SLM (NASDAQ:SLM) Sees Unusually-High Trading Volume Following Analyst Upgrade

SLM Co. (NASDAQ:SLM) shares saw an uptick in trading volume on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $27.00 to $29.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. 1,507,940 shares traded hands during mid-day trading, a decline of 35% from the previous session’s volume of 2,321,615 shares.The stock last traded at $28.07 and had previously closed at $27.63.

Other analysts also recently issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $26.00 price objective on shares of SLM in a research note on Thursday, October 24th. Wedbush reiterated an “outperform” rating and issued a $26.00 price objective on shares of SLM in a research report on Thursday, October 24th. Barclays decreased their price objective on SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Bank of America started coverage on SLM in a research report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $30.00 price objective (up from $27.00) on shares of SLM in a research report on Monday, December 9th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $27.90.

Insider Transactions at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $27.25, for a total value of $122,625.00. Following the transaction, the director now directly owns 83,130 shares of the company’s stock, valued at $2,265,292.50. This represents a 5.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLM. Waldron Private Wealth LLC acquired a new stake in shares of SLM during the 3rd quarter worth $31,000. True Wealth Design LLC acquired a new stake in SLM during the third quarter worth about $31,000. Blue Trust Inc. increased its holdings in SLM by 358.7% in the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock valued at $32,000 after buying an additional 1,094 shares during the period. Capital Performance Advisors LLP bought a new position in SLM in the 3rd quarter valued at about $35,000. Finally, Covestor Ltd increased its holdings in SLM by 110.3% in the 3rd quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock valued at $101,000 after buying an additional 2,310 shares during the period. 98.94% of the stock is owned by institutional investors and hedge funds.

SLM Trading Down 0.2 %

The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29. The stock has a market capitalization of $5.97 billion, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 0.73 and a beta of 1.21. The firm’s fifty day simple moving average is $26.62 and its 200 day simple moving average is $23.53.

SLM (NASDAQ:SLM) last announced its quarterly earnings results 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). The company had revenue of $652.64 million for the quarter, compared to the consensus estimate of $363.40 million. SLM had a net margin of 22.18% and a return on equity of 35.92%. During the same period last year, the firm posted $0.11 earnings per share. As a group, equities research analysts forecast that SLM Co. will post 2.72 EPS for the current fiscal year.

SLM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, December 5th. This is an increase from SLM’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 1.85%. SLM’s dividend payout ratio (DPR) is currently 18.12%.

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.