SLM (NASDAQ:SLM) Price Target Raised to $32.00

SLM (NASDAQ:SLM) had its price objective increased by Royal Bank of Canada from $30.00 to $32.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the credit services provider’s stock.

Several other research firms have also issued reports on SLM. Morgan Stanley upped their price target on SLM from $26.00 to $32.00 and gave the company an “overweight” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. raised their price target on shares of SLM from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday. Barclays lowered their price objective on shares of SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Compass Point raised their target price on shares of SLM from $31.00 to $34.00 and gave the stock a “buy” rating in a report on Friday. Finally, Wedbush restated an “outperform” rating and issued a $26.00 target price on shares of SLM in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.82.

SLM Price Performance

Shares of SLM stock opened at $29.01 on Friday. The firm has a fifty day moving average of $27.27 and a two-hundred day moving average of $23.93. The firm has a market cap of $6.16 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.79 and a beta of 1.21. SLM has a 1-year low of $18.84 and a 1-year high of $31.49. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.29 and a quick ratio of 1.27.

SLM (NASDAQ:SLM) last posted its quarterly earnings results on Thursday, January 23rd. The credit services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). SLM had a return on equity of 35.92% and a net margin of 22.18%. As a group, research analysts anticipate that SLM will post 2.72 earnings per share for the current fiscal year.

SLM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, March 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.79%. SLM’s dividend payout ratio is presently 18.12%.

Insider Activity at SLM

In related news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $27.25, for a total value of $122,625.00. Following the completion of the transaction, the director now owns 83,130 shares in the company, 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 at this hyperlink. 1.20% of the stock is owned by insiders.

Institutional Trading of SLM

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its position in SLM by 32.2% during the fourth quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider’s stock worth $51,000 after buying an additional 450 shares in the last quarter. Empowered Funds LLC lifted its position in shares of SLM by 4.8% in the 3rd quarter. Empowered Funds LLC now owns 11,594 shares of the credit services provider’s stock worth $265,000 after acquiring an additional 526 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of SLM by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,825 shares of the credit services provider’s stock worth $933,000 after purchasing an additional 552 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of 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 in the last quarter. Finally, Creative Planning increased its position in shares of SLM by 5.3% during the third quarter. Creative Planning now owns 18,708 shares of the credit services provider’s stock valued at $428,000 after purchasing an additional 942 shares during the period. 98.94% of the stock is currently owned by institutional investors.

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.