JPMorgan Chase & Co. Issues Positive Forecast for SLM (NASDAQ:SLM) Stock Price

SLM (NASDAQ:SLM - Free Report) had its price objective hoisted by JPMorgan Chase & Co. from $29.00 to $30.00 in a report released on Friday,Benzinga reports. The firm currently has a neutral rating on the credit services provider's stock.

Several other research firms have also issued reports on SLM. Wedbush restated an "outperform" rating and issued a $26.00 target price on shares of SLM in a report on Thursday, October 24th. Keefe, Bruyette & Woods upped their target price on SLM from $30.00 to $32.00 and gave the company a "market perform" rating in a research report on Friday. Royal Bank of Canada reiterated an "outperform" rating and issued a $26.00 target price on shares of SLM in a report on Thursday, October 24th. Wells Fargo & Company increased their price target on SLM from $32.00 to $33.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Barclays lowered their price objective on shares of SLM from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, SLM currently has an average rating of "Moderate Buy" and an average target price of $29.82.

SLM Trading Down 1.0 %

SLM traded down $0.29 during midday trading on Friday, hitting $29.01. 5,580,619 shares of the company were exchanged, compared to its average volume of 2,019,695. The firm has a market capitalization of $6.16 billion, a P/E ratio of 10.11, a P/E/G ratio of 0.79 and a beta of 1.21. The firm's 50 day moving average price is $27.27 and its 200-day moving average price is $23.89. The company has a quick ratio of 1.27, a current ratio of 1.29 and a debt-to-equity ratio of 3.21. SLM has a 1-year low of $18.84 and a 1-year high of $31.49.

SLM (NASDAQ:SLM - Get Free Report) last announced its earnings results on Thursday, January 23rd. The credit services provider reported $0.50 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.06). SLM had a net margin of 22.18% and a return on equity of 35.92%. As a group, equities analysts forecast that SLM will post 2.72 EPS for the current fiscal year.

SLM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Wednesday, March 5th. SLM's dividend payout ratio (DPR) is 19.62%.

Insider Activity

In related news, Director Robert S. Strong sold 4,500 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $27.25, for a total transaction of $122,625.00. Following the completion of the sale, the director now owns 83,130 shares in the company, valued at approximately $2,265,292.50. This represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company's stock.

Hedge Funds Weigh In On SLM

A number of hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in SLM by 0.6% during the third quarter. State Street Corp now owns 6,923,576 shares of the credit services provider's stock worth $158,342,000 after acquiring an additional 43,927 shares during the period. Geode Capital Management LLC raised its stake in shares of SLM by 7.5% during the 3rd quarter. Geode Capital Management LLC now owns 4,762,328 shares of the credit services provider's stock worth $108,936,000 after purchasing an additional 331,490 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of SLM by 3,800.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 2,406,384 shares of the credit services provider's stock worth $55,034,000 after buying an additional 2,344,691 shares during the last quarter. Millennium Management LLC grew its position in SLM by 107.1% during the second quarter. Millennium Management LLC now owns 2,366,642 shares of the credit services provider's stock valued at $49,202,000 after buying an additional 1,224,015 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in SLM by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,758,057 shares of the credit services provider's stock valued at $40,207,000 after buying an additional 15,252 shares during the period. 98.94% of the stock is owned by hedge funds and other 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.