SLM Co. (NASDAQ:SLMBP) Sees Significant Growth in Short Interest

SLM Co. (NASDAQ:SLMBP) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 9,559 shares, an increase of 61.8% from the January 29th total of 5,907 shares. Based on an average daily trading volume, of 2,334 shares, the days-to-cover ratio is presently 4.1 days. Based on an average daily trading volume, of 2,334 shares, the days-to-cover ratio is presently 4.1 days.

SLM Price Performance

SLMBP opened at $74.62 on Friday. The business has a fifty day moving average price of $74.23 and a 200 day moving average price of $75.04. SLM has a 12 month low of $65.50 and a 12 month high of $83.15.

SLM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Thursday, March 5th will be paid a dividend of $1.4327 per share. This represents a $5.73 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date is Thursday, March 5th.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. TD Cowen restated a “buy” rating on shares of SLM in a report on Friday, December 5th. UBS Group set a $40.00 target price on shares of SLM in a report on Friday, December 5th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating on shares of SLM in a research report on Wednesday, December 10th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, SLM has a consensus rating of “Moderate Buy” and an average target price of $40.00.

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.