SLM (NASDAQ:SLM) Stock Rating Lowered by Wall Street Zen

SLM (NASDAQ:SLM) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently weighed in on SLM. Wells Fargo & Company started coverage on shares of SLM in a research note on Monday, August 25th. They set an “overweight” rating and a $38.00 price target on the stock. Keefe, Bruyette & Woods decreased their price target on shares of SLM from $37.00 to $31.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of SLM in a research note on Wednesday, October 8th. Morgan Stanley decreased their price target on shares of SLM to $40.00 and set an “overweight” rating on the stock in a research note on Monday, September 29th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $29.00 price target (down previously from $38.00) on shares of SLM in a research note on Tuesday, October 7th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $33.89.

SLM Trading Down 2.9%

Shares of SLM stock opened at $25.67 on Friday. SLM has a 1 year low of $21.10 and a 1 year high of $34.97. The firm’s fifty day simple moving average is $29.73 and its 200 day simple moving average is $30.60. The firm has a market capitalization of $5.35 billion, a P/E ratio of 12.90, a price-to-earnings-growth ratio of 0.73 and a beta of 1.11. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 3.02.

SLM (NASDAQ:SLM) last announced its earnings results on Monday, February 14th. The credit services provider reported $1.15 earnings per share (EPS) for the quarter. SLM had a net margin of 15.46% and a return on equity of 21.93%. The business had revenue of ($3.44) million for the quarter. SLM has set its FY 2022 guidance at $2.800-$3.000 EPS. As a group, sell-side analysts predict that SLM will post 3.07 EPS for the current year.

Insider Activity at SLM

In other news, EVP Kerri A. Palmer sold 55,000 shares of the company’s stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $32.21, for a total value of $1,771,550.00. Following the completion of the sale, the executive vice president directly owned 119,253 shares of the company’s stock, valued at $3,841,139.13. This represents a 31.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of SLM

Institutional investors and hedge funds have recently modified their holdings of the stock. Captrust Financial Advisors increased its stake in SLM by 6.1% during the 2nd quarter. Captrust Financial Advisors now owns 36,889 shares of the credit services provider’s stock worth $1,210,000 after purchasing an additional 2,109 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of SLM by 118.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,995 shares of the credit services provider’s stock valued at $131,000 after buying an additional 2,164 shares during the last quarter. Amalgamated Bank boosted its holdings in shares of SLM by 0.3% in the 2nd quarter. Amalgamated Bank now owns 96,570 shares of the credit services provider’s stock valued at $3,167,000 after buying an additional 326 shares during the last quarter. Meritage Portfolio Management boosted its holdings in shares of SLM by 2.8% in the 2nd quarter. Meritage Portfolio Management now owns 16,780 shares of the credit services provider’s stock valued at $550,000 after buying an additional 464 shares during the last quarter. Finally, City Holding Co. bought a new stake in SLM in the 2nd quarter valued at $25,000. 98.94% of the stock is owned by institutional investors.

SLM Company 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.