Amalgamated Bank Sells 7,827 Shares of SLM Co. (NASDAQ:SLM)

Amalgamated Bank decreased its holdings in SLM Co. (NASDAQ:SLM) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 134,211 shares of the credit services provider’s stock after selling 7,827 shares during the period. Amalgamated Bank’s holdings in SLM were worth $2,790,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SLM. Quadrant Capital Group LLC grew its position in SLM by 39.5% in the fourth quarter. Quadrant Capital Group LLC now owns 2,976 shares of the credit services provider’s stock valued at $57,000 after acquiring an additional 843 shares during the last quarter. Norges Bank bought a new stake in shares of SLM during the 4th quarter valued at approximately $42,108,000. PNC Financial Services Group Inc. increased its position in SLM by 8.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 17,781 shares of the credit services provider’s stock worth $340,000 after purchasing an additional 1,311 shares in the last quarter. Neuberger Berman Group LLC increased its position in SLM by 3.0% during the 4th quarter. Neuberger Berman Group LLC now owns 26,541 shares of the credit services provider’s stock worth $507,000 after purchasing an additional 772 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in SLM by 394.5% in the 4th quarter. Hsbc Holdings PLC now owns 54,521 shares of the credit services provider’s stock valued at $1,045,000 after purchasing an additional 43,495 shares during the last quarter. Institutional investors and hedge funds own 98.94% of the company’s stock.

SLM Stock Performance

NASDAQ:SLM opened at $22.07 on Tuesday. SLM Co. has a 52 week low of $12.26 and a 52 week high of $23.95. The firm’s fifty day moving average is $21.58 and its 200-day moving average is $21.25. The firm has a market cap of $4.85 billion, a P/E ratio of 6.90, a P/E/G ratio of 0.41 and a beta of 1.15. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.26 and a current ratio of 1.26.

SLM (NASDAQ:SLM) last issued its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.32. SLM had a net margin of 24.67% and a return on equity of 41.84%. The business had revenue of $783.28 million for the quarter, compared to analysts’ expectations of $368.97 million. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Equities analysts expect that SLM Co. will post 2.83 earnings per share for the current year.

SLM Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, September 5th. SLM’s dividend payout ratio (DPR) is presently 13.75%.

Insiders Place Their Bets

In related news, Director Robert S. Strong sold 4,500 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.70, for a total transaction of $102,150.00. Following the transaction, the director now owns 101,093 shares in the company, valued at approximately $2,294,811.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company upped their target price on SLM from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Wedbush lifted their price target on SLM from $25.00 to $29.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. TD Cowen upped their price objective on SLM from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Finally, JPMorgan Chase & Co. lifted their target price on shares of SLM from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, SLM presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

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.