SLM (NASDAQ:SLM) Price Target Raised to $40.00

SLM (NASDAQ:SLM) had its price target lifted by investment analysts at TD Cowen from $39.00 to $40.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the credit services provider’s stock. TD Cowen’s price target would suggest a potential upside of 31.00% from the stock’s current price.

A number of other equities research analysts have also issued reports on SLM. Wells Fargo & Company boosted their target price on SLM from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday. Morgan Stanley decreased their target price on shares of SLM from $37.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Keefe, Bruyette & Woods dropped their target price on shares of SLM from $37.00 to $31.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 1st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $29.00 price target (down previously from $38.00) on shares of SLM in a research report on Tuesday, October 7th. Finally, Royal Bank Of Canada lifted their price objective on shares of SLM from $31.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, October 24th. Nine investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.67.

SLM Stock Performance

SLM traded up $0.38 on Friday, hitting $30.54. 855,247 shares of the company’s stock were exchanged, compared to its average volume of 2,632,980. The stock has a fifty day moving average of $27.43 and a two-hundred day moving average of $30.26. The firm has a market cap of $6.20 billion, a PE ratio of 10.72, a P/E/G ratio of 0.71 and a beta of 1.14. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 3.27. SLM has a twelve month low of $23.81 and a twelve month high of $34.97.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Brave Warrior Advisors LLC purchased a new stake in shares of SLM during the 1st quarter valued at about $277,704,000. American Century Companies Inc. grew its holdings in SLM by 2.9% in the 1st quarter. American Century Companies Inc. now owns 5,325,274 shares of the credit services provider’s stock worth $156,403,000 after buying an additional 149,629 shares in the last quarter. Northern Trust Corp raised its position in shares of SLM by 0.6% during the 1st quarter. Northern Trust Corp now owns 2,654,575 shares of the credit services provider’s stock worth $77,965,000 after buying an additional 15,662 shares in the last quarter. Millennium Management LLC raised its stake in shares of SLM by 378.4% in the 1st quarter. Millennium Management LLC now owns 2,633,072 shares of the credit services provider’s stock worth $77,333,000 after buying an additional 2,082,687 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of SLM by 0.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,802,829 shares of the credit services provider’s stock worth $52,949,000 after purchasing an additional 12,264 shares during the last quarter. 98.94% of the stock is currently owned by hedge funds and other 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.