Zacks Investment Research upgraded shares of Sallie Mae (NASDAQ:SLM) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “Shares of Sallie Mae have underperformed the industry over the past six months. Also, the company doesn’t have an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in one of the trailing four quarters. A competitive business environment and consistently increasing expenses remain near-term concerns. Further, Sallie Mae faces concentration risks due to over dependence on brokered deposits. However, the company’s focus on strengthening its Private Education Loan assets and revenues along with maintaining a strong capital position bode well for the long term. Also, the economic recovery and declining unemployment rate should help it maintain a leading position in the student lending market.”
Other analysts also recently issued research reports about the company. BidaskClub downgraded Sallie Mae from a sell rating to a strong sell rating in a research report on Friday, January 19th. Bank of America lowered their price target on Sallie Mae from $14.00 to $13.00 and set a buy rating on the stock in a research report on Friday, January 26th. Oppenheimer set a $17.00 price target on Sallie Mae and gave the stock a buy rating in a research report on Thursday, January 18th. B. Riley reissued a buy rating and set a $13.00 price target (down previously from $14.00) on shares of Sallie Mae in a research report on Thursday, January 18th. Finally, BMO Capital Markets reissued a hold rating and set a $15.00 price target on shares of Sallie Mae in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $14.18.
Sallie Mae (NASDAQ:SLM) last released its earnings results on Wednesday, January 17th. The credit services provider reported $0.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.19. The business had revenue of $309.19 million for the quarter, compared to the consensus estimate of $299.64 million. Sallie Mae had a return on equity of 16.65% and a net margin of 20.23%. During the same quarter in the previous year, the business earned $0.15 earnings per share. research analysts expect that Sallie Mae will post 0.99 EPS for the current year.
In other news, SVP Jonathan Boyles sold 64,585 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $10.95, for a total transaction of $707,205.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Laurent Charles Lutz sold 125,952 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $11.45, for a total value of $1,442,150.40. Following the sale, the executive vice president now owns 615,162 shares of the company’s stock, valued at approximately $7,043,604.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 274,939 shares of company stock worth $3,112,679. Company insiders own 0.59% of the company’s stock.
Several large investors have recently modified their holdings of SLM. Steward Partners Investment Advisory LLC bought a new stake in shares of Sallie Mae during the third quarter worth approximately $115,000. Cerebellum GP LLC bought a new stake in shares of Sallie Mae during the fourth quarter worth approximately $127,000. Virtu Financial LLC bought a new stake in shares of Sallie Mae during the fourth quarter worth approximately $135,000. Paloma Partners Management Co bought a new stake in shares of Sallie Mae during the fourth quarter worth approximately $165,000. Finally, Centaurus Financial Inc. bought a new stake in shares of Sallie Mae during the fourth quarter worth approximately $174,000. Institutional investors own 99.35% of the company’s stock.
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Sallie Mae Company Profile
SLM Corporation, together with its subsidiaries, operates as a saving, planning, and paying for college company in the United States. The company originates and services private education loans to students and their families. Its loan portfolio also includes federal family education loan program, personal, and other loans.
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