Short Interest in SLM Co. (NASDAQ:SLMBP) Drops By 79.0%

SLM Co. (NASDAQ:SLMBP) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totaling 6,585 shares, a decrease of 79.0% from the December 31st total of 31,311 shares. Based on an average daily trading volume, of 3,134 shares, the short-interest ratio is currently 2.1 days. Based on an average daily trading volume, of 3,134 shares, the short-interest ratio is currently 2.1 days.

SLM Stock Down 1.7%

SLMBP stock traded down $1.29 during mid-day trading on Thursday, reaching $73.71. 14,316 shares of the company traded hands, compared to its average volume of 4,159. SLM has a 52-week low of $65.50 and a 52-week high of $83.15. The company has a fifty day moving average price of $74.20 and a 200-day moving average price of $75.19.

SLM Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Thursday, March 5th will be given a dividend of $1.4327 per share. This represents a $5.73 dividend on an annualized basis and a dividend yield of 7.8%. The ex-dividend date is Thursday, March 5th.

Analyst Ratings Changes

Several research firms recently weighed in on SLMBP. Keefe, Bruyette & Woods restated a “market perform” rating on shares of SLM in a research report on Wednesday, December 10th. TD Cowen reissued a “buy” rating on shares of SLM in a research report on Friday, December 5th. Finally, UBS Group set a $40.00 target price on SLM in a research note on Friday, December 5th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.00.

About SLM

SLM Corporation, doing business as Sallie Mae, is a U.S.-based provider of private student loans, servicing, and banking products. The company specializes in originating and servicing education loans for undergraduate, graduate and professional students, as well as career and technical training programs. In addition to its core student lending business, Sallie Mae offers deposit products, credit cards and digital tools designed to help customers manage personal finances and plan for higher-education expenses.

Sallie Mae’s product suite includes fixed- and variable-rate private student loans, graduate student loans, parent loans and career training loans.