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

SLM Co. (NASDAQ:SLMBP) was the recipient of a large decline in short interest in the month of January. As of January 15th, there was short interest totaling 6,585 shares, a decline of 79.0% from the December 31st total of 31,311 shares. Based on an average daily volume of 3,134 shares, the short-interest ratio is currently 2.1 days. Based on an average daily volume of 3,134 shares, the short-interest ratio is currently 2.1 days.

Wall Street Analyst Weigh In

SLMBP has been the subject of several recent analyst reports. TD Cowen reissued a “buy” rating on shares of SLM in a research note on Friday, December 5th. Keefe, Bruyette & Woods reiterated a “market perform” rating on shares of SLM in a research report on Wednesday, December 10th. Finally, UBS Group set a $40.00 target price on shares of SLM in a research note on Friday, December 5th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.00.

SLM Trading Down 0.0%

NASDAQ SLMBP traded down $0.01 on Wednesday, hitting $74.87. 301 shares of the stock were exchanged, compared to its average volume of 3,600. The company’s 50-day moving average price is $74.18 and its two-hundred day moving average price is $75.19. SLM has a 52-week low of $65.50 and a 52-week high of $83.15.

SLM Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Thursday, March 5th will be paid a $1.4327 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $5.73 annualized dividend and a dividend yield of 7.7%.

About SLM

SLM Corporation, doing business as Sallie Mae, is a U.S.-based provider of private student loans, servicing, and banking products. The company specializes in originating and servicing education loans for undergraduate, graduate and professional students, as well as career and technical training programs. In addition to its core student lending business, Sallie Mae offers deposit products, credit cards and digital tools designed to help customers manage personal finances and plan for higher-education expenses.

Sallie Mae’s product suite includes fixed- and variable-rate private student loans, graduate student loans, parent loans and career training loans.