SLM Co. (SLM) To Go Ex-Dividend on December 5th

SLM Co. (NASDAQ:SLM) declared a quarterly dividend on Tuesday, October 22nd,Zacks Dividends reports. Stockholders of record on Thursday, December 5th will be paid 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 1.96%. The ex-dividend date is Thursday, December 5th. This is an increase from SLM’s previous quarterly dividend of $0.11.

SLM has increased its dividend payment by an average of 54.2% per year over the last three years. SLM has a dividend payout ratio of 17.3% meaning its dividend is sufficiently covered by earnings. 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 Down 3.0 %

NASDAQ SLM opened at $26.56 on Tuesday. SLM has a 1-year low of $15.64 and a 1-year high of $28.22. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 1.16 and a beta of 1.21. 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’s 50 day moving average is $23.46 and its two-hundred day moving average is $22.01.

SLM (NASDAQ:SLM) last posted its quarterly earnings data 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). The firm had revenue of $652.64 million for the quarter, compared to the consensus estimate of $363.40 million. SLM had a return on equity of 35.92% and a net margin of 22.18%. During the same quarter in the previous year, the business earned $0.11 EPS. Equities analysts forecast that SLM will post 2.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SLM. JPMorgan Chase & Co. cut their price target on shares of SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Wedbush reaffirmed an “outperform” rating and set a $26.00 price target on shares of SLM in a research note on Thursday, October 24th. Royal Bank of Canada restated an “outperform” rating and issued a $26.00 price target on shares of SLM in a research note on Thursday, October 24th. Barclays decreased their target price on shares of SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Bank of America assumed coverage on shares of SLM in a research note on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.45.

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.