State Street Corp Increases Stake in Regional Management Corp. (NYSE:RM)

State Street Corp lifted its position in Regional Management Corp. (NYSE:RM) by 0.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,572 shares of the credit services provider’s stock after acquiring an additional 971 shares during the quarter. State Street Corp owned 1.50% of Regional Management worth $4,991,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. PDT Partners LLC purchased a new position in shares of Regional Management in the 3rd quarter valued at $213,000. FMR LLC grew its stake in Regional Management by 34.1% in the third quarter. FMR LLC now owns 31,384 shares of the credit services provider’s stock valued at $1,027,000 after purchasing an additional 7,985 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Regional Management by 11.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 23,513 shares of the credit services provider’s stock worth $769,000 after purchasing an additional 2,406 shares in the last quarter. Empowered Funds LLC raised its holdings in Regional Management by 5.1% in the third quarter. Empowered Funds LLC now owns 41,649 shares of the credit services provider’s stock worth $1,362,000 after purchasing an additional 2,010 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Regional Management during the third quarter valued at about $338,000. 98.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Regional Management Trading Down 2.6 %

Shares of NYSE:RM opened at $33.72 on Monday. The company has a debt-to-equity ratio of 3.94, a current ratio of 44.42 and a quick ratio of 44.42. The firm has a market capitalization of $342.70 million, a P/E ratio of 14.17 and a beta of 1.52. The business’s 50-day moving average is $31.36 and its 200 day moving average is $30.78. Regional Management Corp. has a 1 year low of $20.50 and a 1 year high of $35.24.

Regional Management Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Investors of record on Thursday, November 21st were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 3.56%. The ex-dividend date of this dividend was Thursday, November 21st. Regional Management’s payout ratio is currently 50.42%.

Insider Buying and Selling

In related news, CEO Robert William Beck sold 7,104 shares of Regional Management stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $32.55, for a total transaction of $231,235.20. Following the completion of the sale, the chief executive officer now owns 103,443 shares of the company’s stock, valued at $3,367,069.65. The trade was a 6.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Catherine R. Atwood sold 1,128 shares of the 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 transaction, the senior vice president now owns 42,025 shares in the company, valued at approximately $1,386,825. This trade represents a 2.61 % decrease in their position. The disclosure for this sale can be found here. 10.50% of the stock is owned by company insiders.

Regional Management 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.