SLM Co. (NASDAQ:SLM) Receives $29.82 Average Price Target from Brokerages

SLM Co. (NASDAQ:SLM) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $29.82.

A number of analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on SLM from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Compass Point raised their price target on shares of SLM from $31.00 to $34.00 and gave the company a “buy” rating in a report on Friday, January 24th. Morgan Stanley lifted their price objective on shares of SLM from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Royal Bank of Canada raised 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. Finally, Keefe, Bruyette & Woods upped their price target on SLM from $30.00 to $32.00 and gave the stock a “market perform” rating in a research note on Friday, January 24th.

SLM Stock Performance

SLM opened at $28.58 on Friday. The business has a fifty day simple moving average of $27.45 and a 200-day simple moving average of $24.03. The firm has a market cap of $6.07 billion, a PE ratio of 9.96, a P/E/G ratio of 0.79 and a beta of 1.21. The company has a quick ratio of 1.27, a current ratio of 1.29 and a debt-to-equity ratio of 3.21. SLM has a fifty-two week low of $18.84 and a fifty-two week high of $31.49.

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

SLM Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Wednesday, March 5th. SLM’s dividend payout ratio (DPR) is currently 18.12%.

Insider Buying and Selling at SLM

In related 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 completion of the transaction, the director now directly owns 83,130 shares in the company, valued at approximately $2,265,292.50. This represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On SLM

A number of hedge funds have recently made changes to their positions in the business. Waldron Private Wealth LLC acquired a new position in SLM in the third quarter valued at about $31,000. True Wealth Design LLC bought a new stake in shares of SLM during the third quarter valued at approximately $31,000. Blue Trust Inc. increased its stake in shares of 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 acquired a new stake in SLM in the third quarter worth about $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of SLM during the 4th quarter worth approximately $86,000. 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.