In line with its business expansion strategy,
Regional Management Corp.
) inaugurated its first full-service locations in Georgia.
Regional Management Corp. will conduct its operations in the
Georgian cities of Savannah and Brunswick.
The new units represent the 224th and 225th locations of the
company. The units will provide all the services provided by
Regional Management Corp., which includes small and large
installment loans, automobile purchase loans, and furniture and
appliance loans. Regional Management Corp had previously forayed
into the Georgian market in Jan 2013, with a new AutoCredit
Source (:ACS) branch in Atlanta.
The new units in Georgia are in sync with the company's
strategy to open new facilities and acquire small-to-mid-sized
operations. Towards this end, Regional Management Corp. launched
an AutoCredit Source store in Austin, Texas in Jan 2013.
Through its extensive business expansion the company had
enhanced revenues. In 2012, revenues improved 29.3% year over
year from the year-ago numbers. We expect the new facilities to
bolster revenues further. The Zacks Consensus Estimate for the
first quarter of 2013 is pegged at $38 million.
Other operators in this area are also not sitting idle.
They are also expanding their operations. Towards business
Discover Financial Services
) also announced a long-term agreement with Nigeria-based
Interswitch Limited in Mar 2013. The deal allows Discover and
Diners Club International (:DCI) cards to be accepted at all ATMs
and point-of-sale (:POS) terminals at the Interswitch network in
One of its peers,
Security National Financial
) closed a coinsurance transaction in Dec 2012, with Mothe Life
Insurance located in Gretna, Louisiana and DLE Life Insurance
Company, located in Bogalusa, Louisiana. The deal will allow
Security National to expand its operations in Louisiana and the
Regional Management Corp. currently carries a Zacks Rank #4
(Sell). Other stocks like
Encore Capital Group Inc.
) and Discover carry a Zacks Rank #2 (Buy) and are worth
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