JPMorgan Chase & Co. Issues Pessimistic Forecast for SLM (NASDAQ:SLM) Stock Price

SLM (NASDAQ:SLM) had its price objective cut by JPMorgan Chase & Co. from $30.00 to $27.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

Other research analysts have also issued research reports about the stock. Barclays increased their price target on shares of SLM from $34.00 to $38.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods raised their target price on SLM from $30.00 to $32.00 and gave the company a “market perform” rating in a report on Friday, January 24th. Morgan Stanley upped their price target on SLM from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, March 10th. Compass Point raised their price objective on SLM from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, January 24th. Finally, Wells Fargo & Company upped their target price on SLM from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.18.

SLM Price Performance

Shares of NASDAQ:SLM opened at $25.78 on Tuesday. The business has a fifty day simple moving average of $29.24 and a 200 day simple moving average of $26.84. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 3.37. SLM has a 1 year low of $19.39 and a 1 year high of $32.65. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of 9.73, a P/E/G ratio of 0.86 and a beta of 1.05.

SLM (NASDAQ:SLM) last announced its quarterly earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a net margin of 20.73% and a return on equity of 31.66%. As a group, sell-side analysts predict that SLM will post 3.07 earnings per share for the current fiscal year.

SLM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.52 annualized dividend and a dividend yield of 2.02%. SLM’s payout ratio is 19.62%.

Insider Activity at SLM

In related news, Director Robert S. Strong sold 40,000 shares of SLM stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total transaction of $1,142,800.00. Following the sale, the director now directly owns 43,163 shares of the company’s stock, valued at $1,233,166.91. This trade represents a 48.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of SLM

A number of hedge funds have recently modified their holdings of SLM. Merit Financial Group LLC raised its stake in shares of SLM by 6.4% in the first quarter. Merit Financial Group LLC now owns 7,800 shares of the credit services provider’s stock valued at $229,000 after purchasing an additional 469 shares in the last quarter. Kaizen Financial Strategies increased its holdings in SLM by 7.5% in the 1st quarter. Kaizen Financial Strategies now owns 9,177 shares of the credit services provider’s stock valued at $270,000 after buying an additional 639 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in shares of SLM in the 1st quarter valued at $214,000. GAMMA Investing LLC lifted its holdings in shares of SLM by 3,400.9% during the 1st quarter. GAMMA Investing LLC now owns 235,959 shares of the credit services provider’s stock worth $6,930,000 after acquiring an additional 229,219 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of SLM by 470.6% during the 4th quarter. Wellington Management Group LLP now owns 1,126,756 shares of the credit services provider’s stock valued at $31,076,000 after acquiring an additional 929,292 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.