SLM (NASDAQ:SLM) Price Target Raised to $25.00 at JPMorgan Chase & Co.

SLM (NASDAQ:SLM) had its price objective lifted by JPMorgan Chase & Co. from $23.00 to $25.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

A number of other equities research analysts have also commented on the company. Wedbush upped their price target on SLM from $25.00 to $29.00 and gave the company an outperform rating in a research report on Thursday. Keefe, Bruyette & Woods upped their price target on SLM from $25.00 to $27.00 and gave the company an outperform rating in a research report on Thursday. TD Cowen upped their price target on SLM from $25.00 to $27.00 and gave the company a buy rating in a research report on Tuesday, June 4th. Wells Fargo & Company upped their price target on SLM from $22.00 to $24.00 and gave the company an overweight rating in a research report on Thursday, April 18th. Finally, Royal Bank of Canada upped their price target on SLM from $24.00 to $25.00 and gave the company an outperform rating in a research report on Thursday, April 25th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, SLM has a consensus rating of Moderate Buy and a consensus target price of $24.00.

SLM Trading Down 1.2 %

Shares of SLM stock opened at $22.73 on Thursday. The firm has a market capitalization of $4.99 billion, a P/E ratio of 7.10, a P/E/G ratio of 0.44 and a beta of 1.17. SLM has a twelve month low of $12.26 and a twelve month high of $23.95. The company has a quick ratio of 1.23, a current ratio of 1.26 and a debt-to-equity ratio of 2.66. The stock’s fifty day simple moving average is $21.27 and its 200 day simple moving average is $20.83.

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

SLM Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, September 5th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, September 5th. This represents a $0.44 annualized dividend and a dividend yield of 1.94%. SLM’s payout ratio is 13.75%.

Institutional Investors Weigh In On SLM

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in SLM by 81.4% during the 4th quarter. Blue Trust Inc. now owns 1,328 shares of the credit services provider’s stock worth $25,000 after buying an additional 596 shares during the period. Daiwa Securities Group Inc. acquired a new position in SLM during the 4th quarter worth approximately $29,000. Hexagon Capital Partners LLC raised its stake in SLM by 1,373.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,326 shares of the credit services provider’s stock worth $29,000 after buying an additional 1,236 shares during the period. SYSTM Wealth Solutions LLC raised its stake in 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 buying an additional 494 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in SLM during the 4th quarter worth approximately $40,000. 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.