Ultime notizie per Regional Mgmt (NYSE:RM) Azioni

Regional Mgmt

Regional Management Corp is a diversified consumer finance company that provides installment loan products to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders. It is engaged in consumer finance. The company has the core products which are small and large installment loans. The company also offers optional payment and collateral protection insurance. The company's principal source of revenue is interest and fee income on outstanding loans.

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Regional Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RM#NYSE">RM</a>) reported quarterly earnings of $0.76 per share which missed the analyst consensus estimate of $1.05 by 27.62 percent. The company reported quarterly sales of $146.338 million which beat the analyst consensus estimate of $144.375 million by 1.36 percent. This is a 3.88 percent increase over sales of $140.878 million the same period last year.

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Regional Mgmt Q3 2024 GAAP EPS $0.76 Misses $1.05 Estimate, Sales $146.338M Beat $144.375M Estimate

Stocks held by <a href="https://www.benzinga.com/top-stories/24/07/39677935/credit-card-debt-rises-as-consumers-face-higher-costs-of-living">consumer-lending firms</a> fell last week after Wall Street executives warned of lower-income borrowers&#8217; struggling to pay bills.
What Happened: Banking executives at a recent Barclays conference in New York noted how delinquencies are on the rise, the Wall Street Journal <a href="https://www.wsj.com/finance/americans-credit-debt-spending-interest-rates-f3836f23">reported</a>.
The average interest rate on a credit card as of May was 21.51%, up from around 15% in 2019, Federal Reserve data shows.
About 9.1% of credit card balances turned delinquent over the past 12 months to mark the highest rate in over a decade, according to an August report from the Federal Reserve Bank of New York.
"What that tells you is if people do get behind on their payments in this environment, it's tougher to get out of them," TD Cowen analyst Moshe Orenbuch said.
Read Also: &#8216;<a href="https://www.benzinga.com/real-estate/24/08/40666981/the-time-has-come-to-adjust-cheaper-mortgage-rates-could-be-just-weeks-away-but-it-all-hinges-on-thi">The Time Has Come to Adjust&#8217; — Cheaper Mortgage Rates Could Be Just Weeks Away, But It All Hinges On This Data</a>
Why It Matters: Bread Financial, a credit card company that serves lower-income borrowers, said it expects higher charge-off rates — balances that banks write off as a result of lack of payments — this year.
Late payments and charge-offs on auto loans were higher than expected in July and August as borrowers grapple with the cost of living and a worsening labor market, Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>) CFO Russ Hutchinson said.
This worried investors because car payments are usually the last bills to go delinquent because cars are needed for transportation.
The average interest rate on a 60-month loan for a new car was 8.2% as of May, according to Fed data, up from 5.3% in 2019.&nbsp;
Over the past year, roughly 8% of auto loans turned delinquent, according to the New York Fed, the highest rate in over a decade. 
Price Action: Consumer-lending companies trended upward into Tuesday&#8217;s early afternoon trading.
<ul>
<li>Enova International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENVA#NYSE">ENVA</a>) rose 3.48% to $83.32</li>
<li>Qifu Techhnology, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QFIN#NASDAQ">QFIN</a>) gained 1.02% to $25.17</li>
<li>Regional Management Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RM#NYSE">RM</a>) went up 2.4% to $33.25</li>
</ul>
Car-loan providers also rose on Tuesday.
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<li>Bank of America Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) inched up 0.93% to $39.47</li>
<li>Ally Financial gained 2.42% to $33.83</li>
<li>Capital One Financial Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>) picked up 3.13% to $145.36</li>
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Not Paying Your Bills? Wall Street Worries That Too Many Credit Card Balances Are Turning Delinquent

