SLM Corporation (NASDAQ:SLM) Stock to Pay Quarterly Dividend of $0.13

SLM Corporation (NASDAQ:SLM) announced a quarterly dividend on Tuesday, October 20th. Investors of record on Friday, December 4th will be given a dividend of $0.13 per share by the credit services provider on Tuesday, December 15th. This represents a $0.52 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Friday, December 4th.

SLM has raised its dividend by an average of 0.3% per year over the last three years and has raised its dividend every year for the last 1 years. SLM has a payout ratio of 15.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect SLM to earn $3.41 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 15.2%.

SLM Price Performance

SLM stock traded up $0.40 on Wednesday, reaching $22.66. The company had a trading volume of 490,400 shares, compared to its average volume of 3,012,359. The company’s fifty day moving average is $24.85 and its 200 day moving average is $24.02. The company has a market cap of $4.26 billion, a P/E ratio of 6.33, a PEG ratio of 1.47 and a beta of 0.96. The company has a debt-to-equity ratio of 2.63, a quick ratio of 1.32 and a current ratio of 1.33. SLM has a 1 year low of $17.77 and a 1 year high of $31.06.

SLM (NASDAQ:SLM) last released its quarterly earnings results on Thursday, July 23rd. The credit services provider reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.17). The company had revenue of $401.11 million for the quarter, compared to analysts’ expectations of $409.22 million. SLM had a return on equity of 33.81% and a net margin of 26.09%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. SLM has set its FY 2026 guidance at 3.100-3.200 EPS. On average, research analysts forecast that SLM will post 3.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on SLM shares. Morgan Stanley increased their price objective on SLM from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Monday, July 20th. Barclays reiterated an “equal weight” rating and set a $26.00 price objective (down from $30.00) on shares of SLM in a research report on Tuesday, July 7th. Royal Bank Of Canada cut their target price on shares of SLM from $29.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, October 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of SLM in a research note on Monday, September 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of SLM from $25.00 to $22.00 and set an “underweight” rating on the stock in a report on Monday, October 12th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SLM currently has an average rating of “Hold” and a consensus price target of $29.22.

About SLM

SLM Corp., commonly known as Sallie Mae, is a financial services company focused on helping students and families finance higher education. Its primary business is the origination and servicing of private education loans, which can help cover tuition, fees, books, housing and other eligible education-related expenses not fully covered by federal student aid.

The company offers private student loans for undergraduate and graduate education, as well as loans for career-training programs and other education needs.