SLM (NASDAQ:SLM) Price Target Cut to $26.00

SLM (NASDAQ:SLM) had its price target dropped by analysts at Wedbush from $29.00 to $26.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the credit services provider’s stock. Wedbush’s price objective would indicate a potential upside of 18.99% from the company’s previous close.

Several other equities analysts have also recently weighed in on SLM. Royal Bank of Canada raised their price objective on SLM from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on shares of SLM from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. 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. Finally, TD Cowen boosted their target price on SLM from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Three 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

SLM Price Performance

Shares of NASDAQ:SLM opened at $21.85 on Tuesday. SLM has a twelve month low of $12.26 and a twelve month high of $23.95. The stock’s 50 day moving average is $21.50 and its 200-day moving average is $21.26. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 2.66. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 6.83, a PEG ratio of 0.43 and a beta of 1.15.

SLM (NASDAQ:SLM) last released its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.32. The firm had revenue of $783.28 million for the quarter, compared to the consensus estimate of $368.97 million. SLM had a net margin of 24.67% and a return on equity of 41.84%. During the same quarter in the prior year, the company posted $1.10 earnings per share. Sell-side analysts forecast that SLM will post 2.83 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the completion of the sale, the director now owns 101,093 shares of the company’s stock, valued at approximately $2,294,811.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.20% of the company’s stock.

Institutional Trading of SLM

A number of large investors have recently modified their holdings of the business. Hexagon Capital Partners LLC raised its stake in shares of SLM by 1,373.3% during the first quarter. Hexagon Capital Partners LLC now owns 1,326 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 1,236 shares during the last quarter. SYSTM Wealth Solutions LLC lifted its holdings in shares of SLM by 37.0% during the first quarter. SYSTM Wealth Solutions LLC now owns 1,828 shares of the credit services provider’s stock valued at $40,000 after purchasing an additional 494 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of SLM during the fourth quarter valued at approximately $40,000. Quarry LP boosted its position in shares of SLM by 78.6% in the 4th quarter. Quarry LP now owns 2,962 shares of the credit services provider’s stock worth $57,000 after purchasing an additional 1,304 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in SLM during the 2nd quarter valued at approximately $60,000. 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.