SLM (NASDAQ:SLM) Reaches New 12-Month High After Dividend Announcement

SLM Co. (NASDAQ:SLM)’s stock price hit a new 52-week high on Wednesday following a dividend announcement from the company. The company traded as high as $28.99 and last traded at $28.79, with a volume of 157370 shares trading hands. The stock had previously closed at $28.57.

The newly announced dividend which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.52 annualized dividend and a yield of 1.77%. SLM’s payout ratio is 18.12%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on SLM from $27.00 to $29.00 and gave the stock a “neutral” rating in a report on Tuesday, January 14th. Wedbush reaffirmed an “outperform” rating and set a $26.00 target price on shares of SLM in a research note on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 target price on shares of SLM in a report on Thursday, October 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $30.00 price target (up from $27.00) on shares of SLM in a report on Monday, December 9th. Finally, Morgan Stanley lifted their price objective on shares of SLM from $26.00 to $32.00 and gave the company an “overweight” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.90.

SLM Trading Up 0.8 %

The company has a market capitalization of $6.22 billion, a P/E ratio of 10.21, a PEG ratio of 0.79 and a beta of 1.21. The business has a fifty day moving average of $27.18 and a 200-day moving average of $23.83. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29.

SLM (NASDAQ:SLM) last released its quarterly earnings data on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). SLM had a net margin of 22.18% and a return on equity of 35.92%. Analysts anticipate that SLM Co. will post 2.72 earnings per share for the current fiscal year.

Insider Buying and Selling at SLM

In related news, Director Robert S. Strong sold 4,500 shares of the 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 of the company’s stock, valued at approximately $2,265,292.50. This represents a 5.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.20% of the company’s stock.

Institutional Trading of SLM

Several institutional investors have recently made changes to their positions in the company. True Wealth Design LLC purchased a new position in SLM during the third quarter worth about $31,000. Waldron Private Wealth LLC bought a new position in shares of SLM during the 3rd quarter worth approximately $31,000. Blue Trust Inc. lifted its position in shares of SLM by 358.7% during the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock worth $32,000 after buying an additional 1,094 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in shares of SLM in the 3rd quarter worth approximately $35,000. Finally, Covestor Ltd grew its holdings in shares of SLM by 110.3% in the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock valued at $101,000 after acquiring an additional 2,310 shares in the last quarter. Institutional investors own 98.94% of the company’s stock.

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.