Cambria Investment Management L.P. Trims Stock Position in SLM Co. (NASDAQ:SLM)

Cambria Investment Management L.P. cut its position in shares of SLM Co. (NASDAQ:SLM) by 3.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 394,320 shares of the credit services provider’s stock after selling 12,720 shares during the period. Cambria Investment Management L.P. owned approximately 0.17% of SLM worth $6,435,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. CWM LLC lifted its stake in SLM by 138.2% in the first quarter. CWM LLC now owns 3,713 shares of the credit services provider’s stock worth $46,000 after acquiring an additional 2,154 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its position in shares of SLM by 257.3% during the 4th quarter. Industrial Alliance Investment Management Inc. now owns 2,805 shares of the credit services provider’s stock worth $47,000 after buying an additional 2,020 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of SLM by 22.4% during the 1st quarter. Parkside Financial Bank & Trust now owns 6,711 shares of the credit services provider’s stock worth $123,000 after buying an additional 1,226 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of SLM during the 1st quarter worth approximately $131,000. Finally, Brown Brothers Harriman & Co. lifted its position in shares of SLM by 1,958.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 7,204 shares of the credit services provider’s stock worth $132,000 after buying an additional 6,854 shares during the last quarter. 95.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on SLM shares. TD Cowen started coverage on shares of SLM in a research report on Wednesday, November 1st. They set an “outperform” rating and a $17.50 price objective for the company. Wedbush dropped their price objective on shares of SLM from $17.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, October 26th. StockNews.com started coverage on shares of SLM in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Morgan Stanley dropped their price objective on shares of SLM from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, October 27th. Finally, Barclays began coverage on shares of SLM in a research note on Wednesday. They issued an “overweight” rating and a $16.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $16.64.

SLM Price Performance

NASDAQ:SLM opened at $15.04 on Thursday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 11.14 and a beta of 1.22. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 3.56. The company’s 50-day moving average is $13.78 and its two-hundred day moving average is $14.98. SLM Co. has a 12-month low of $10.81 and a 12-month high of $17.91.

SLM (NASDAQ:SLM) last released its earnings results on Wednesday, October 25th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.22). The firm had revenue of $409.00 million during the quarter, compared to analysts’ expectations of $381.34 million. SLM had a net margin of 12.76% and a return on equity of 21.83%. SLM’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.29 earnings per share. Research analysts expect that SLM Co. will post 2.57 EPS for the current year.

SLM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.44 annualized dividend and a dividend yield of 2.93%. SLM’s payout ratio is currently 32.59%.

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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.