SLM (NASDAQ:SLM) Price Target Raised to $27.00

SLM (NASDAQ:SLM) had its target price lifted by Barclays from $23.00 to $27.00 in a report issued on Tuesday, Benzinga reports. They currently have an overweight rating on the credit services provider’s stock.

Several other equities research analysts have also recently commented on the company. Keefe, Bruyette & Woods increased their price target on SLM from $25.00 to $27.00 and gave the company an outperform rating in a report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on SLM from $25.00 to $29.00 and gave the stock a buy rating in a research note on Thursday, July 25th. Wedbush lowered their price target on shares of SLM from $29.00 to $26.00 and set an outperform rating on the stock in a research report on Tuesday, September 24th. Royal Bank of Canada raised their price objective on shares of SLM from $25.00 to $27.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Finally, Wells Fargo & Company boosted their target price on shares of SLM from $24.00 to $27.00 and gave the company an overweight rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, SLM has a consensus rating of Moderate Buy and an average price target of $24.83.

SLM Trading Down 0.3 %

Shares of SLM opened at $22.69 on Tuesday. SLM has a 52-week low of $12.26 and a 52-week high of $23.95. The stock has a market cap of $4.93 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 0.59 and a beta of 1.15. The firm’s fifty day moving average is $21.40 and its two-hundred day moving average is $21.38. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 2.66.

SLM (NASDAQ:SLM) last posted its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.32. SLM had a net margin of 24.67% and a return on equity of 41.84%. The firm had revenue of $783.28 million for the quarter, compared to analyst estimates of $368.97 million. During the same period in the previous year, the business posted $1.10 earnings per share. Research analysts forecast that SLM will post 2.84 earnings per share for the current fiscal year.

SLM Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.44 annualized dividend and a dividend yield of 1.94%. SLM’s dividend payout ratio (DPR) is 13.75%.

Insider Activity at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction that occurred 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 transaction, the director now directly owns 101,093 shares in the company, valued at approximately $2,294,811.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SLM

Large investors have recently bought and sold shares of the company. Shikiar Asset Management Inc. lifted its position in SLM by 9.7% in the third quarter. Shikiar Asset Management Inc. now owns 231,850 shares of the credit services provider’s stock valued at $5,302,000 after purchasing an additional 20,500 shares during the period. Chickasaw Capital Management LLC acquired a new position in SLM during the third quarter worth $217,000. CWM LLC raised its position in SLM by 187.6% in the third quarter. CWM LLC now owns 42,899 shares of the credit services provider’s stock worth $981,000 after acquiring an additional 27,982 shares in the last quarter. GAMMA Investing LLC lifted its holdings in SLM by 13.3% in the third quarter. GAMMA Investing LLC now owns 5,077 shares of the credit services provider’s stock valued at $116,000 after acquiring an additional 594 shares during the period. Finally, Invst LLC boosted its position in shares of SLM by 5.8% during the 2nd quarter. Invst LLC now owns 40,000 shares of the credit services provider’s stock worth $828,000 after purchasing an additional 2,176 shares in the last quarter. Hedge funds and other institutional investors 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.