Barclays Trims SLM (NASDAQ:SLM) Target Price to $26.00

SLM (NASDAQ:SLM) had its price target trimmed by Barclays from $27.00 to $26.00 in a report released on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the credit services provider’s stock.

Other analysts have also issued reports about the stock. Royal Bank of Canada increased their price target on shares of SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Wedbush lowered their price target on shares of SLM from $29.00 to $26.00 and set an “outperform” rating on the stock in a report on Tuesday, September 24th. Keefe, Bruyette & Woods increased their price objective on SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their target price on SLM from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company lifted their price target on SLM from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.67.

SLM Stock Down 1.4 %

SLM stock opened at $21.90 on Thursday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $4.81 billion, a P/E ratio of 6.84, a P/E/G ratio of 0.60 and a beta of 1.15. SLM has a 52-week low of $12.26 and a 52-week high of $23.95. The company’s 50 day simple moving average is $21.94 and its 200-day simple moving average is $21.50.

SLM (NASDAQ:SLM) last announced its 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). SLM had a net margin of 24.67% and a return on equity of 41.84%. The firm had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. During the same period last year, the firm earned $0.11 earnings per share. As a group, equities research analysts anticipate that SLM will post 2.85 EPS for the current year.

SLM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This is a positive change from SLM’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 2.37%. SLM’s dividend payout ratio (DPR) is presently 13.75%.

Insiders Place Their Bets

In other news, Director Robert S. Strong sold 4,500 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the sale, the director now directly owns 101,093 shares of the company’s stock, valued at approximately $2,294,811.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On SLM

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pallas Capital Advisors LLC bought a new stake in SLM in the 3rd quarter valued at $201,000. Klein Pavlis & Peasley Financial Inc. acquired a new position in shares of SLM during the third quarter valued at about $211,000. State of Alaska Department of Revenue lifted its stake in shares of SLM by 7.2% in the third quarter. State of Alaska Department of Revenue now owns 25,617 shares of the credit services provider’s stock valued at $585,000 after buying an additional 1,710 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in SLM by 194.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 33,273 shares of the credit services provider’s stock valued at $761,000 after acquiring an additional 21,984 shares during the period. Finally, Mraz Amerine & Associates Inc. acquired a new position in SLM in the 3rd quarter valued at approximately $240,000. Institutional investors and hedge funds own 98.94% 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.