Compass Point Boosts SLM (NASDAQ:SLM) Price Target to $34.00

SLM (NASDAQ:SLM) had its price target lifted by Compass Point from $31.00 to $34.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the credit services provider’s stock.

Several other research analysts also recently commented on SLM. Barclays decreased their price objective on SLM from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Wedbush reissued an “outperform” rating and issued a $26.00 target price on shares of SLM in a research note on Thursday, October 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $26.00 price objective on shares of SLM in a research report on Thursday, October 24th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $30.00 target price (up previously from $27.00) on shares of SLM in a report on Monday, December 9th. Finally, Morgan Stanley lifted their price target on shares of SLM from $26.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, SLM has an average rating of “Moderate Buy” and a consensus price target of $29.82.

SLM Price Performance

SLM opened at $29.01 on Friday. The stock has a market capitalization of $6.16 billion, a P/E ratio of 10.11, a PEG ratio of 0.79 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. SLM has a 12-month low of $18.84 and a 12-month high of $31.49. The stock has a 50-day moving average price of $27.27 and a 200-day moving average price of $23.89.

SLM (NASDAQ:SLM) last issued its quarterly earnings results on Thursday, January 23rd. The credit services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). SLM had a net margin of 22.18% and a return on equity of 35.92%. Equities analysts predict that SLM will post 2.72 earnings per share for the current fiscal year.

SLM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, March 5th. SLM’s payout ratio is currently 18.12%.

Insider Buying and Selling at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of SLM stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $27.25, for a total transaction of $122,625.00. Following the completion of the transaction, the director now owns 83,130 shares in the company, valued at approximately $2,265,292.50. The trade was a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On SLM

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

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.