SLM (NASDAQ:SLM) Sets New 12-Month High at $21.49

SLM Co. (NASDAQ:SLMGet Free Report)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $21.49 and last traded at $21.42, with a volume of 50032 shares traded. The stock had previously closed at $21.11.

Analysts Set New Price Targets

SLM has been the subject of a number of recent research reports. Royal Bank of Canada lifted their price objective on SLM from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $20.00 price target (up previously from $18.00) on shares of SLM in a report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft began coverage on SLM in a report on Wednesday, January 10th. They issued a “buy” rating and a $25.00 price target for the company. Stephens lifted their price target on SLM from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Wednesday, December 13th. Finally, TheStreet upgraded SLM from a “c+” rating to a “b” rating in a report on Wednesday, January 24th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $19.77.

Check Out Our Latest Research Report on SLM

SLM Stock Down 1.2 %

The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 8.90, a price-to-earnings-growth ratio of 0.45 and a beta of 1.16. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 3.21. The firm has a 50 day moving average price of $20.04 and a two-hundred day moving average price of $16.93.

SLM (NASDAQ:SLMGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The credit services provider reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.15). The firm had revenue of $725.66 million during the quarter, compared to analyst estimates of $379.20 million. SLM had a net margin of 20.65% and a return on equity of 36.86%. During the same period in the prior year, the firm earned ($0.33) earnings per share. On average, equities analysts expect that SLM Co. will post 2.66 earnings per share for the current fiscal year.

SLM Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.06%. The ex-dividend date was Friday, March 1st. SLM’s dividend payout ratio (DPR) is presently 18.33%.

SLM declared that its board has approved a stock repurchase program on Wednesday, January 24th that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the credit services provider to purchase up to 14.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Jonathan Boyles sold 94,078 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the transaction, the senior vice president now directly owns 52,751 shares of the company’s stock, valued at approximately $1,093,000.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other SLM news, SVP Jonathan Boyles sold 94,078 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $20.72, for a total value of $1,949,296.16. Following the transaction, the senior vice president now directly owns 52,751 shares of the company’s stock, valued at approximately $1,093,000.72. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Donna F. Vieira sold 12,308 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $20.27, for a total value of $249,483.16. Following the completion of the transaction, the executive vice president now directly owns 126,500 shares in the company, valued at $2,564,155. The disclosure for this sale can be found here. 0.91% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SLM

Institutional investors have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new position in shares of SLM in the 3rd quarter valued at approximately $713,000. Comerica Bank bought a new stake in shares of SLM in the 2nd quarter valued at approximately $9,029,000. DekaBank Deutsche Girozentrale increased its holdings in shares of SLM by 25.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 155,595 shares of the credit services provider’s stock valued at $2,092,000 after acquiring an additional 31,595 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of SLM by 31.2% in the 3rd quarter. New York State Common Retirement Fund now owns 684,103 shares of the credit services provider’s stock valued at $9,317,000 after acquiring an additional 162,853 shares during the last quarter. Finally, US Bancorp DE increased its holdings in shares of SLM by 112.6% in the 2nd quarter. US Bancorp DE now owns 6,038 shares of the credit services provider’s stock valued at $99,000 after acquiring an additional 3,198 shares during the last quarter. 95.07% of the stock is owned by institutional investors and hedge funds.

About SLM

(Get Free Report)

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.

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