SLM (NASDAQ:SLM) Price Target Raised to $29.00

SLM (NASDAQ:SLM) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $27.00 to $29.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 2.84% from the stock’s current price.

Several other equities analysts also recently weighed in on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $30.00 target price (up from $27.00) on shares of SLM in a report on Monday, December 9th. Royal Bank of Canada reissued an “outperform” rating and set a $26.00 price objective on shares of SLM in a research note on Thursday, October 24th. Morgan Stanley lifted their price objective on SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a research report on Thursday, December 19th. Bank of America assumed coverage on SLM in a report on Wednesday, September 25th. They set a “buy” rating and a $27.00 target price on the stock. Finally, Barclays cut their price target on SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, SLM has a consensus rating of “Moderate Buy” and an average price target of $27.45.

SLM Price Performance

SLM stock opened at $28.20 on Tuesday. The firm has a 50 day moving average of $26.54 and a 200-day moving average of $23.49. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 0.85 and a beta of 1.21. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. SLM has a 12-month low of $18.25 and a 12-month high of $28.91.

SLM (NASDAQ:SLM) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). SLM had a return on equity of 35.92% and a net margin of 22.18%. The firm had revenue of $652.64 million for the quarter, compared to analysts’ expectations of $363.40 million. During the same quarter in the previous year, the firm posted $0.11 earnings per share. As a group, equities analysts expect that SLM will post 2.73 EPS for the current fiscal year.

Insider Transactions at SLM

In related news, Director Robert S. Strong sold 4,500 shares of the 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 transaction, the director now directly owns 83,130 shares of the company’s stock, valued at approximately $2,265,292.50. This trade represents a 5.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On SLM

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of SLM by 0.6% in the 3rd quarter. State Street Corp now owns 6,923,576 shares of the credit services provider’s stock valued at $158,342,000 after purchasing an additional 43,927 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in SLM by 2.1% during the second quarter. Dimensional Fund Advisors LP now owns 5,687,920 shares of the credit services provider’s stock valued at $118,248,000 after buying an additional 119,342 shares in the last quarter. Geode Capital Management LLC grew its stake in SLM by 7.5% during the third quarter. Geode Capital Management LLC now owns 4,762,328 shares of the credit services provider’s stock worth $108,936,000 after buying an additional 331,490 shares during the period. Assenagon Asset Management S.A. increased its position in shares of SLM by 3,800.6% in the third quarter. Assenagon Asset Management S.A. now owns 2,406,384 shares of the credit services provider’s stock worth $55,034,000 after acquiring an additional 2,344,691 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of SLM by 107.1% in the 2nd quarter. Millennium Management LLC now owns 2,366,642 shares of the credit services provider’s stock valued at $49,202,000 after acquiring an additional 1,224,015 shares during the period. 98.94% of the stock is currently owned by institutional investors and hedge funds.

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.