PNC Financial Services Group Inc. increased its stake in shares of SLM Corp. (NASDAQ:SLM) by 8.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,208 shares of the company’s stock after buying an additional 3,057 shares during the period. PNC Financial Services Group Inc.’s holdings in SLM Corp. were worth $242,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in SLM Corp. by 11.6% in the second quarter. Bank of New York Mellon Corp now owns 44,688,632 shares of the company’s stock valued at $276,176,000 after buying an additional 4,659,355 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of SLM Corp. by 2,293.4% in the first quarter. Royal Bank of Canada now owns 2,275,832 shares of the company’s stock worth $14,474,000 after buying an additional 2,180,745 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in shares of SLM Corp. during the second quarter worth about $9,656,000. Bank of Montreal Can acquired a new stake in shares of SLM Corp. during the second quarter worth about $9,100,000. Finally, Teachers Advisors Inc. boosted its stake in shares of SLM Corp. by 446.3% in the first quarter. Teachers Advisors Inc. now owns 1,796,317 shares of the company’s stock worth $11,425,000 after buying an additional 1,467,473 shares during the last quarter.
SLM Corp. (NASDAQ:SLM) traded up 1.77% on Friday, hitting $7.47. 2,499,750 shares of the stock were exchanged. SLM Corp. has a 52-week low of $5.09 and a 52-week high of $7.64. The company has a 50-day moving average price of $7.36 and a 200-day moving average price of $6.81. The firm has a market cap of $3.20 billion, a PE ratio of 13.58 and a beta of 1.08.
SLM Corp. (NASDAQ:SLM) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The business earned $212.76 million during the quarter, compared to analysts’ expectations of $216.48 million. SLM Corp. had a return on equity of 16.85% and a net margin of 24.53%. The business’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.20 earnings per share. On average, equities research analysts anticipate that SLM Corp. will post $0.52 EPS for the current fiscal year.
A number of brokerages have recently issued reports on SLM. TheStreet cut shares of SLM Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, September 6th. Compass Point boosted their target price on shares of SLM Corp. from $8.50 to $9.00 and gave the company a “buy” rating in a research report on Thursday, July 21st. Vetr raised shares of SLM Corp. from a “buy” rating to a “strong-buy” rating and set a $8.62 target price for the company in a research report on Wednesday, July 20th. Goldman Sachs Group Inc. raised shares of SLM Corp. from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, August 11th. Finally, Zacks Investment Research raised shares of SLM Corp. from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $9.14.
About SLM Corp.
SLM Corporation (Sallie Mae) is the nation’s saving, planning, and paying for college company. Sallie Mae offers products, which promote personal finance including private education loans, Upromise rewards, scholarship search, college financial planning tools, insurance, and online retail banking.
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