SLM Co. (NASDAQ:SLM) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN trimmed its stake in shares of SLM Co. (NASDAQ:SLM) by 62.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,411 shares of the credit services provider’s stock after selling 20,393 shares during the quarter. OLD National Bancorp IN’s holdings in SLM were worth $237,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SLM. Blue Trust Inc. lifted its holdings in shares of SLM by 81.4% in the 4th quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock valued at $25,000 after purchasing an additional 596 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in SLM during the 4th quarter valued at approximately $29,000. CWM LLC raised its stake in SLM by 51.9% during the 3rd quarter. CWM LLC now owns 5,632 shares of the credit services provider’s stock valued at $77,000 after acquiring an additional 1,925 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in SLM by 10.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 9,033 shares of the credit services provider’s stock valued at $123,000 after acquiring an additional 851 shares during the last quarter. Finally, MQS Management LLC purchased a new position in shares of SLM during the 3rd quarter worth approximately $144,000. 98.94% of the stock is owned by institutional investors and hedge funds.

SLM Stock Performance

SLM opened at $21.93 on Friday. The stock’s 50 day simple moving average is $20.91 and its 200 day simple moving average is $18.17. The stock has a market cap of $4.83 billion, a P/E ratio of 6.85, a P/E/G ratio of 0.45 and a beta of 1.16. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.22 and a quick ratio of 1.22. SLM Co. has a 1-year low of $12.26 and a 1-year high of $22.37.

SLM (NASDAQ:SLM) last announced its earnings results on Wednesday, April 24th. The credit services provider reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.18. The firm had revenue of $837.72 million for the quarter, compared to analysts’ expectations of $376.43 million. SLM had a return on equity of 47.72% and a net margin of 25.15%. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, equities analysts anticipate that SLM Co. will post 2.72 EPS for the current fiscal year.

SLM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, June 6th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Wednesday, June 5th. SLM’s dividend payout ratio (DPR) is presently 13.75%.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SLM. Royal Bank of Canada increased their target price on SLM from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft began coverage on SLM in a research note on Wednesday, January 10th. They set a “buy” rating and a $25.00 target price for the company. Wedbush increased their target price on SLM from $26.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday. TheStreet raised SLM from a “c+” rating to a “b” rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. increased their target price on SLM from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, SLM has a consensus rating of “Moderate Buy” and an average target price of $21.32.

Insider Transactions at SLM

In other news, SVP Jonathan Boyles sold 94,078 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 52,751 shares in the company, valued at $1,093,000.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Jonathan Boyles sold 94,078 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 52,751 shares in the company, valued at $1,093,000.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donna F. Vieira sold 12,308 shares of the stock in a transaction on Tuesday, January 30th. The stock was 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. Insiders own 0.91% 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.