SLM Co. (NASDAQ:SLM) Declares $0.13 Quarterly Dividend

SLM Co. (NASDAQ:SLM) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Shareholders of record on Wednesday, March 5th will be paid a dividend of 0.13 per share by the credit services provider on Monday, March 17th. This represents a $0.52 annualized dividend and a yield of 1.79%.

SLM has increased its dividend payment by an average of 32.0% per year over the last three years. SLM has a dividend payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SLM to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 16.8%.

SLM Stock Performance

Shares of NASDAQ:SLM traded up $0.51 during midday trading on Wednesday, hitting $29.08. The stock had a trading volume of 3,093,366 shares, compared to its average volume of 2,620,174. SLM has a 1 year low of $18.84 and a 1 year high of $29.20. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. The stock has a 50 day moving average price of $26.97 and a two-hundred day moving average price of $23.75. The company has a market capitalization of $6.17 billion, a PE ratio of 10.13, a P/E/G ratio of 0.76 and a beta of 1.21.

SLM (NASDAQ:SLM) last announced its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). The business had revenue of $652.64 million during the quarter, compared to analysts’ expectations of $363.40 million. SLM had a net margin of 22.18% and a return on equity of 35.92%. During the same period in the prior year, the firm posted $0.11 EPS. As a group, equities analysts predict that SLM will post 2.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $26.00 target price on shares of SLM in a report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $30.00 price objective (up previously from $27.00) on shares of SLM in a research note on Monday, December 9th. JPMorgan Chase & Co. upped their target price on shares of SLM from $27.00 to $29.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Wedbush reiterated an “outperform” rating and set a $26.00 price target on shares of SLM in a research report on Thursday, October 24th. Finally, 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. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $27.90.

Insider Activity

In related news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $27.25, for a total transaction of $122,625.00. Following the completion of the sale, the director now owns 83,130 shares of the company’s stock, valued at approximately $2,265,292.50. This represents a 5.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.20% 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.