SLM Co. (NASDAQ:SLM) Sees Large Decrease in Short Interest

SLM Co. (NASDAQ:SLM) saw a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 5,920,000 shares, a decrease of 46.8% from the March 15th total of 11,120,000 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily volume of 3,190,000 shares, the days-to-cover ratio is currently 1.9 days.

Wall Street Analyst Weigh In

SLM has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on shares of SLM from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on shares of SLM from $30.00 to $27.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Compass Point boosted their target price on SLM from $31.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, January 24th. Morgan Stanley increased their price objective on shares of SLM from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, March 10th. Finally, Barclays increased their price target on SLM from $34.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, SLM currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.18.

SLM Stock Performance

SLM traded up $0.50 during trading hours on Friday, hitting $26.78. The stock had a trading volume of 1,979,295 shares, compared to its average volume of 2,178,612. The company’s fifty day simple moving average is $28.91 and its 200 day simple moving average is $26.94. SLM has a 1 year low of $19.39 and a 1 year high of $32.65. The company has a quick ratio of 1.27, a current ratio of 1.32 and a debt-to-equity ratio of 3.37. The stock has a market cap of $5.64 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05.

SLM (NASDAQ:SLM) last issued its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.06). SLM had a net margin of 20.73% and a return on equity of 31.66%. Equities analysts anticipate that SLM will post 3.07 earnings per share for the current year.

SLM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $0.52 annualized dividend and a yield of 1.94%. SLM’s dividend payout ratio is currently 19.62%.

Insider Activity

In related news, Director Robert S. Strong sold 40,000 shares of SLM stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total transaction of $1,142,800.00. Following the completion of the sale, the director now directly owns 43,163 shares of the company’s stock, valued at approximately $1,233,166.91. This trade represents a 48.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.

Institutional Trading of SLM

Hedge funds and other institutional investors have recently bought and sold shares of the company. CENTRAL TRUST Co bought a new position in SLM in the 1st quarter worth about $132,000. QRG Capital Management Inc. grew its stake in shares of SLM by 10.9% during the first quarter. QRG Capital Management Inc. now owns 11,516 shares of the credit services provider’s stock valued at $338,000 after buying an additional 1,129 shares during the last quarter. Shikiar Asset Management Inc. boosted its holdings in shares of SLM by 6.9% in the first quarter. Shikiar Asset Management Inc. now owns 218,550 shares of the credit services provider’s stock worth $6,419,000 after buying an additional 14,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in SLM by 2.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,415 shares of the credit services provider’s stock worth $1,040,000 after acquiring an additional 706 shares during the period. Finally, Fifth Third Bancorp lifted its position in SLM by 37.7% during the first quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider’s stock valued at $50,000 after purchasing an additional 469 shares in the last quarter. Institutional investors own 98.94% 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.