Geode Capital Management LLC Has $6.28 Million Stock Position in Regional Management Corp. (NYSE:RM)

Geode Capital Management LLC grew its position in shares of Regional Management Corp. (NYSE:RM) by 3.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 191,823 shares of the credit services provider’s stock after purchasing an additional 6,288 shares during the quarter. Geode Capital Management LLC owned approximately 1.89% of Regional Management worth $6,276,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RM. Tieton Capital Management LLC increased its holdings in Regional Management by 94.1% in the second quarter. Tieton Capital Management LLC now owns 207,390 shares of the credit services provider’s stock valued at $5,960,000 after purchasing an additional 100,560 shares during the period. Waterfall Asset Management LLC bought a new stake in shares of Regional Management in the 2nd quarter valued at about $632,000. American Century Companies Inc. increased its stake in shares of Regional Management by 18.5% in the second quarter. American Century Companies Inc. now owns 106,773 shares of the credit services provider’s stock valued at $3,069,000 after buying an additional 16,683 shares during the period. Marshall Wace LLP bought a new position in shares of Regional Management during the second quarter worth about $366,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Regional Management in the third quarter worth approximately $338,000. 98.89% of the stock is currently owned by institutional investors.

Regional Management Stock Performance

Shares of Regional Management stock opened at $33.90 on Friday. The business has a 50-day moving average price of $31.75 and a two-hundred day moving average price of $30.98. Regional Management Corp. has a 1-year low of $20.50 and a 1-year high of $35.24. The company has a current ratio of 44.42, a quick ratio of 44.42 and a debt-to-equity ratio of 3.94. The company has a market cap of $344.53 million, a P/E ratio of 14.24 and a beta of 1.50.

Regional Management Dividend Announcement

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

Insider Buying and Selling at Regional Management

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

Wall Street Analysts Forecast Growth

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

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.