Rhumbline Advisers Sells 10,501 Shares of SLM Corporation $SLM

Rhumbline Advisers decreased its position in shares of SLM Corporation (NASDAQ:SLM) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 579,868 shares of the credit services provider’s stock after selling 10,501 shares during the period. Rhumbline Advisers owned 0.28% of SLM worth $19,014,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. City Holding Co. purchased a new stake in shares of SLM in the second quarter worth $25,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in SLM in the 1st quarter worth $45,000. Headlands Technologies LLC purchased a new stake in SLM in the 1st quarter worth $62,000. Anchor Investment Management LLC bought a new stake in SLM during the first quarter valued at about $94,000. Finally, Quarry LP purchased a new position in shares of SLM in the first quarter valued at about $109,000. Hedge funds and other institutional investors own 98.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SLM. Keefe, Bruyette & Woods cut their target price on SLM from $37.00 to $31.00 and set a “market perform” rating for the company in a research report on Wednesday, October 1st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $29.00 price target (down from $38.00) on shares of SLM in a research note on Tuesday, October 7th. Wall Street Zen upgraded shares of SLM from a “sell” rating to a “hold” rating in a research report on Saturday, October 25th. Barclays cut their target price on shares of SLM from $43.00 to $35.00 and set an “overweight” rating for the company in a research note on Monday, October 6th. Finally, Morgan Stanley decreased their price target on shares of SLM from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.63.

SLM Trading Down 0.3%

Shares of SLM opened at $28.97 on Friday. The stock has a market capitalization of $5.88 billion, a PE ratio of 10.16, a P/E/G ratio of 0.64 and a beta of 1.16. The company’s fifty day moving average is $27.30 and its 200 day moving average is $30.36. The company has a debt-to-equity ratio of 3.27, a quick ratio of 1.37 and a current ratio of 1.37. SLM Corporation has a fifty-two week low of $23.81 and a fifty-two week high of $34.97.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Monday, February 14th. The credit services provider reported $1.15 earnings per share (EPS) for the quarter. SLM had a return on equity of 30.13% and a net margin of 21.76%.The business had revenue of ($3.44) million for the quarter. SLM has set its FY 2022 guidance at $2.800-$3.000 EPS. Sell-side analysts expect that SLM Corporation will post 3.07 earnings per share for the current fiscal year.

SLM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Thursday, December 4th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Thursday, December 4th. SLM’s dividend payout ratio (DPR) is currently 18.25%.

SLM 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.