Shares of Regional Management Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rm#NYSE">RM</a>) have declined 2.5% since it reported second-quarter 2024 results on Jul 31, after the closing bell. The strong second-quarter earnings were supported by an increase in interest and fee income and improved efficiency in its branches. However, the positives were partly offset by higher expenses and lower insurance income.
It reported second-quarter 2024 adjusted earnings per share of 86 cents, which beat the Zacks Consensus Estimate by 45.8%. The bottom line increased 36.5% year over year.
RM&#39;s total revenues climbed 7.1% year over year to $143 million. The top line missed the consensus mark by only 0.1%.
<div class="chart_embed">
<h3>Regional Management Corp. Price, Consensus and EPS Surprise</h3>
<img alt="Regional Management Corp. Price, Consensus and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/e8/1723643109.png" style="border-style:solid; border-width:1px; height:310px; width:600px" title="" />
Regional Management Corp. price-consensus-eps-surprise-chart | Regional Management Corp. Quote
</div>
<h3>Operational Update</h3>
Interest and fee income increased 8.3% year over year to $127.9 million, which beat the Zacks Consensus Estimate by 0.5%. Net insurance income of $10.5 million fell 6.2% in the second quarter and missed the consensus mark by 8.6%. Other income of $4.6 million grew 10.1% year over year but missed the consensus mark by 4.4%.
Provision for credit losses rose by 2.4% year over year to $53.8 million.
Total general and administrative expenses rose by 5.7% in the second quarter to $60.1 million due to higher personnel, marketing and other costs. The efficiency ratio, which depicts the general and administrative expenses as a percentage of revenues, was at 42% in the second quarter, down from 42.6% a year ago. It was much lower than the Zacks Consensus Estimate of 43.1%. Interest expenses increased 10.1% year over year to $17.9 million in the quarter under review.
Regional Management recorded a net income of $8.4 million in the second quarter of 2024 compared to a net income of $6 million a year ago.
At the end of the second quarter, net finance receivables were at $1.8 billion, up 5% from a year ago. While small loans rose 13.7% year over year to $505.6 million, large loans jumped 2.3% to $1.3 billion. It had 343 branches at the second-quarter end, with net finance receivables per branch at $5.2 million, up 6.2% year over year. This indicates rising efficiency in its branches.
The company recorded total loan originations of $426.1 million during the June quarter, which rose 6.8% year over year because of controlled growth from credit-tightening actions.
<h3>Financial Position (as of Jun 30, 2024)</h3>
Regional Management exited the second quarter with total assets of $1.79 billion, almost flat from 2023-end. The cash amount fell to $4.3 million from $4.5 million at 2023-end.
Net debt fell from $1.399 billion at 2023-end to $1.378 billion. Total liabilities of $1.44 billion at the second-quarter end were lower than $1.47 billion at 2023 end. Total shareholders&#39; equity rose from $322.3 million at 2023-end to $344.9 million.
<h3>Dividend Update</h3>
For the third quarter of 2024, Regional Management announced a dividend of 30 cents per share, which will be paid on Sep 12 &nbsp;to shareholders of record as of Aug 21.
<h3>Future View</h3>
The company expects to improve credit losses in the second half of 2024. It will boost investments in strategic initiatives and portfolio growth. It plans to open 10 new branch locations by the year-end.
Ending Net Finance Receivables are expected to grow around 6% in 2024, while the third quarter is likely to see a growth of $48 million. It expects general and administrative expenses for 2024 to be around $250 million, up from $243.1 million in 2023. For the third quarter, the metric is expected to be around $64.5 million.
RM foresees about 60-70 basis points year-over-year growth in total revenue yield for 2024. It anticipates the effective tax rate to be within 24-25% for the full year. The company expects a full-year 2024 net income within the $41-$44 million range.
<h3>Zacks Rank &amp; Key Picks</h3>
Regional Management currently has a Zacks Rank #3 (Hold).
Investors interested in the broader&nbsp;Finance space may look at some better-ranked players like Jackson Financial Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jxn#NYSE">JXN</a>), WisdomTree, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wt#NYSE">WT</a>) and&nbsp;HIVE Digital Technologies Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hive#NASDAQ">HIVE</a>). While Jackson Financial currently sports a Zacks Rank #1 (Strong Buy), WisdomTree and HIVE Digital carry a Zacks Rank #2 (Buy) each.
The Zacks Consensus Estimate for Jackson Financial&#39;s current-year earnings is pegged at $18.49 per share, which indicates 44% year-over-year growth. It witnessed two upward estimate revisions in the past 30 days against no downward movement. The consensus mark for JXN&#39;s current year revenues suggests a 116.7% surge from a year ago.
The Zacks Consensus Estimate for WisdomTree&#39;s 2024 earnings indicates 64.9% year-over-year growth. During the past month, WT has witnessed three upward estimate revisions against none in the opposite direction. It beat earnings estimates twice in the past four quarters and met on the other occasions, with an average surprise of 5.9%.
The Zacks Consensus Estimate for HIVE Digital&#39;s current-year earnings suggests a 34.6% year-over-year improvement. During the past month, HIVE has witnessed one upward estimate revision against none in the opposite direction. The consensus mark for current-year revenues is pegged at $127.2 million, indicating an 11.1% increase from a year ago.
<a href="https://www.zacks.com/stock/news/2322189/regional-management-rm-declines-2-5-despite-q2-earnings-beat?cid=CS-BENZ-FT-analyst_blog|earnings_article-2322189">To read this article on Zacks.com click here.</a>

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Regional Management Declines 2.5% Despite Q2 Earnings Beat

Keefe, Bruyette &amp; Woods analyst Sanjay Sakhrani maintains Regional Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RM#NYSE">RM</a>) with a Market Perform and raises the price target from $28 to $33.

Price Target

Keefe, Bruyette & Woods Maintains Market Perform on Regional Mgmt, Raises Price Target to $33

Regional Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RM#NYSE">RM</a>) reported quarterly earnings of $0.86 per share which beat the analyst consensus estimate of $0.68 by 26.47 percent. The company reported quarterly sales of $143.025 million which beat the analyst consensus estimate of $138.644 million by 3.16 percent. This is a 7.15 percent increase over sales of $133.484 million the same period last year.

Regional Mgmt Q2 2024 GAAP EPS $0.86 Beats $0.68 Estimate, Sales $143.025M Beat $138.644M Estimate

BTIG analyst Vincent Caintic initiates coverage on Regional Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RM#NYSE">RM</a>) with a Neutral rating.

