Morgan Stanley Issues Positive Forecast for SLM (NASDAQ:SLM) Stock Price

SLM (NASDAQ:SLM) had its price target boosted by equities researchers at Morgan Stanley from $26.00 to $32.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the credit services provider’s stock. Morgan Stanley’s price target indicates a potential upside of 17.47% from the stock’s current price.

Several other analysts have also weighed in on SLM. Royal Bank of Canada reiterated an “outperform” rating and set a $26.00 target price on shares of SLM in a research note on Thursday, October 24th. Barclays cut their target price on shares of 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 reaffirmed a “market perform” rating and set a $30.00 target price (up from $27.00) on shares of SLM in a report on Monday, December 9th. Bank of America initiated coverage on SLM in a report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Wedbush reaffirmed an “outperform” rating and issued a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.27.

SLM Stock Up 1.4 %

Shares of NASDAQ SLM traded up $0.37 on Thursday, hitting $27.24. The company had a trading volume of 1,892,689 shares, compared to its average volume of 1,878,303. The firm has a market capitalization of $5.78 billion, a P/E ratio of 9.49, a PEG ratio of 0.85 and a beta of 1.21. The company has a quick ratio of 1.27, a current ratio of 1.29 and a debt-to-equity ratio of 3.21. SLM has a 12-month low of $18.04 and a 12-month high of $28.22. The business has a 50 day moving average of $24.62 and a two-hundred day moving average of $22.54.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). The firm had revenue of $652.64 million during the quarter, compared to analyst estimates of $363.40 million. SLM had a return on equity of 35.92% and a net margin of 22.18%. During the same quarter in the prior year, the firm earned $0.11 EPS. As a group, equities research analysts forecast that SLM will post 2.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Robert S. Strong sold 4,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $27.25, for a total value of $122,625.00. Following the sale, the director now owns 83,130 shares in the company, valued at approximately $2,265,292.50. The trade was a 5.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Institutional Trading of SLM

A number of institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new stake in SLM in the 2nd quarter valued at $235,000. Allspring Global Investments Holdings LLC grew its stake in shares of SLM by 119.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 12,979 shares of the credit services provider’s stock worth $270,000 after acquiring an additional 7,076 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of SLM in the second quarter valued at approximately $60,000. Commonwealth Equity Services LLC bought a new stake in shares of SLM in the second quarter worth $298,000. Finally, National Bank of Canada FI boosted its holdings in SLM by 2.2% during the second quarter. National Bank of Canada FI now owns 58,990 shares of the credit services provider’s stock worth $1,217,000 after purchasing an additional 1,278 shares during the last quarter. Institutional investors and hedge funds 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.