SLM (NASDAQ:SLM) Hits New 12-Month Low at $15.01

Posted by on Jun 16th, 2022

SLM Co. (NASDAQ:SLM – Get Rating)’s stock price reached a new 52-week low on Thursday . The company traded as low as $15.01 and last traded at $15.01, with a volume of 97475 shares traded. The stock had previously closed at $17.15.

A number of research firms have recently weighed in on SLM. Citigroup reduced their target price on shares of SLM from $26.00 to $21.00 in a research report on Monday, May 2nd. StockNews.com started coverage on shares of SLM in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Stephens cut shares of SLM from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $24.00 to $19.00 in a research note on Monday, April 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $23.00.

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 3.10. The firm has a market cap of $3.95 billion, a P/E ratio of 6.88 and a beta of 1.21. The company’s 50 day simple moving average is $17.59 and its 200-day simple moving average is $18.40.

SLM (NASDAQ:SLM – Get Rating) last posted its earnings results on Wednesday, April 27th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.35). The company had revenue of $375.03 million for the quarter, compared to the consensus estimate of $375.59 million. SLM had a net margin of 31.67% and a return on equity of 34.38%. SLM’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 EPS. On average, sell-side analysts anticipate that SLM Co. will post 2.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Friday, June 3rd were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Thursday, June 2nd. SLM’s dividend payout ratio is currently 20.28%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLM. Boston Partners increased its position in shares of SLM by 37.0% during the 1st quarter. Boston Partners now owns 14,965,786 shares of the credit services provider’s stock valued at $273,621,000 after purchasing an additional 4,042,189 shares during the last quarter. Norges Bank purchased a new stake in shares of SLM during the 4th quarter valued at about $54,917,000. Polaris Capital Management LLC purchased a new stake in shares of SLM during the 1st quarter valued at about $49,609,000. Massachusetts Financial Services Co. MA increased its position in shares of SLM by 13.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 17,587,780 shares of the credit services provider’s stock valued at $345,952,000 after purchasing an additional 2,021,850 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its position in shares of SLM by 221.0% during the 1st quarter. Wedge Capital Management L L P NC now owns 2,550,985 shares of the credit services provider’s stock valued at $46,836,000 after purchasing an additional 1,756,241 shares during the last quarter. 92.97% of the stock is owned by hedge funds and other institutional investors.

SLM Company Profile (NASDAQ: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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and omnibus accounts, as well as credit card loans.

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