Regional Mgmt Corp Stock Price, News & Analysis

Regional Management Corp. (NYSE: RM) has successfully completed its largest asset-backed securitization to date, totaling $250 million. This eighth securitization saw a weighted average coupon of 3.59% and was secured by $265 million of receivables. Notably, the senior class of notes achieved a AAA rating from DBRS, marking the first instance of such a rating for Regional Management. The company highlights that over 90% of its debt now carries a fixed rate, enhancing its financial stability and reducing interest rate risk.

Regional Management Corp. (NYSE: RM) reported a net income of $20.8 million with diluted earnings per share of $2.04 for Q4 2021, marking growth of 44.8% and 59.4%, respectively, year-over-year. The company achieved record revenues of $119 million, a 22.6% increase, and net finance receivables reached $1.4 billion, a rise of 25.5%.

The company also increased its quarterly dividend by 20% to $0.30 per share and announced a $20 million stock repurchase program. Despite an increase in credit loss provisions, RM's credit profile remains strong, with delinquencies improving compared to 2019.

Regional Management Corp. (NYSE: RM) announced the appointment of Philip Bancroft as a new member of its Board of Directors. With a strong background as the former CFO of Chubb (NYSE: CB) and extensive experience in financial and risk management, Bancroft's addition increases the board's size to nine members. His expertise is expected to enhance Regional's financial capabilities and support ongoing digital growth initiatives. The announcement signifies a strategic move to bolster leadership as the company continues to expand its market presence.

Regional Management Corp. (NYSE: RM) will release its fourth quarter 2021 results on February 9, 2022, after market close. A conference call to discuss these results is scheduled for 5:00 PM ET the same day, with a live webcast available on their website. Interested participants can dial in at (855) 327-6837 or (631) 891-4304. The company, operating approximately 350 branches across 13 states, specializes in consumer finance, providing secure installment loans primarily to customers with limited access to traditional credit.

Regional Management Corp. (NYSE: RM) announced that its President and CEO, Robert W. Beck, along with CFO Harp Rana, will participate in a fireside chat at the Stephens Annual Investment Conference on December 1, 2021, at 1:00 PM Central Time. Investors interested in the event can listen to the webcast via the company’s investor relations website. Regional Management Corp. provides installment loans primarily to consumers with limited access to credit, operating over 340 branches across 13 states, with a focus on secured, fixed-rate loan products.

Regional Management Corp. has achieved a major milestone by migrating 100% of its workloads to VMware Cloud, transitioning from on-premises data centers in under six months. This strategic move enhances the company's operational resilience and agility, aligning with its omni-channel growth strategy. The partnership with Deloitte and VMware improves infrastructure, minimizes downtime, and supports innovation in customer experience. Joseph Manavalan, the CTO, emphasizes that this cloud transition allows the company to focus on delivering better value and innovation for customers while retaining top engineering talent.

Regional Management Corp. (RM) reported a net income of $22.2 million with diluted earnings per share of $2.11 for Q3 2021, reflecting a 23.1% year-over-year revenue growth. The company achieved record loan originations of $420.7 million, with finance receivables totaling $1.3 billion. Delinquencies remained stable at 4.7%, well below the allowance for credit losses of $150.1 million. The company plans to expand operations to 5-7 states by 2022 and has raised its full-year income outlook to between $85 million and $87 million.

Regional Management Corp. (NYSE: RM) has successfully closed a $125 million private asset-backed securitization with a large institutional investor, featuring a fixed coupon rate of 3.875%. This transaction enhances the company’s capital structure by providing fixed-rate funding for five years, allowing for the reduction of variable-rate debt. With 87% of its long-term debt now fixed rate and a weighted average cost of 2.7%, the company is poised for sustainable growth and increased returns for shareholders.

Regional Management Corp. (NYSE: RM) will report its third quarter 2021 results on November 2, 2021, after market close. A conference call is scheduled for 5:00 PM ET the same day, with a live webcast available on the company’s website. The toll-free dial-in for the call is (855) 327-6837. A replay will be accessible for one year.

Regional Management, operating over 360 branches in 13 states, specializes in consumer finance through installment loans for customers with limited access to traditional credit sources.