SLM (NASDAQ:SLM) Receives New Coverage from Analysts at Bank of America

Bank of America started coverage on shares of SLM (NASDAQ:SLM) in a research report report published on Wednesday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $27.00 target price on the credit services provider’s stock.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of SLM from $23.00 to $25.00 and gave the stock a neutral rating in a research note on Thursday, July 25th. TD Cowen raised their target price on SLM from $25.00 to $27.00 and gave the stock a buy rating in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft upped their price target on SLM from $25.00 to $29.00 and gave the company a buy rating in a research report on Thursday, July 25th. Wedbush decreased their price objective on SLM from $29.00 to $26.00 and set an outperform rating for the company in a report on Tuesday. Finally, Royal Bank of Canada upped their price objective on shares of SLM from $25.00 to $27.00 and gave the company an outperform rating in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $24.00.

SLM Stock Performance

Shares of SLM opened at $21.85 on Wednesday. The stock has a 50 day moving average of $21.50 and a 200 day moving average of $21.26. The company has a market capitalization of $4.75 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 0.43 and a beta of 1.15. SLM has a 12 month low of $12.26 and a 12 month high of $23.95. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.66.

SLM (NASDAQ:SLM) last announced its earnings results on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.32. The firm had revenue of $783.28 million during the quarter, compared to analyst estimates of $368.97 million. SLM had a return on equity of 41.84% and a net margin of 24.67%. During the same period last year, the firm posted $1.10 EPS. As a group, sell-side analysts forecast that SLM will post 2.83 earnings per share for the current year.

SLM Announces Dividend

The company also recently announced 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 2.01%. The ex-dividend date of this dividend was Thursday, September 5th. SLM’s dividend payout ratio is presently 13.75%.

Insider Activity

In related news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the sale, the director now owns 101,093 shares in the company, valued at $2,294,811.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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 bought and sold shares of the stock. Hexagon Capital Partners LLC grew its stake in SLM by 1,373.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,326 shares of the credit services provider’s stock worth $29,000 after buying an additional 1,236 shares in the last quarter. SYSTM Wealth Solutions LLC lifted its holdings in shares of SLM by 37.0% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 1,828 shares of the credit services provider’s stock worth $40,000 after acquiring an additional 494 shares during the last quarter. Neo Ivy Capital Management purchased a new position in SLM in the fourth quarter worth $40,000. Quarry LP increased its stake in SLM by 78.6% in the fourth quarter. Quarry LP now owns 2,962 shares of the credit services provider’s stock valued at $57,000 after acquiring an additional 1,304 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in SLM during the second quarter valued at about $60,000. 98.94% of the stock is owned by hedge funds and other institutional investors.

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.