Analysts Set SLM Co. (NASDAQ:SLM) Price Target at $24.00

Shares of SLM Co. (NASDAQ:SLM) have earned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $24.00.

SLM has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of SLM from $25.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price objective on SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Bank of America started coverage on SLM in a research note on Wednesday. They issued a “buy” rating and a $27.00 target price on the stock. Wells Fargo & Company raised their target price 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, Keefe, Bruyette & Woods lifted their price objective on shares of SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th.

SLM Price Performance

SLM stock opened at $22.56 on Monday. The business’s 50 day simple moving average is $21.47 and its 200 day simple moving average is $21.28. SLM has a 12 month low of $12.26 and a 12 month high of $23.95. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 0.42 and a beta of 1.15. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 2.66.

SLM (NASDAQ:SLM) last released its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.79 by $0.32. The business 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 period in the prior year, the firm earned $1.10 earnings per share. Sell-side analysts forecast that SLM will post 2.83 EPS for the current year.

SLM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, September 5th. SLM’s dividend payout ratio (DPR) is 13.75%.

Insider Activity at SLM

In related news, Director Robert S. Strong sold 4,500 shares of the company’s 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 of the company’s stock, valued at approximately $2,294,811.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SLM

Large investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC lifted its stake in shares of SLM by 1,373.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,326 shares of the credit services provider’s stock worth $29,000 after purchasing an additional 1,236 shares during the period. SYSTM Wealth Solutions LLC boosted its stake in shares of SLM by 37.0% during the 1st quarter. SYSTM Wealth Solutions LLC now owns 1,828 shares of the credit services provider’s stock worth $40,000 after acquiring an additional 494 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of SLM during the 4th quarter valued at $40,000. International Assets Investment Management LLC purchased a new stake in shares of SLM in the 2nd quarter worth $60,000. Finally, Quarry LP raised its holdings in 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 during the period. 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.