SLM (NASDAQ:SLM) Reaches New 12-Month High on Analyst Upgrade

SLM Co. (NASDAQ:SLM) shares reached a new 52-week high on Tuesday after Barclays raised their price target on the stock from $34.00 to $38.00. Barclays currently has an overweight rating on the stock. SLM traded as high as $31.84 and last traded at $31.60, with a volume of 1499 shares traded. The stock had previously closed at $31.43.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. increased their price objective on SLM from $29.00 to $30.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Morgan Stanley raised their price objective on SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Royal Bank of Canada upped their target price on SLM from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, January 24th. Compass Point raised their price target on shares of SLM from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, January 24th. Finally, Wells Fargo & Company boosted their price target on shares of SLM from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.91.

Insider Activity

In other news, Director Robert S. Strong sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total value of $1,142,800.00. Following the completion of the sale, the director now directly owns 43,163 shares in the company, valued at $1,233,166.91. This trade represents a 48.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On SLM

Hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors acquired a new position in shares of SLM during the fourth quarter worth approximately $144,101,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in SLM during the fourth quarter worth $140,442,000. T. Rowe Price Investment Management Inc. bought a new position in shares of SLM in the fourth quarter valued at $76,362,000. Duquesne Family Office LLC acquired a new position in shares of SLM during the fourth quarter valued at about $69,509,000. Finally, Norges Bank bought a new stake in shares of SLM during the fourth quarter worth about $68,603,000. Institutional investors and hedge funds own 98.94% of the company’s stock.

SLM Stock Up 3.5 %

The company has a market cap of $6.91 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.81 and a beta of 1.22. The company has a debt-to-equity ratio of 3.37, a quick ratio of 1.27 and a current ratio of 1.32. The stock’s fifty day moving average is $28.40 and its two-hundred day moving average is $24.75.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Thursday, January 23rd. The credit services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a return on equity of 31.66% and a net margin of 20.73%. Sell-side analysts predict that SLM Co. will post 3.07 earnings per share for the current fiscal year.

SLM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, March 5th. SLM’s dividend payout ratio is 19.62%.

SLM Company Profile

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.