TIAA CREF Investment Management LLC held its stake in shares of Regional Management Corp. (NYSE:RM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,486 shares of the credit services provider’s stock at the close of the 2nd quarter. TIAA CREF Investment Management LLC owned 0.25% of Regional Management Corp. worth $697,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. American International Group Inc. lifted its position in shares of Regional Management Corp. by 7.1% in the 1st quarter. American International Group Inc. now owns 6,512 shares of the credit services provider’s stock worth $127,000 after purchasing an additional 430 shares during the period. UBS Group AG lifted its position in shares of Regional Management Corp. by 115.0% in the 1st quarter. UBS Group AG now owns 7,137 shares of the credit services provider’s stock worth $138,000 after purchasing an additional 3,818 shares during the period. PNC Financial Services Group Inc. purchased a new stake in shares of Regional Management Corp. in the 1st quarter worth approximately $165,000. Algert Global LLC purchased a new stake in shares of Regional Management Corp. in the 2nd quarter worth approximately $234,000. Finally, Eqis Capital Management Inc. purchased a new stake in Regional Management Corp. during the second quarter valued at approximately $243,000. 86.78% of the stock is owned by hedge funds and other institutional investors.
Regional Management Corp. (NYSE:RM) opened at $22.09 on Wednesday. The stock has a market cap of $262.74, a price-to-earnings ratio of 9.62 and a beta of 1.40. Regional Management Corp. has a fifty-two week low of $18.31 and a fifty-two week high of $27.56. The company has a quick ratio of 39.39, a current ratio of 39.39 and a debt-to-equity ratio of 2.34.
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A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Regional Management Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub cut shares of Regional Management Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. ValuEngine cut shares of Regional Management Corp. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 17th. BMO Capital Markets increased their target price on shares of Regional Management Corp. from $24.00 to $25.00 and gave the company a “market perform” rating in a research report on Wednesday, August 2nd. Finally, DA Davidson reissued a “neutral” rating and set a $27.00 target price on shares of Regional Management Corp. in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $25.83.
About Regional Management Corp.
Regional Management Corp. is a diversified consumer finance company. The Company provides an array of loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. Its products include small loans, large loans, automobile loans, retail loans, and optional payment and collateral protection insurance products.
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