Royal Bank of Canada Increases SLM (NASDAQ:SLM) Price Target to $32.00

SLM (NASDAQ:SLM) had its price objective increased by Royal Bank of Canada from $30.00 to $32.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the credit services provider’s stock.

Several other equities analysts have also commented on the stock. Wells Fargo & Company raised their target price on shares of SLM from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Friday. Compass Point boosted their price objective on shares of SLM from $31.00 to $34.00 and gave the company a “buy” rating in a research report on Friday. 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, October 24th. Keefe, Bruyette & Woods boosted their price target on SLM from $30.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday. Finally, JPMorgan Chase & Co. raised their price objective on SLM from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.82.

SLM Stock Down 1.0 %

NASDAQ SLM opened at $29.01 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 0.79 and a beta of 1.21. The company has a 50 day moving average of $27.27 and a 200-day moving average of $23.89. SLM has a 1-year low of $18.84 and a 1-year high of $31.49.

SLM (NASDAQ:SLM) last released its earnings results 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%. On average, equities research analysts expect that SLM will post 2.72 earnings per share for the current fiscal year.

SLM Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.79%. The ex-dividend date is Wednesday, March 5th. SLM’s dividend payout ratio (DPR) is currently 18.12%.

Insider Transactions at SLM

In other news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction dated 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 owns 83,130 shares of the company’s stock, valued at approximately $2,265,292.50. This represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.20% of the stock is owned by company insiders.

Institutional Trading of SLM

Institutional investors have recently added to or reduced their stakes in the stock. Waldron Private Wealth LLC bought a new position in SLM during the 3rd quarter worth approximately $31,000. True Wealth Design LLC acquired a new stake in shares of SLM during the third quarter worth $31,000. Blue Trust Inc. raised its stake in SLM by 358.7% during the third 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 during the last quarter. Capital Performance Advisors LLP acquired a new position in SLM in the third quarter valued at $35,000. Finally, Covestor Ltd boosted its position in SLM by 110.3% during 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 during the last quarter. 98.94% of the stock is currently owned by 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.