SLM (NASDAQ:SLM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

SLM (NASDAQ:SLM) had its price target upped by equities research analysts at JPMorgan Chase & Co. from $24.00 to $27.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the credit services provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 2.94% from the stock’s current price.

Several other research firms have also recently issued reports on SLM. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $30.00 target price (up from $27.00) on shares of SLM in a research note on Monday. Wedbush reiterated an “outperform” rating and issued a $26.00 price objective on shares of SLM in a research report on Thursday, October 24th. Barclays dropped their target price on SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $26.00 price target on shares of SLM in a report on Thursday, October 24th. Finally, Bank of America began coverage on SLM in a report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SLM has an average rating of “Moderate Buy” and an average price target of $26.00.

SLM Price Performance

NASDAQ:SLM opened at $26.23 on Monday. The firm’s fifty day moving average is $24.06 and its two-hundred day moving average is $22.29. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 1.13 and a beta of 1.21. SLM has a one year low of $16.79 and a one year high of $28.22. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29.

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

Insiders Place Their Bets

In other SLM news, Director Robert S. Strong sold 4,500 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now directly owns 83,130 shares of the company’s stock, valued at $2,265,292.50. This trade represents a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SLM

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC increased its stake in shares of SLM by 170.0% in the 2nd quarter. CWM LLC now owns 14,917 shares of the credit services provider’s stock worth $310,000 after acquiring an additional 9,393 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in SLM during the second quarter worth about $235,000. Shikiar Asset Management Inc. raised its stake in SLM by 19.5% during the second quarter. Shikiar Asset Management Inc. now owns 211,350 shares of the credit services provider’s stock worth $4,394,000 after purchasing an additional 34,550 shares during the period. Nisa Investment Advisors LLC boosted its holdings in SLM by 45.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 166,538 shares of the credit services provider’s stock valued at $3,462,000 after purchasing an additional 52,247 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of SLM by 119.9% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,979 shares of the credit services provider’s stock valued at $270,000 after buying an additional 7,076 shares during the period. Institutional investors and hedge funds own 98.94% of the company’s stock.

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.