SLM (NASDAQ:SLM) Price Target Raised to $29.00

SLM (NASDAQ:SLM) had its target price upped by JPMorgan Chase & Co. from $27.00 to $29.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a neutral rating on the credit services provider’s stock.

A number of other analysts have also recently weighed in on the company. Barclays cut their price target on SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley boosted their target price on SLM from $26.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 price target on shares of SLM in a research note on Thursday, October 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $30.00 price objective (up previously from $27.00) on shares of SLM in a research report on Monday, December 9th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.90.

SLM Stock Performance

Shares of SLM opened at $28.13 on Tuesday. SLM has a 1 year low of $18.25 and a 1 year high of $28.91. The stock has a market capitalization of $5.97 billion, a PE ratio of 9.80, a PEG ratio of 0.73 and a beta of 1.21. The company has a debt-to-equity ratio of 3.21, a quick ratio of 1.27 and a current ratio of 1.29. The stock has a 50-day simple moving average of $26.62 and a 200-day simple moving average of $23.53.

SLM (NASDAQ:SLM) last posted its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.30). SLM had a return on equity of 35.92% and a net margin of 22.18%. The firm had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. During the same quarter last year, the firm earned $0.11 EPS. On average, analysts predict that SLM will post 2.72 earnings per share for the current fiscal year.

SLM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were paid a $0.13 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This is a positive change from SLM’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 1.85%. SLM’s payout ratio is currently 18.12%.

Insider Transactions at SLM

In other news, Director Robert S. Strong sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $27.25, for a total value of $122,625.00. Following the transaction, the director now owns 83,130 shares of the company’s stock, valued at approximately $2,265,292.50. The trade was a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On SLM

A number of hedge funds and other institutional investors have recently bought and sold shares of SLM. Waldron Private Wealth LLC acquired a new stake in shares of SLM in the 3rd quarter worth $31,000. True Wealth Design LLC acquired a new stake in SLM in the third quarter valued at about $31,000. Blue Trust Inc. increased its position in SLM by 358.7% during the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider’s stock worth $32,000 after purchasing an additional 1,094 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of SLM during the 3rd quarter worth approximately $35,000. Finally, Covestor Ltd lifted its holdings in shares of SLM by 110.3% in the 3rd quarter. Covestor Ltd now owns 4,404 shares of the credit services provider’s stock valued at $101,000 after buying an additional 2,310 shares during the period. 98.94% of the stock is currently owned by hedge funds and other institutional investors.

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.