Navient (NASDAQ:NAVI) Given New $16.00 Price Target at Bank of America

Navient (NASDAQ:NAVI) had its target price trimmed by Bank of America from $17.00 to $16.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the credit services provider’s stock.

NAVI has been the subject of a number of other research reports. JPMorgan Chase & Co. dropped their price objective on shares of Navient from $15.50 to $15.00 and set a “neutral” rating for the company in a research note on Monday, December 9th. StockNews.com raised Navient from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Barclays upped their price target on Navient from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 8th. Finally, TD Cowen dropped their target price on shares of Navient from $14.00 to $13.00 and set a “sell” rating for the company in a research report on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $15.50.

Navient Stock Performance

Shares of NAVI opened at $13.52 on Tuesday. Navient has a 52-week low of $13.19 and a 52-week high of $19.25. The company has a market capitalization of $1.45 billion, a PE ratio of 19.59 and a beta of 1.40. The company has a 50-day simple moving average of $15.03 and a 200-day simple moving average of $15.16. The company has a quick ratio of 9.49, a current ratio of 9.49 and a debt-to-equity ratio of 16.59.

Navient (NASDAQ:NAVI) last posted its quarterly earnings data on Wednesday, October 30th. The credit services provider reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $1.20. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $150.04 million. Navient had a return on equity of 8.62% and a net margin of 1.71%. During the same quarter last year, the business posted $0.84 EPS. Equities research analysts predict that Navient will post 2.47 earnings per share for the current fiscal year.

Navient Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.73%. Navient’s dividend payout ratio (DPR) is 92.75%.

Insider Buying and Selling

In related news, EVP Stephen M. Hauber sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $15.00, for a total transaction of $150,000.00. Following the completion of the transaction, the executive vice president now owns 256,883 shares in the company, valued at $3,853,245. The trade was a 3.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 27.99% of the stock is currently owned by company insiders.

Institutional Trading of Navient

Several hedge funds have recently bought and sold shares of the company. KBC Group NV raised its holdings in shares of Navient by 47.0% during the third quarter. KBC Group NV now owns 4,355 shares of the credit services provider’s stock valued at $68,000 after buying an additional 1,392 shares during the last quarter. Signaturefd LLC grew its stake in shares of Navient by 22.1% in the second quarter. Signaturefd LLC now owns 4,797 shares of the credit services provider’s stock worth $70,000 after purchasing an additional 869 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of Navient during the third quarter valued at $87,000. Harbor Capital Advisors Inc. acquired a new stake in Navient in the third quarter worth about $95,000. Finally, Covestor Ltd increased its stake in Navient by 24.6% during the 3rd quarter. Covestor Ltd now owns 7,360 shares of the credit services provider’s stock valued at $115,000 after buying an additional 1,455 shares during the period. 97.14% of the stock is currently owned by institutional investors.

About Navient

Navient Corporation provides technology-enabled education finance and business processing solutions for education, health care, and government clients in the United States. It operates through three segments: Federal Education Loans, Consumer Lending, and Business Processing. The company owns Federal Family Education Loan Program (FFELP) loans that are insured or guaranteed by state or not-for-profit agencies; and performs servicing on its portfolios, as well as federal education loans held by other institutions.