SLM (NASDAQ:SLM) Sees Unusually-High Trading Volume After Analyst Upgrade

Shares of SLM Co. (NASDAQ:SLM) saw an uptick in trading volume on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $27.00 to $29.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. 1,507,940 shares were traded during mid-day trading, a decline of 35% from the previous session’s volume of 2,321,615 shares.The stock last traded at $28.07 and had previously closed at $27.63.

Several other research firms have also issued reports on SLM. Morgan Stanley raised their price target on shares of SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Bank of America began coverage on shares of SLM in a report on Wednesday, September 25th. They set a “buy” rating and a $27.00 price target for the company. Royal Bank of Canada restated an “outperform” rating and set a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Wedbush restated an “outperform” rating and set a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $30.00 price target (up previously from $27.00) on shares of SLM in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.45.

Insider Transactions at SLM

In related news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $27.25, for a total value of $122,625.00. Following the completion of the sale, the director now owns 83,130 shares of the company’s stock, valued at approximately $2,265,292.50. This trade represents a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Trading of SLM

Several hedge funds have recently bought and sold shares of the business. Merit Financial Group LLC acquired a new stake in SLM in the 4th quarter valued at $202,000. Cooper Financial Group bought a new position in SLM during the 4th quarter valued at $220,000. Harbor Capital Advisors Inc. lifted its stake in SLM by 1.2% during the 4th quarter. Harbor Capital Advisors Inc. now owns 224,900 shares of the credit services provider’s stock valued at $6,203,000 after acquiring an additional 2,636 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in SLM by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,825 shares of the credit services provider’s stock valued at $933,000 after acquiring an additional 552 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in SLM by 32.8% during the 4th quarter. GAMMA Investing LLC now owns 6,740 shares of the credit services provider’s stock valued at $186,000 after acquiring an additional 1,663 shares in the last quarter. Institutional investors and hedge funds own 98.94% of the company’s stock.

SLM Trading Up 2.1 %

The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29. The firm has a 50 day simple moving average of $26.54 and a two-hundred day simple moving average of $23.49. The firm has a market capitalization of $5.99 billion, a P/E ratio of 9.83, a PEG ratio of 0.85 and a beta of 1.21.

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

SLM Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, December 5th. This is a boost from SLM’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 1.84%. SLM’s dividend payout ratio (DPR) is 18.12%.

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.