SLM (NASDAQ:SLM) Shares Gap Up After Analyst Upgrade

SLM Co. (NASDAQ:SLMGet Free Report)’s stock price gapped up prior to trading on Wednesday after TD Cowen raised their price target on the stock from $25.00 to $27.00. The stock had previously closed at $20.98, but opened at $21.59. TD Cowen currently has a buy rating on the stock. SLM shares last traded at $21.14, with a volume of 89,859 shares.

Several other brokerages have also commented on SLM. Wells Fargo & Company raised their price objective on SLM from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, April 18th. Royal Bank of Canada raised their price objective on SLM from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. JPMorgan Chase & Co. raised their price objective on SLM from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Thursday, April 25th. Finally, Wedbush reissued an “outperform” rating and issued a $28.00 price objective on shares of SLM in a report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.18.

Read Our Latest Stock Report on SLM

Institutional Trading of SLM

A number of institutional investors have recently made changes to their positions in SLM. Sapient Capital LLC purchased a new position in SLM during the fourth quarter worth approximately $1,785,000. Norges Bank purchased a new position in SLM during the fourth quarter worth approximately $42,108,000. Parkside Financial Bank & Trust lifted its position in SLM by 13.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 10,266 shares of the credit services provider’s stock worth $196,000 after buying an additional 1,233 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in SLM by 2.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,610 shares of the credit services provider’s stock worth $929,000 after buying an additional 995 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in SLM by 25.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 155,595 shares of the credit services provider’s stock valued at $2,092,000 after purchasing an additional 31,595 shares during the period. 98.94% of the stock is owned by institutional investors and hedge funds.

SLM Price Performance

The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.67. The company has a market cap of $4.56 billion, a PE ratio of 6.49, a P/E/G ratio of 0.42 and a beta of 1.16. The stock has a 50-day simple moving average of $21.22 and a 200 day simple moving average of $19.71.

SLM (NASDAQ:SLMGet Free Report) last posted 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. SLM had a return on equity of 45.65% and a net margin of 25.15%. The company had revenue of $837.72 million for the quarter, compared to the consensus estimate of $376.43 million. During the same quarter in the previous year, the business earned $0.47 earnings per share. Equities analysts expect that SLM Co. will post 2.75 EPS for the current year.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, June 6th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 2.12%. The ex-dividend date is Thursday, June 6th. SLM’s payout ratio is currently 13.75%.

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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