SLM (NASDAQ:SLM) Given New $27.00 Price Target at Keefe, Bruyette & Woods

SLM (NASDAQ:SLM) had its target price upped by Keefe, Bruyette & Woods from $25.00 to $27.00 in a research report report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the credit services provider’s stock.

Other research analysts have also recently issued research reports about the company. TD Cowen raised their target price on SLM from $25.00 to $27.00 and gave the company a buy rating in a research note on Tuesday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of SLM from $22.00 to $23.00 and gave the company a neutral rating in a report on Thursday, April 25th. Wells Fargo & Company increased their price target on shares of SLM from $22.00 to $24.00 and gave the stock an overweight rating in a research note on Thursday, April 18th. Royal Bank of Canada boosted their price objective on shares of SLM from $24.00 to $25.00 and gave the stock an outperform rating in a research note on Thursday, April 25th. Finally, Wedbush raised their target price on shares of SLM from $25.00 to $29.00 and gave the company an outperform rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $23.73.

SLM Stock Performance

NASDAQ:SLM opened at $23.00 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.67. SLM has a twelve month low of $12.26 and a twelve month high of $23.95. The stock has a market cap of $5.05 billion, a P/E ratio of 7.19, a price-to-earnings-growth ratio of 0.47 and a beta of 1.17. The firm’s fifty day simple moving average is $21.24 and its 200 day simple moving average is $20.76.

SLM (NASDAQ:SLM) last announced its quarterly 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. SLM had a net margin of 24.67% and a return on equity of 44.03%. The company had revenue of $783.28 million for the quarter, compared to analysts’ expectations of $368.97 million. During the same quarter in the previous year, the company earned $1.10 earnings per share. As a group, research analysts predict that SLM will post 2.78 EPS for the current year.

SLM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, September 5th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.44 dividend on an annualized basis and a yield of 1.91%. SLM’s payout ratio is currently 13.75%.

Hedge Funds Weigh In On SLM

Hedge funds have recently added to or reduced their stakes in the company. Sapient Capital LLC purchased a new position in SLM in the 4th quarter worth approximately $1,785,000. SG Americas Securities LLC raised its holdings in SLM by 117.5% in the 1st quarter. SG Americas Securities LLC now owns 73,140 shares of the credit services provider’s stock worth $1,594,000 after acquiring an additional 39,519 shares during the last quarter. ARGA Investment Management LP raised its holdings in SLM by 19.6% in the 1st quarter. ARGA Investment Management LP now owns 594,514 shares of the credit services provider’s stock worth $12,954,000 after acquiring an additional 97,442 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in SLM by 59.0% in the 1st quarter. Los Angeles Capital Management LLC now owns 593,201 shares of the credit services provider’s stock worth $12,926,000 after acquiring an additional 220,154 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in SLM by 77.8% in the 1st quarter. BNP Paribas Financial Markets now owns 64,514 shares of the credit services provider’s stock worth $1,406,000 after acquiring an additional 28,236 shares during 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.