Short Interest in SLM Co. (NASDAQ:SLMBP) Increases By 71.2%

SLM Co. (NASDAQ:SLMBP) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 9,109 shares, a growth of 71.2% from the April 30th total of 5,321 shares. Based on an average trading volume of 2,752 shares, the days-to-cover ratio is currently 3.3 days.

Wall Street Analysts Forecast Growth

Separately, Bank of America restated a “buy” rating on shares of SLM in a report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, SLM has an average rating of “Moderate Buy” and a consensus target price of $40.00.

SLM Stock Performance

Shares of NASDAQ:SLMBP opened at $75.04 on Wednesday. SLM has a 1-year low of $70.58 and a 1-year high of $83.15. The company has a 50 day moving average price of $74.67 and a 200 day moving average price of $74.60.

SLM Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Thursday, June 4th will be paid a $1.4269 dividend. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $5.71 dividend on an annualized basis and a yield of 7.6%.

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.