SLM (NASDAQ:SLM) PT Raised to $23.00

SLM (NASDAQ:SLM) had its price objective increased by JPMorgan Chase & Co. from $22.00 to $23.00 in a research note released on Thursday, Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

SLM has been the subject of several other research reports. Wedbush increased their price target on shares of SLM from $26.00 to $28.00 and gave the company an outperform rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of SLM in a research report on Wednesday, January 10th. They set a buy rating and a $25.00 price target for the company. TheStreet upgraded shares of SLM from a c+ rating to a b rating in a research report on Wednesday, January 24th. Royal Bank of Canada increased their price target on shares of SLM from $21.00 to $22.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company increased their price target on shares of SLM from $22.00 to $24.00 and gave the company an overweight rating in a research report on Thursday, April 18th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $21.32.

SLM Stock Performance

Shares of SLM stock opened at $21.90 on Thursday. The firm has a market capitalization of $4.82 billion, a PE ratio of 6.84, a price-to-earnings-growth ratio of 0.45 and a beta of 1.16. The firm has a fifty day simple moving average of $20.94 and a two-hundred day simple moving average of $18.30. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.67. SLM has a 12 month low of $12.26 and a 12 month high of $22.37.

SLM (NASDAQ:SLM) last posted its earnings results on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.18. SLM had a net margin of 25.15% and a return on equity of 45.65%. The firm had revenue of $837.72 million during the quarter, compared to analyst estimates of $376.43 million. During the same quarter in the prior year, the business posted $0.47 EPS. Analysts forecast that SLM will post 2.7 EPS for the current fiscal year.

SLM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, June 6th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, June 5th. SLM’s dividend payout ratio (DPR) is presently 13.75%.

SLM announced that its board has approved a stock buyback plan on Wednesday, January 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the credit services provider to repurchase up to 14.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at SLM

In other news, SVP Jonathan Boyles sold 94,078 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $20.72, for a total value of $1,949,296.16. Following the sale, the senior vice president now directly owns 52,751 shares of the company’s stock, valued at $1,093,000.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Donna F. Vieira sold 12,308 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total value of $249,483.16. Following the sale, the executive vice president now directly owns 126,500 shares of the company’s stock, valued at $2,564,155. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jonathan Boyles sold 94,078 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the completion of the sale, the senior vice president now directly owns 52,751 shares in the company, valued at $1,093,000.72. The disclosure for this sale can be found here. Insiders own 0.91% of the company’s stock.

Institutional Investors Weigh In On SLM

Institutional investors and hedge funds have recently modified their holdings of the company. Hexagon Capital Partners LLC raised its stake in SLM by 1,373.3% in the first quarter. Hexagon Capital Partners LLC now owns 1,326 shares of the credit services provider’s stock valued at $29,000 after purchasing an additional 1,236 shares in the last quarter. Blue Trust Inc. raised its stake in SLM by 81.4% in the fourth quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock valued at $25,000 after purchasing an additional 596 shares in the last quarter. Daiwa Securities Group Inc. purchased a new stake in SLM in the fourth quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC raised its stake in SLM by 37.0% in the first quarter. SYSTM Wealth Solutions LLC now owns 1,828 shares of the credit services provider’s stock valued at $40,000 after purchasing an additional 494 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in SLM in the fourth quarter valued at approximately $40,000. 98.94% of the stock is owned by hedge funds and other institutional investors.

SLM Company Profile

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.