SLM Co. (NASDAQ:SLM) Receives $24.83 Consensus Target Price from Brokerages

SLM Co. (NASDAQ:SLM) has been assigned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $24.67.

Several brokerages have commented on SLM. Bank of America initiated coverage on shares of SLM in a report on Wednesday, September 25th. They issued a “buy” rating and a $27.00 price objective for the company. Barclays lowered their target price on SLM from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on SLM from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lowered their price objective on SLM from $25.00 to $24.00 and set a “neutral” rating for the company in a research report on Monday, October 7th. Finally, Keefe, Bruyette & Woods upped their target price on shares of SLM from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th.

SLM Price Performance

Shares of SLM stock opened at $22.21 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market cap of $4.88 billion, a P/E ratio of 6.94, a P/E/G ratio of 0.60 and a beta of 1.15. The business’s 50 day moving average price is $21.92 and its 200-day moving average price is $21.50. SLM has a fifty-two week low of $12.26 and a fifty-two week high of $23.95.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.30). SLM had a net margin of 24.67% and a return on equity of 41.84%. During the same quarter in the previous year, the company earned $0.11 EPS. On average, equities research analysts anticipate that SLM will post 2.85 earnings per share for the current year.

Insider Buying and Selling

In other SLM news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the transaction, the director now owns 101,093 shares of the company’s stock, valued at approximately $2,294,811.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Klein Pavlis & Peasley Financial Inc. purchased a new stake in shares of SLM in the 3rd quarter worth $211,000. State of Alaska Department of Revenue grew its holdings in SLM by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 25,617 shares of the credit services provider’s stock valued at $585,000 after purchasing an additional 1,710 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in SLM by 194.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 33,273 shares of the credit services provider’s stock valued at $761,000 after purchasing an additional 21,984 shares during the period. Mraz Amerine & Associates Inc. bought a new position in shares of SLM in the third quarter worth about $240,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of SLM by 3,800.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,406,384 shares of the credit services provider’s stock valued at $55,034,000 after buying an additional 2,344,691 shares in the last quarter. 98.94% of the stock is currently owned by institutional investors.

About SLM

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.