SLM (NASDAQ:SLM) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of SLM (NASDAQ:SLM) in a research report report published on Thursday morning, Benzinga reports. The firm currently has a $26.00 price objective on the credit services provider’s stock.

SLM has been the topic of a number of other reports. Wells Fargo & Company increased their price objective on shares of SLM from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on SLM from $25.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Barclays reduced their target price on SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday. Bank of America began coverage on SLM in a research report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Wedbush reissued an “outperform” rating and set a $26.00 price target on shares of SLM in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.45.

SLM Stock Performance

NASDAQ:SLM opened at $21.90 on Thursday. SLM has a 1-year low of $12.26 and a 1-year high of $23.95. The stock has a market cap of $4.81 billion, a P/E ratio of 6.84, a PEG ratio of 0.60 and a beta of 1.15. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a 50-day moving average of $21.94 and a two-hundred day moving average of $21.50.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). SLM had a net margin of 24.67% and a return on equity of 41.84%. The business had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. During the same quarter last year, the business earned $0.11 EPS. On average, research analysts expect that SLM will post 2.85 earnings per share for the current fiscal year.

SLM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.52 annualized dividend and a dividend yield of 2.37%. This is a positive change from SLM’s previous quarterly dividend of $0.11. SLM’s dividend payout ratio is currently 13.75%.

Insider Activity at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.70, for a total value of $102,150.00. Following the sale, the director now owns 101,093 shares in the company, valued at approximately $2,294,811.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Institutional Trading of SLM

Several large investors have recently added to or reduced their stakes in the business. Pallas Capital Advisors LLC bought a new position in shares of SLM in the third quarter worth $201,000. Klein Pavlis & Peasley Financial Inc. bought a new position in SLM in the 3rd quarter valued at about $211,000. State of Alaska Department of Revenue increased its stake in SLM by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 25,617 shares of the credit services provider’s stock valued at $585,000 after buying an additional 1,710 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of SLM by 194.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 33,273 shares of the credit services provider’s stock worth $761,000 after buying an additional 21,984 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. acquired a new stake in shares of SLM in the 3rd quarter worth approximately $240,000. 98.94% of the stock is currently owned by institutional investors and hedge funds.

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.