Renaissance Technologies LLC Boosts Stake in Regional Management Corp. (NYSE:RM)

Renaissance Technologies LLC boosted its holdings in shares of Regional Management Corp. (NYSE:RM) by 0.9% in the 2nd quarter, Holdings Channel reports. The fund owned 201,537 shares of the credit services provider’s stock after acquiring an additional 1,800 shares during the quarter. Renaissance Technologies LLC’s holdings in Regional Management were worth $5,792,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Empowered Funds LLC raised its position in Regional Management by 8.1% in the first quarter. Empowered Funds LLC now owns 36,939 shares of the credit services provider’s stock valued at $894,000 after purchasing an additional 2,767 shares during the period. BNP Paribas Financial Markets increased its position in shares of Regional Management by 53.4% during the first quarter. BNP Paribas Financial Markets now owns 3,974 shares of the credit services provider’s stock valued at $96,000 after acquiring an additional 1,383 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Regional Management by 3.1% in the 1st quarter. Vanguard Group Inc. now owns 443,851 shares of the credit services provider’s stock valued at $10,746,000 after acquiring an additional 13,414 shares during the period. Quadrature Capital Ltd lifted its holdings in shares of Regional Management by 7.5% in the 4th quarter. Quadrature Capital Ltd now owns 13,634 shares of the credit services provider’s stock worth $340,000 after acquiring an additional 957 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position 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 period. Institutional investors and hedge funds own 98.89% of the company’s stock.

Regional Management Stock Up 1.3 %

Shares of NYSE RM opened at $32.12 on Friday. Regional Management Corp. has a 12-month low of $20.50 and a 12-month high of $34.15. The stock has a market cap of $317.86 million, a P/E ratio of 13.97 and a beta of 1.53. The company has a current ratio of 49.53, a quick ratio of 49.53 and a debt-to-equity ratio of 3.98. The business’s fifty day simple moving average is $31.60 and its 200-day simple moving average is $28.45.

Regional Management (NYSE:RM) last announced its quarterly earnings data on Wednesday, July 31st. The credit services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.27. Regional Management had a return on equity of 11.24% and a net margin of 4.37%. The business had revenue of $143.03 million during the quarter, compared to analysts’ expectations of $143.13 million. During the same quarter last year, the business posted $0.63 EPS. As a group, equities analysts predict that Regional Management Corp. will post 4.41 EPS for the current fiscal year.

Regional Management Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Wednesday, August 21st were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Wednesday, August 21st. Regional Management’s dividend payout ratio (DPR) is presently 52.17%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RM. Keefe, Bruyette & Woods boosted their price objective on Regional Management from $28.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, August 1st. BTIG Research assumed coverage on shares of Regional Management in a research note on Friday, June 7th. They issued a “neutral” rating for the company.

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 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.