Waterfall Asset Management LLC Buys Shares of 22,000 Regional Management Corp. (NYSE:RM)

Waterfall Asset Management LLC bought a new stake in Regional Management Corp. (NYSE:RM) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 22,000 shares of the credit services provider’s stock, valued at approximately $632,000. Regional Management comprises 0.4% of Waterfall Asset Management LLC’s holdings, making the stock its 21st biggest holding. Waterfall Asset Management LLC owned approximately 0.22% of Regional Management as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RM. Hancock Whitney Corp bought a new stake in shares of Regional Management during the second quarter valued at about $234,000. Tieton Capital Management LLC raised its stake in shares of Regional Management by 94.1% during 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 in the last quarter. Renaissance Technologies LLC raised its stake in shares of Regional Management by 0.9% during the second quarter. Renaissance Technologies LLC now owns 201,537 shares of the credit services provider’s stock valued at $5,792,000 after purchasing an additional 1,800 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Regional Management by 18.5% during 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 purchasing an additional 16,683 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Regional Management by 3.9% during the second quarter. Rhumbline Advisers now owns 12,430 shares of the credit services provider’s stock valued at $357,000 after purchasing an additional 463 shares in the last quarter. 98.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RM shares. BTIG Research started coverage on shares of Regional Management in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods lifted their target price on Regional Management from $28.00 to $33.00 and gave the stock a “market perform” rating in a report on Thursday, August 1st.

Regional Management Price Performance

NYSE:RM opened at $32.48 on Friday. The business’s 50-day moving average price is $31.41 and its 200 day moving average price is $28.24. The firm has a market cap of $321.42 million, a P/E ratio of 14.12 and a beta of 1.53. Regional Management Corp. has a 52-week low of $20.50 and a 52-week high of $34.15. The company has a quick ratio of 49.53, a current ratio of 49.53 and a debt-to-equity ratio of 3.98.

Regional Management (NYSE:RM) last released its earnings results on Wednesday, July 31st. The credit services provider reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.27. The firm had revenue of $143.03 million for the quarter, compared to analyst estimates of $143.13 million. Regional Management had a return on equity of 11.24% and a net margin of 4.37%. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, sell-side analysts predict that Regional Management Corp. will post 4.41 earnings per share for the current fiscal year.

Regional Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Wednesday, August 21st were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $1.20 dividend on an annualized basis and a yield of 3.69%. Regional Management’s dividend payout ratio is currently 52.17%.

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.