SLM (NASDAQ:SLM) Stock Price Expected to Rise, Barclays Analyst Says

SLM (NASDAQ:SLM) had its price target lifted by investment analysts at Barclays from $34.00 to $38.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the credit services provider’s stock. Barclays‘s price target suggests a potential upside of 16.82% from the company’s current price.

Several other equities research analysts also recently weighed in on SLM. Wedbush reiterated an “outperform” rating and issued a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Keefe, Bruyette & Woods increased their price target on SLM from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, January 24th. Royal Bank of Canada increased their price target on SLM from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, January 24th. Morgan Stanley increased their price target on SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company increased their price target on SLM from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, SLM currently has a consensus rating of “Moderate Buy” and an average price target of $30.91.

SLM Stock Down 0.0 %

SLM stock opened at $32.53 on Tuesday. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.85 and a beta of 1.22. The stock has a fifty day simple moving average of $28.52 and a two-hundred day simple moving average of $24.80. SLM has a 12 month low of $19.39 and a 12 month high of $32.65. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 3.37.

SLM (NASDAQ:SLM) last released its quarterly 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 return on equity of 31.66% and a net margin of 20.73%. Equities analysts predict that SLM will post 3.07 EPS for the current fiscal year.

Insider Buying and Selling

In other SLM news, Director Robert S. Strong sold 4,500 shares of the company’s stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On SLM

A number of institutional investors and hedge funds have recently made changes to their positions in SLM. Creative Planning raised its holdings in SLM by 5.3% during the third quarter. Creative Planning now owns 18,708 shares of the credit services provider’s stock worth $428,000 after purchasing an additional 942 shares in the last quarter. Blue Trust Inc. raised its holdings in SLM by 358.7% during the third quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 1,094 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in SLM by 294.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 51,248 shares of the credit services provider’s stock worth $1,172,000 after purchasing an additional 38,269 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in SLM during the third quarter worth about $31,000. Finally, International Assets Investment Management LLC raised its holdings in SLM by 2,187.0% during the third quarter. International Assets Investment Management LLC now owns 66,254 shares of the credit services provider’s stock worth $1,515,000 after purchasing an additional 63,357 shares in the last quarter. 98.94% of the stock is owned by hedge funds and other institutional investors.

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.