Regional Management (NYSE:RM) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Regional Management (NYSE:RM) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. They currently have $29.00 price target on the credit services provider’s stock.

According to Zacks, “Regional Management Corp. is a diversified specialty consumer finance company engaged in providing loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies and other traditional lenders. It offers Small Installment Loans, Large Installment Loans, Automobile Purchase Loans, Furniture and Appliance Purchase Loans and Insurance Products. The Company has operations primarily in South Carolina, Texas, North Carolina, Tennessee and Alabama. Regional Management Corp. is headquartered in Greenville, South Carolina. “

Several other equities research analysts have also weighed in on the company. ValuEngine upgraded Zuora from a hold rating to a buy rating in a research report on Saturday, July 6th. Janney Montgomery Scott lowered Avid Bioservices from a buy rating to a neutral rating and dropped their price target for the company from $10.00 to $5.00 in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. Regional Management currently has a consensus rating of Hold and an average price target of $32.50.

NYSE RM opened at $26.92 on Wednesday. The company has a quick ratio of 51.35, a current ratio of 51.35 and a debt-to-equity ratio of 2.25. Regional Management has a twelve month low of $22.90 and a twelve month high of $36.18. The company has a market capitalization of $317.47 million, a price-to-earnings ratio of 8.49 and a beta of 0.92. The company’s 50 day moving average price is $25.31.

Regional Management (NYSE:RM) last released its quarterly earnings results on Wednesday, May 8th. The credit services provider reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.12). Regional Management had a net margin of 11.02% and a return on equity of 13.80%. The firm had revenue of $81.75 million for the quarter, compared to the consensus estimate of $85.00 million. On average, research analysts predict that Regional Management will post 3.39 EPS for the current year.

In other news, Director Basswood Partners, L.L.C. purchased 62,155 shares of the company’s stock in a transaction that occurred on Tuesday, May 28th. The shares were bought at an average cost of $24.03 per share, for a total transaction of $1,493,584.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Basswood Capital Management, L acquired 68,977 shares of the stock in a transaction on Tuesday, May 28th. The shares were bought at an average price of $24.03 per share, with a total value of $1,657,517.31. The disclosure for this purchase can be found here. Insiders own 9.50% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Rhumbline Advisers raised its stake in Regional Management by 44.0% during the 4th quarter. Rhumbline Advisers now owns 12,483 shares of the credit services provider’s stock valued at $300,000 after purchasing an additional 3,814 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Regional Management by 18.7% in the 4th quarter. First Trust Advisors LP now owns 17,215 shares of the credit services provider’s stock valued at $414,000 after buying an additional 2,710 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of Regional Management by 6.5% in the 4th quarter. California Public Employees Retirement System now owns 42,565 shares of the credit services provider’s stock valued at $1,024,000 after buying an additional 2,588 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Regional Management by 6.4% in the 4th quarter. New York State Common Retirement Fund now owns 30,303 shares of the credit services provider’s stock valued at $729,000 after buying an additional 1,814 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Regional Management by 50.3% in the 4th quarter. BlackRock Inc. now owns 945,960 shares of the credit services provider’s stock valued at $22,751,000 after buying an additional 316,748 shares in the last quarter. Institutional investors and hedge funds own 87.05% of the company’s stock.

About Regional Management

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 traditional lenders. The company offers small and large installment loans; loans to finance the purchase of furniture, appliances, and other retail products; insurance products, including credit life, credit accident and health, credit property, vehicle single interest, and credit involuntary unemployment insurance; collateral protection insurance; and property insurance, as well as reinsurance products.

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