SLM (NASDAQ:SLM) PT Lowered to $26.00 at Wedbush

SLM (NASDAQ:SLM) had its price target decreased by Wedbush from $29.00 to $26.00 in a research note released on Tuesday morning, Benzinga reports. Wedbush currently has an outperform rating on the credit services provider’s stock.

SLM has been the topic of several other research reports. JPMorgan Chase & Co. boosted their price target on shares of SLM from $23.00 to $25.00 and gave the company a neutral rating in a report on Thursday, July 25th. Royal Bank of Canada upped their price objective on SLM from $25.00 to $27.00 and gave the stock an outperform rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods upped their target price 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 target price on SLM from $25.00 to $29.00 and gave the company a buy rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company raised their price objective on SLM from $24.00 to $27.00 and gave the stock an overweight rating in a research note on Friday, July 26th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $24.00.

SLM Trading Up 1.4 %

SLM stock opened at $22.56 on Tuesday. The company’s fifty day moving average price is $21.47 and its two-hundred day moving average price is $21.28. SLM has a one year low of $12.26 and a one year high of $23.95. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $4.91 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 0.42 and a beta of 1.15.

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

SLM Dividend Announcement

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

Insider Transactions at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of the business’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 transaction of $102,150.00. Following the transaction, the director now owns 101,093 shares of the company’s stock, valued at $2,294,811.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On SLM

A number of institutional investors have recently made changes to their positions in SLM. Hexagon Capital Partners LLC grew its position in 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 worth $29,000 after buying an additional 1,236 shares in the last quarter. SYSTM Wealth Solutions LLC grew its position 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 acquiring an additional 494 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in SLM during the 4th quarter worth approximately $40,000. International Assets Investment Management LLC acquired a new stake in SLM in the second quarter valued at $60,000. Finally, Quarry LP lifted its stake in shares of SLM by 78.6% in the fourth quarter. Quarry LP now owns 2,962 shares of the credit services provider’s stock worth $57,000 after acquiring 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.