SLM (NASDAQ:SLM) Given New $23.00 Price Target at JPMorgan Chase & Co.

SLM (NASDAQ:SLM) had its price objective lifted by JPMorgan Chase & Co. from $22.00 to $23.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the credit services provider’s stock.

Several other brokerages have also recently issued reports on SLM. Royal Bank of Canada boosted their price objective on shares of SLM from $21.00 to $22.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Deutsche Bank Aktiengesellschaft began coverage on shares of SLM in a research note on Wednesday, January 10th. They set a buy rating and a $25.00 price target on the stock. Citigroup raised shares of SLM from a neutral rating to a buy rating and upped their price target for the stock from $14.00 to $23.00 in a research note on Tuesday, January 16th. Wedbush upped their price target on shares of SLM from $26.00 to $28.00 and gave the stock an outperform rating in a research note on Thursday. Finally, TheStreet raised shares of SLM from a c+ rating to a b rating in a research note on Wednesday, January 24th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, SLM has a consensus rating of Moderate Buy and an average target price of $21.32.

SLM Trading Down 0.3 %

Shares of SLM traded down $0.07 during mid-day trading on Thursday, reaching $21.86. The stock had a trading volume of 1,029,630 shares, compared to its average volume of 2,141,878. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.22 and a quick ratio of 1.22. SLM has a 52-week low of $12.26 and a 52-week high of $22.37. The business’s fifty day moving average is $20.91 and its 200 day moving average is $18.17. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 6.85, a P/E/G ratio of 0.45 and a beta of 1.16.

SLM (NASDAQ:SLM) last announced its earnings results on Wednesday, April 24th. The credit services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.18. The company had revenue of $837.72 million during the quarter, compared to analyst estimates of $376.43 million. SLM had a net margin of 25.15% and a return on equity of 47.72%. During the same quarter last year, the firm posted $0.47 earnings per share. On average, sell-side analysts predict that SLM will post 2.72 EPS for the current fiscal year.

SLM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, June 6th will be issued a $0.11 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $0.44 dividend on an annualized basis and a yield of 2.01%. SLM’s dividend payout ratio (DPR) is 13.75%.

SLM declared that its board has initiated a share buyback plan on Wednesday, January 24th that permits the company to repurchase $650.00 million in outstanding shares. This repurchase authorization permits the credit services provider to purchase up to 14.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at SLM

In other SLM news, SVP Jonathan Boyles sold 94,078 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $20.72, for a total value of $1,949,296.16. Following the transaction, the senior vice president now directly owns 52,751 shares in the company, valued at approximately $1,093,000.72. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Jonathan Boyles sold 94,078 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $20.72, for a total transaction of $1,949,296.16. Following the transaction, the senior vice president now directly owns 52,751 shares in the company, valued at approximately $1,093,000.72. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Donna F. Vieira sold 12,308 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $20.27, for a total transaction of $249,483.16. Following the transaction, the executive vice president now owns 126,500 shares in the company, valued at $2,564,155. The disclosure for this sale can be found here. 0.91% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SLM. Blue Trust Inc. grew its position in SLM by 81.4% in the fourth quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock valued at $25,000 after acquiring an additional 596 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in SLM in the fourth quarter valued at approximately $29,000. Hexagon Capital Partners LLC grew its position in SLM by 1,373.3% in 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 in the last quarter. SYSTM Wealth Solutions LLC grew its position in SLM by 37.0% in the first quarter. SYSTM Wealth Solutions LLC now owns 1,828 shares of the credit services provider’s stock valued at $40,000 after acquiring an additional 494 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in shares of SLM during the fourth quarter worth approximately $40,000. Hedge funds and other 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.