SLM Co. (SLM) to Issue Quarterly Dividend of $0.13 on December 16th

SLM Co. (NASDAQ:SLM) announced a quarterly dividend on Wednesday, October 23rd, Zacks reports. Stockholders of record on Thursday, December 5th will be given a dividend of 0.13 per share by the credit services provider on Monday, December 16th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, December 5th. This is a positive change from SLM’s previous quarterly dividend of $0.11.

SLM has raised its dividend payment by an average of 54.2% annually over the last three years. SLM has a dividend payout ratio of 14.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect SLM to earn $3.01 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 14.6%.

SLM Trading Down 2.6 %

NASDAQ:SLM opened at $22.21 on Friday. The business’s 50-day moving average is $21.92 and its two-hundred day moving average is $21.50. The firm has a market capitalization of $4.88 billion, a PE ratio of 6.94, a price-to-earnings-growth ratio of 0.60 and a beta of 1.15. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.26 and a quick ratio of 1.26. SLM has a 12 month low of $12.26 and a 12 month high of $23.95.

SLM (NASDAQ:SLM) last announced its earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.30). SLM had a net margin of 24.67% and a return on equity of 41.84%. During the same period last year, the company earned $0.11 EPS. Research analysts predict that SLM will post 2.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SLM. Royal Bank of Canada reissued an “outperform” rating and issued a $26.00 target price on shares of SLM in a research report on Thursday. Bank of America started coverage on SLM in a report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price objective for the company. Keefe, Bruyette & Woods increased their target price on SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their price target on SLM from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Wedbush restated an “outperform” rating and set a $26.00 price objective on shares of SLM in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $24.67.

Insider Activity

In related news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $22.70, for a total value of $102,150.00. Following the sale, the director now owns 101,093 shares of the company’s stock, valued at $2,294,811.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% 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.