Geode Capital Management LLC Boosts Stake in Regional Management Corp. (NYSE:RM)

Geode Capital Management LLC lifted its holdings in Regional Management Corp. (NYSE:RM) by 3.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 191,823 shares of the credit services provider’s stock after acquiring an additional 6,288 shares during the quarter. Geode Capital Management LLC’s holdings in Regional Management were worth $6,276,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Regional Management during the third quarter worth about $105,000. Allspring Global Investments Holdings LLC increased its stake in shares of Regional Management by 81,883.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,919 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 4,913 shares during the last quarter. Summit Global Investments bought a new stake in shares of Regional Management in the 3rd quarter worth approximately $209,000. PDT Partners LLC purchased a new position in Regional Management in the third quarter valued at approximately $213,000. Finally, Hancock Whitney Corp bought a new position in Regional Management during the second quarter valued at $234,000. 98.89% of the stock is owned by institutional investors.

Insider Transactions at Regional Management

In other news, CEO Robert William Beck sold 7,104 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $32.55, for a total value of $231,235.20. Following the transaction, the chief executive officer now owns 103,443 shares of the company’s stock, valued at approximately $3,367,069.65. This represents a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Catherine R. Atwood sold 1,128 shares of Regional Management stock in a transaction on Friday, December 6th. The shares were sold at an average price of $33.00, for a total value of $37,224.00. Following the sale, the senior vice president now directly owns 42,025 shares of the company’s stock, valued at $1,386,825. This represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 10.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stephens started coverage on Regional Management in a research report on Wednesday, November 13th. They set an “overweight” rating and a $38.00 price target on the stock.

Regional Management Stock Performance

NYSE RM opened at $33.90 on Friday. The firm has a market cap of $344.53 million, a P/E ratio of 14.24 and a beta of 1.50. The company has a quick ratio of 44.42, a current ratio of 44.42 and a debt-to-equity ratio of 3.94. The company’s 50 day moving average is $31.75 and its 200-day moving average is $30.98. Regional Management Corp. has a 12-month low of $20.50 and a 12-month high of $35.24.

Regional Management Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Thursday, November 21st were given a dividend of $0.30 per share. The ex-dividend date was Thursday, November 21st. This represents a $1.20 annualized dividend and a dividend yield of 3.54%. Regional Management’s dividend payout ratio is currently 50.42%.

Regional Management Company 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.