SLM (NASDAQ:SLMBP) Shares Down 0.1% – Here’s Why

SLM Co. (NASDAQ:SLMBP)’s share price traded down 0.1% on Wednesday . The company traded as low as $74.90 and last traded at $74.95. 2,637 shares traded hands during trading, a decline of 23% from the average session volume of 3,443 shares. The stock had previously closed at $75.00.

Analyst Upgrades and Downgrades

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

SLM Trading Down 0.4%

The firm’s fifty day moving average price is $74.77 and its two-hundred day moving average price is $74.60.

SLM Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Thursday, June 4th were given a $1.4269 dividend. This represents a $5.71 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Thursday, June 4th.

SLM Company Profile

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.