Initiation

BTIG Initiates Coverage On Regional Mgmt with Neutral Rating

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<li>DraftKings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) shares decreased 14.82% after the Illinois Senate approved a 2025 budget that <a href="https://www.benzinga.com//node/39038493" target="_blank" rel="noreferrer noopener">includes a sports betting tax hike</a>.</li>
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<li>Samsara Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IOT#NYSE">IOT</a>) shares declined 13.77%.</li>
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Salesforce And Celsius Were Among The 10 Biggest Large Cap Losers Last Week: Are These In Your Portfolio?

Although U.S. stocks closed mixed on Wednesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#8217;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/">Benzinga&#8217;s insider transactions</a> platform.
<h3 class="wp-block-heading">American Homes 4 Rent</h3>
<ul>
<li>The Trade: American Homes 4 Rent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMH#NYSE">AMH</a>) Director Jack E Corrigan <a href="https://www.benzinga.com/quote/AON/analyst-ratings">acquired a total of 10,000 shares</a> at an average price of $22.72. To acquire these shares, it cost around $227,776.</li>
<li>What's Happening: On May 2, American Homes 4 Rent posted better-than-expected quarterly sales.</li>
<li>What American Homes 4 Rent Does: American Homes 4 Rent is a real estate investment trust primarily focused on acquiring, operating, and leasing single-family homes as rental properties throughout the United States.</li>
</ul>
<h3 class="wp-block-heading">Regional Management</h3>
<ul>
<li>The Trade: Regional Management Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RM#NYSE">RM</a>) 10% owner Basswood Financial Long Only Fund, L.P. acquired a total of 72,546 shares at an average price of $30.16. To acquire these shares, it cost around $2.19 million.</li>
<li>What's Happening: On May 1, Regional Management reported better-than-expected first-quarter financial results.</li>
<li>What Regional Management Does: Regional Management Corp is a diversified consumer finance company that provides installment loan products to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other lenders.</li>
</ul>
Don&#8217;t forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
<h3 class="wp-block-heading">Vestis</h3>
<ul>
<li>The Trade: Vestis Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VSTS#NYSE">VSTS</a>) 10% owner Keith A. Meister <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 3,446,655 shares</a> at an average price of $9.96. To acquire these shares, it cost around $34.32 million.</li>
<li>What's Happening: On May 7, Redburn Atlantic analyst Oliver Davies downgraded Vestis from Buy to Neutral.</li>
<li>What Vestis Does: Vestis Corp is a provider of uniform rentals and workplace supplies across the United States and Canada.</li>
</ul>
<h3 class="wp-block-heading">TriMas</h3>
<ul>
<li>The Trade: TriMas Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRS#NASDAQ">TRS</a>) Director Herbert K Parker <a href="https://www.benzinga.com/sec/insider-trades/">bought a total of 18,100 shares</a> at an average price of $26.27. The insider spent around $475,446 to buy those shares.</li>
<li>What's Happening: On April 30, TriMas reported better-than-expected first-quarter financial results.</li>
<li>What TriMas Does: TriMas Corp is a United States-based company that designs, manufactures, and distributes engineered and applied products.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38699603/top-2-financial-stocks-that-may-fall-off-a-cliff-in-may">Top 2 Financial Stocks That May Fall Off A Cliff In May</a>

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Over $34M Bet On This Industrial Stock? Check Out These 4 Stocks Insiders Are Buying

Keefe, Bruyette &amp; Woods analyst Sanjay Sakhrani maintains Regional Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RM#NYSE">RM</a>) with a Market Perform and raises the price target from $26 to $28.

Keefe, Bruyette & Woods Maintains Market Perform on Regional Mgmt, Raises Price Target to $28

WIIM

Regional Management shares are trading higher after the company reported better-than-expected Q1 financial results.

Regional Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RM#NYSE">RM</a>) reported quarterly earnings of $1.56 per share which beat the analyst consensus estimate of $0.88 by 77.27 percent. This is a 73.33 percent increase over earnings of $0.90 per share from the same period last year. The company reported quarterly sales of $144.308 million which beat the analyst consensus estimate of $140.046 million by 3.04 percent. This is a 6.60 percent increase over sales of $135.378 million the same period last year.

Regional Mgmt Q1 2024 GAAP EPS $1.56 Beats $0.88 Estimate, Sales $144.308M Beat $140.046M Estimate

Stephens &amp; Co. analyst Vincent Caintic reiterates Regional Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RM#NYSE">RM</a>) with a Equal-Weight and maintains $30 price target.

Reiteration

Stephens & Co. Reiterates Equal-Weight on Regional Mgmt, Maintains $30 Price Target

Regional Mgmt (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RM#NYSE">RM</a>) reported quarterly earnings of $0.54 per share which beat the analyst consensus estimate of $0.43 by 25.58 percent. The company reported quarterly sales of $141.66 million which missed the analyst consensus estimate of $141.95 million by 0.21 percent. This is a 7.30 percent increase over sales of $132.02 million the same period last year.

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