Short Interest in SLM Co. (NASDAQ:SLMBP) Decreases By 26.7%

SLM Co. (NASDAQ:SLMBP) was the target of a significant decline in short interest during the month of March. As of March 13th, there was short interest totaling 11,087 shares, a decline of 26.7% from the February 26th total of 15,129 shares. Based on an average daily trading volume, of 3,489 shares, the days-to-cover ratio is presently 3.2 days.

SLM Price Performance

NASDAQ:SLMBP traded up $0.29 during mid-day trading on Friday, reaching $74.79. The company’s stock had a trading volume of 1,265 shares, compared to its average volume of 3,663. The firm’s fifty day moving average price is $74.84 and its two-hundred day moving average price is $74.90. SLM has a 12-month low of $65.50 and a 12-month high of $83.15.

SLM Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Thursday, March 5th were given a $1.4327 dividend. This represents a $5.73 dividend on an annualized basis and a yield of 7.7%. The ex-dividend date of this dividend was Thursday, March 5th.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Bank of America restated a “buy” rating on shares of SLM in a report on Monday, March 9th. Keefe, Bruyette & Woods restated a “market perform” rating on shares of SLM in a research note on Wednesday, December 10th. TD Cowen reiterated a “buy” rating on shares of SLM in a research note on Friday, December 5th. Finally, UBS Group set a $40.00 price target on shares of SLM in a research report on Friday, December 5th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

SLM Company Profile

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.