiring an additional 24,232 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Regional Management during the 4th quarter valued at $25,000. SG Americas Securities LLC purchased a new position in shares of Regional Management in the fourth quarter worth about $112,000. Allspring Global Investments Holdings LLC grew its stake in Regional Management by 8.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 10,718 shares of the credit services provider’s stock valued at $421,000 after buying an additional 831 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Regional Management by 9.7% during the first quarter. Empowered Funds LLC now owns 60,709 shares of the credit services provider’s stock worth $1,958,000 after acquiring an additional 5,365 shares in the last quarter. 98.89% of the stock is owned by institutional investors.

Regional Management Company Profile

Regional Management Corp., headquartered in Wilmington, North Carolina, is a consumer finance company specializing in installment loan products for underbanked individuals. Since its founding in 1977, the company has developed a network of field-based branches alongside a digital platform to offer credit solutions in rural and small-town markets across the United States.

The company’s core offerings include consumer installment loans for everyday purchases, auto refinancing and lease buyouts, as well as ancillary services such as insurance referrals.