Regional Management (NYSE:RM) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Regional Management (NYSE:RM) from a hold rating to a buy rating in a report released on Tuesday, Zacks.com reports. The brokerage currently has $30.00 target price on the credit services provider’s stock.

According to Zacks, “Regional Management Corp. is a diversified specialty consumer finance company engaged in providing loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. It offers Small Installment Loans, Large Installment Loans, Automobile Purchase Loans, Furniture and Appliance Purchase Loans and Insurance Products. The Company has operations primarily in South Carolina, Texas, North Carolina, Tennessee and Alabama. Regional Management Corp. is headquartered in Greenville, South Carolina. “

Other research analysts also recently issued reports about the company. Janney Montgomery Scott raised Regional Management from a neutral rating to a buy rating in a research note on Thursday, May 9th. ValuEngine raised Regional Management from a strong sell rating to a sell rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Regional Management presently has a consensus rating of Hold and an average price target of $32.00.

NYSE RM opened at $26.85 on Tuesday. The business has a fifty day moving average price of $26.31 and a 200 day moving average price of $25.85. Regional Management has a one year low of $22.90 and a one year high of $35.00. The company has a debt-to-equity ratio of 2.44, a quick ratio of 48.69 and a current ratio of 48.69. The company has a market cap of $313.33 million, a P/E ratio of 8.47 and a beta of 0.93.

Regional Management (NYSE:RM) last posted its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.05. Regional Management had a return on equity of 13.37% and a net margin of 10.59%. The firm had revenue of $84.27 million during the quarter, compared to the consensus estimate of $80.50 million. As a group, sell-side analysts predict that Regional Management will post 3.43 EPS for the current fiscal year.

In related news, Director Basswood Partners, L.L.C. bought 62,155 shares of the business’s stock in a transaction on Tuesday, May 28th. The stock was acquired at an average cost of $24.03 per share, with a total value of $1,493,584.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Robert William Beck bought 5,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $25.99 per share, with a total value of $129,950.00. Following the completion of the purchase, the chief financial officer now directly owns 13,875 shares in the company, valued at $360,611.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 213,101 shares of company stock valued at $5,360,791 and sold 26,524 shares valued at $726,507. 9.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of RM. Bank of Montreal Can grew its holdings in shares of Regional Management by 203.4% during the 2nd quarter. Bank of Montreal Can now owns 1,174 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 787 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of Regional Management by 210.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,948 shares of the credit services provider’s stock worth $48,000 after purchasing an additional 1,321 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in shares of Regional Management by 358.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,845 shares of the credit services provider’s stock worth $92,000 after purchasing an additional 3,007 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Regional Management during the 2nd quarter worth $276,000. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of Regional Management by 5.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 19,187 shares of the credit services provider’s stock worth $506,000 after purchasing an additional 917 shares during the period. 90.83% of the stock is owned by institutional investors and hedge funds.

About Regional Management

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 traditional lenders. The company offers small and large installment loans; loans to finance the purchase of furniture, appliances, and other retail products; insurance products, including credit life, credit accident and health, credit property, vehicle single interest, and credit involuntary unemployment insurance; collateral protection insurance; and property insurance, as well as reinsurance products.

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