Navient (NASDAQ:NAVI) Now Covered by Analysts at Bank of America

Bank of America started coverage on shares of Navient (NASDAQ:NAVI) in a report released on Monday morning, Marketbeat reports. The brokerage issued a neutral rating and a $17.00 price objective on the credit services provider’s stock.

Other research analysts have also issued reports about the company. Barclays lowered their target price on Navient from $11.00 to $10.00 and set an underweight rating on the stock in a report on Tuesday, July 9th. JPMorgan Chase & Co. lowered their price objective on shares of Navient from $16.00 to $15.00 and set a neutral rating on the stock in a research note on Monday, July 8th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Navient from $15.00 to $16.00 and gave the stock a market perform rating in a report on Thursday, July 25th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $15.70.

Navient Stock Up 1.1 %

NAVI stock opened at $15.59 on Monday. The firm’s 50-day moving average is $15.59 and its two-hundred day moving average is $15.54. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 9.99 and a beta of 1.39. Navient has a 52 week low of $13.95 and a 52 week high of $19.68. The company has a current ratio of 9.99, a quick ratio of 9.99 and a debt-to-equity ratio of 17.30.

Navient (NASDAQ:NAVI) last released its earnings results on Wednesday, July 24th. The credit services provider reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.14). The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $157.27 million. Navient had a return on equity of 11.06% and a net margin of 3.41%. During the same quarter last year, the company earned $0.70 earnings per share. On average, analysts forecast that Navient will post 1.43 earnings per share for the current fiscal year.

Navient Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, September 6th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 4.11%. The ex-dividend date was Friday, September 6th. Navient’s dividend payout ratio (DPR) is currently 41.03%.

Institutional Investors Weigh In On Navient

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in Navient in the 1st quarter worth approximately $36,000. IAG Wealth Partners LLC purchased a new stake in shares of Navient in the second quarter valued at $50,000. Signaturefd LLC boosted its position in shares of Navient by 22.1% in the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after buying an additional 869 shares during the period. Covestor Ltd grew its holdings in shares of Navient by 23.1% during the first quarter. Covestor Ltd now owns 6,245 shares of the credit services provider’s stock valued at $109,000 after buying an additional 1,173 shares in the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Navient during the second quarter valued at $121,000. Institutional investors and hedge funds own 97.14% of the company’s stock.

Navient Company Profile

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.