JPMorgan Chase & Co. Forecasts Strong Price Appreciation for SLM (NASDAQ:SLM) Stock

SLM (NASDAQ:SLM) had its price objective hoisted by JPMorgan Chase & Co. from $27.00 to $29.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 2.84% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reissued an “outperform” rating and set a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. Bank of America began coverage on shares of SLM in a research note on Wednesday, September 25th. They set a “buy” rating and a $27.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $26.00 price objective on shares of SLM in a research note on Thursday, October 24th. Morgan Stanley lifted their target price on SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Finally, Barclays decreased their target price on SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $27.45.

SLM Stock Performance

Shares of SLM stock opened at $28.20 on Tuesday. The company has a market cap of $5.99 billion, a P/E ratio of 9.83, a PEG ratio of 0.85 and a beta of 1.21. The firm has a fifty day moving average price of $26.54 and a 200 day moving average price of $23.49. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. SLM has a 12 month low of $18.25 and a 12 month high of $28.91.

SLM (NASDAQ:SLM) last released its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.30). SLM had a return on equity of 35.92% and a net margin of 22.18%. The business had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. During the same period in the prior year, the company posted $0.11 earnings per share. Sell-side analysts predict that SLM will post 2.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert S. Strong sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $27.25, for a total transaction of $122,625.00. Following the completion of the sale, the director now owns 83,130 shares in the company, valued at $2,265,292.50. This represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On SLM

Several institutional investors have recently bought and sold shares of the company. Empowered Funds LLC boosted its holdings in shares of SLM by 4.8% in the third quarter. Empowered Funds LLC now owns 11,594 shares of the credit services provider’s stock valued at $265,000 after acquiring an additional 526 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in SLM by 1.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,825 shares of the credit services provider’s stock valued at $933,000 after purchasing an additional 552 shares during the period. GAMMA Investing LLC increased its position in SLM by 13.3% during the 3rd quarter. GAMMA Investing LLC now owns 5,077 shares of the credit services provider’s stock worth $116,000 after purchasing an additional 594 shares during the period. Creative Planning raised its stake in shares of SLM by 5.3% during the 3rd quarter. Creative Planning now owns 18,708 shares of the credit services provider’s stock worth $428,000 after buying an additional 942 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of SLM by 12.3% during the 3rd quarter. US Bancorp DE now owns 9,368 shares of the credit services provider’s stock worth $214,000 after buying an additional 1,029 shares in the last quarter. 98.94% of the stock is owned by institutional investors and hedge funds.

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.