SLM Co. (NASDAQ:SLM) Receives $27.27 Average Price Target from Analysts

SLM Co. (NASDAQ:SLM) has earned a consensus rating of “Moderate Buy” from the eleven analysts that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $27.27.

A number of equities research analysts have recently issued reports on SLM shares. Bank of America assumed coverage on shares of SLM in a report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $26.00 price objective on shares of SLM in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $30.00 target price (up from $27.00) on shares of SLM in a research note on Monday, December 9th. Wedbush restated an “outperform” rating and issued a $26.00 price target on shares of SLM in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of SLM from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, December 9th.

SLM Trading Up 3.0 %

Shares of NASDAQ:SLM opened at $28.17 on Wednesday. The company’s 50-day moving average price is $25.76 and its two-hundred day moving average price is $23.12. SLM has a one year low of $18.04 and a one year high of $28.74. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.29 and a quick ratio of 1.27. The stock has a market capitalization of $5.98 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21.

SLM (NASDAQ:SLM) last issued its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.30). The company had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. SLM had a net margin of 22.18% and a return on equity of 35.92%. During the same period last year, the company posted $0.11 earnings per share. On average, equities analysts forecast that SLM will post 2.73 EPS for the current fiscal year.

SLM Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were paid a $0.13 dividend. The ex-dividend date was Thursday, December 5th. This is an increase from SLM’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a dividend yield of 1.85%. SLM’s dividend payout ratio is 18.12%.

Insider Buying and Selling

In other news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $27.25, for a total transaction of $122,625.00. Following the sale, the director now directly owns 83,130 shares of the company’s stock, valued at approximately $2,265,292.50. This represents a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.

Institutional Investors Weigh In On SLM

Several institutional investors and hedge funds have recently bought and sold shares of SLM. Allspring Global Investments Holdings LLC lifted its stake in SLM by 119.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 12,979 shares of the credit services provider’s stock worth $270,000 after purchasing an additional 7,076 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of SLM during the 2nd quarter worth $60,000. Commonwealth Equity Services LLC acquired a new stake in SLM in the second quarter valued at about $298,000. National Bank of Canada FI grew its position in SLM by 2.2% in the second quarter. National Bank of Canada FI now owns 58,990 shares of the credit services provider’s stock valued at $1,217,000 after acquiring an additional 1,278 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in SLM by 62.8% during the second quarter. Victory Capital Management Inc. now owns 112,871 shares of the credit services provider’s stock worth $2,347,000 after acquiring an additional 43,542 shares in the last quarter. Institutional investors own 98.94% of the company’s stock.

About SLM

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.