Basswood Capital Management, L sells 1,000 shares of Regional Management Corp. (NYSE:RM) Stock

Regional Management Corp. (NYSE:RM – Get Rating) Basswood Capital Management head L sold 1,000 shares in a trade that took place on Tuesday, November 22. The shares were sold at an average price of $29.59, for a total transaction of $29,590.00. Following completion of the transaction, the administrator now owns 610,553 shares of the company, valued at $18,066,263.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this link.

Basswood Capital Management, L has also recently completed the following transactions:

  • On Thursday November 17, Basswood Capital Management, L sold 63,093 shares of Regional Management. The shares were sold at an average price of $28.58, for a total transaction of $1,803,197.94.
  • On Monday, November 14, Basswood Capital Management, L sold 5,219 shares of Regional Management. The shares were sold at an average price of $31.00, for a total transaction of $161,789.00.
  • On Thursday, November 10, Basswood Capital Management, L sold 6,000 shares of Regional Management. The stock was sold at an average price of $32.02, for a total transaction of $192,120.00.
  • On Tuesday, November 8, Basswood Capital Management, L sold 29,135 shares of Regional Management. The stock was sold at an average price of $28.75, for a total transaction of $837,631.25.
  • On Monday, August 29, Basswood Capital Management, L sold 16,600 shares of Regional Management. The stock was sold at an average price of $35.63, for a total transaction of $591,458.00.
  • On Thursday, August 25, Basswood Capital Management, L sold 2,800 shares of Regional Management. The stock was sold at an average price of $38.07, for a total transaction of $106,596.00.

Regional management Trading down 0.8%

The regional management stock traded down $0.24 at midday Wednesday, hitting $29.08. The stock recorded trading volume of 22,660 shares, compared to an average volume of 38,429. Regional Management Corp. has a 12-month low of $27.42 and a 12-month high of $62.95. The company has a debt ratio of 3.99, a current ratio of 43.67 and a quick ratio of 43.67. The company has a market capitalization of $278.76 million, a price-earnings ratio of 4.15 and a beta of 1.48. The company’s fifty-day simple moving average is $29.85 and its two-hundred-day simple moving average is $36.38.

Regional management announces dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 14. Shareholders of record on Wednesday, November 23 will receive a dividend of $0.30. The ex-dividend date is Tuesday, November 22. This represents a dividend of $1.20 on an annualized basis and a yield of 4.13%. The Regional Division’s payout rate is 17.12%.

Analysts set new price targets

A number of brokerages have weighed in on RM recently. TheStreet upgraded regional management shares from a “b-” rating to a “c+” rating in a Wednesday, September 21 report. BMO Capital Markets cut its price target on regional leadership shares from $43.00 to $39.00 and set a “market performance” rating for the company in a Thursday, Nov. 3, report. Stephens cut his price target on regional leadership shares from $51.00 to $32.00 and set an “equal weight” rating for the company in a Wednesday, Nov. 2 research note. Finally, StockNews.com kicked off coverage on regional leadership stocks in a Wednesday, October 12 research note. They issued a “buy” rating for the company.

Institutional investors weigh on regional management

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. US Bancorp DE increased its equity stake in regional management by 1,923.4% during the 3rd quarter. US Bancorp DE now owns 1,295 shares of the credit service provider valued at $36,000 after buying an additional 1,231 shares last quarter. Amalgamated Bank bought a new position in Regional Management stock during Q1 worth $51,000. Quantbot Technologies LP increased its equity stake in Regional Management by 120.0% during the 1st quarter. Quantbot Technologies LP now owns 1,100 shares of the credit services provider valued at $53,000 after buying an additional 600 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Regional Management shares by 76.4% during the second quarter. BNP Paribas Arbitrage SA now owns 1,977 shares of the credit services provider valued at $74,000 after buying an additional 856 shares last quarter. Finally, Lazard Asset Management LLC increased its stake in Regional Management shares by 122.4% during the 2nd quarter. Lazard Asset Management LLC now owns 2,119 shares of the credit services provider valued at $79,000 after buying 1,166 additional shares last quarter. Hedge funds and other institutional investors hold 82.76% of the company’s shares.

About regional management

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Regional Management Corp., a diversified consumer finance company, offers 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.

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