SLM (NASDAQ:SLM) Price Target Raised to $32.00 at Morgan Stanley

SLM (NASDAQ:SLM) had its price target lifted by research analysts at Morgan Stanley from $26.00 to $32.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the credit services provider’s stock. Morgan Stanley’s price target suggests a potential upside of 15.15% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $30.00 price target (up previously from $27.00) on shares of SLM in a report on Monday, December 9th. Barclays cut their target price on SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $26.00 price target on shares of SLM in a research note on Thursday, October 24th. Bank of America assumed coverage on SLM in a research report on Wednesday, September 25th. They set a “buy” rating and a $27.00 price objective on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, SLM has an average rating of “Moderate Buy” and an average price target of $27.27.

SLM Stock Up 1.2 %

Shares of NASDAQ:SLM opened at $27.79 on Thursday. SLM has a 12-month low of $18.04 and a 12-month high of $28.24. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 9.68, a PEG ratio of 0.85 and a beta of 1.21. The stock has a fifty day simple moving average of $24.71 and a two-hundred day simple moving average of $22.58. 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 (NASDAQ:SLM) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (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 during the quarter, compared to analysts’ expectations of $363.40 million. During the same period in the prior year, the firm earned $0.11 EPS. On average, research analysts anticipate that SLM will post 2.73 earnings per share for the current fiscal year.

Insider Transactions at SLM

In other news, Director Robert S. Strong sold 4,500 shares of the company’s 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 completion of the sale, the director now directly owns 83,130 shares in the company, valued at $2,265,292.50. This represents a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On SLM

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC bought a new stake in SLM during the 2nd quarter worth approximately $235,000. Allspring Global Investments Holdings LLC raised its position in shares of SLM by 119.9% during 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 purchasing an additional 7,076 shares during the period. International Assets Investment Management LLC purchased a new position in shares of SLM during the 2nd quarter valued at $60,000. Commonwealth Equity Services LLC bought a new position in SLM in the 2nd quarter worth $298,000. Finally, National Bank of Canada FI increased its stake in SLM by 2.2% in the 2nd quarter. National Bank of Canada FI now owns 58,990 shares of the credit services provider’s stock worth $1,217,000 after buying an additional 1,278 shares in the last quarter. 98.94% of the stock is currently 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.