SLM (NASDAQ:SLM) Hits New 12-Month High at $19.03


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SLM Co. (NASDAQ:SLM)’s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $19.03 and last traded at $18.80, with a volume of 23821 shares traded. The stock had previously closed at $18.81.

A number of research analysts have issued reports on SLM shares. Royal Bank of Canada upgraded shares of SLM from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $15.00 to $20.00 in a research report on Friday, January 29th. Barclays increased their target price on shares of SLM from $15.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, January 29th. JPMorgan Chase & Co. increased their target price on shares of SLM from $10.50 to $15.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 19th. Credit Suisse Group increased their target price on shares of SLM from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, January 29th. Finally, Wedbush reaffirmed an “outperform” rating on shares of SLM in a report on Tuesday, January 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.94.

The firm has a market cap of $6.78 billion, a P/E ratio of 13.34 and a beta of 1.40. The company has a debt-to-equity ratio of 2.75, a quick ratio of 1.22 and a current ratio of 1.22. The company’s 50 day moving average is $16.65 and its 200 day moving average is $12.68.

SLM (NASDAQ:SLM) last issued its quarterly earnings data on Tuesday, January 26th. The credit services provider reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.80. The business had revenue of $366.54 million during the quarter, compared to the consensus estimate of $370.89 million. SLM had a net margin of 23.87% and a return on equity of 28.69%. During the same quarter in the prior year, the firm earned $0.33 EPS. On average, equities research analysts anticipate that SLM Co. will post 1.37 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Friday, March 5th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.64%. The ex-dividend date was Thursday, March 4th. SLM’s payout ratio is 9.45%.

SLM declared that its Board of Directors has approved a stock buyback plan on Wednesday, January 27th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the credit services provider to buy up to 23.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

In other SLM news, Director Mary Carter Warren Franke purchased 7,000 shares of the firm’s stock in a transaction on Wednesday, February 17th. The stock was purchased at an average cost of $15.03 per share, for a total transaction of $105,210.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.45% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rhumbline Advisers increased its position in shares of SLM by 1.1% during the fourth quarter. Rhumbline Advisers now owns 1,019,928 shares of the credit services provider’s stock worth $12,637,000 after buying an additional 11,369 shares during the period. AQR Capital Management LLC increased its position in shares of SLM by 52.9% during the third quarter. AQR Capital Management LLC now owns 3,094,786 shares of the credit services provider’s stock worth $25,037,000 after buying an additional 1,071,129 shares during the period. Impactive Capital LP increased its position in shares of SLM by 46.3% during the fourth quarter. Impactive Capital LP now owns 6,994,139 shares of the credit services provider’s stock worth $86,657,000 after buying an additional 2,213,488 shares during the period. Prudential PLC acquired a new stake in shares of SLM during the fourth quarter worth $308,000. Finally, Kendall Capital Management increased its position in shares of SLM by 0.7% during the fourth quarter. Kendall Capital Management now owns 98,308 shares of the credit services provider’s stock worth $1,218,000 after buying an additional 685 shares during the period. Hedge funds and other institutional investors own 95.67% of the company’s stock.

About SLM (NASDAQ: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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and omnibus accounts.

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