SLM (NASDAQ:SLM) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

SLM (NASDAQ:SLM - Free Report) had its target price upped by JPMorgan Chase & Co. from $27.00 to $29.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a neutral rating on the credit services provider's stock.

A number of other analysts have also recently commented on SLM. Royal Bank of Canada reaffirmed an "outperform" rating and set a $26.00 price target on shares of SLM in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $30.00 target price (up previously from $27.00) on shares of SLM in a research note on Monday, December 9th. Wedbush reissued an "outperform" rating and issued a $26.00 price target on shares of SLM in a research note on Thursday, October 24th. Barclays dropped their target price on shares of SLM from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Finally, Morgan Stanley raised their price target on shares of SLM from $26.00 to $32.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $27.45.

SLM Price Performance

Shares of NASDAQ SLM traded up $0.38 during mid-day trading on Tuesday, hitting $27.63. 3,081,860 shares of the stock traded hands, compared to its average volume of 2,529,620. The company has a market cap of $5.87 billion, a PE ratio of 9.63, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21. SLM has a twelve month low of $18.25 and a twelve month high of $28.91. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.29 and a quick ratio of 1.27. The firm has a 50 day simple moving average of $26.43 and a two-hundred day simple moving average of $23.44.

SLM (NASDAQ:SLM - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The credit services provider reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.30). SLM had a net margin of 22.18% and a return on equity of 35.92%. The firm had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. During the same period in the previous year, the business posted $0.11 earnings per share. As a group, equities research analysts forecast that SLM will post 2.73 EPS for the current fiscal year.

SLM Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Thursday, December 5th were given a dividend of $0.13 per share. This is a boost from SLM's previous quarterly dividend of $0.11. The ex-dividend date was Thursday, December 5th. This represents a $0.52 annualized dividend and a dividend yield of 1.88%. SLM's payout ratio is presently 18.12%.

Insider Activity at SLM

In other news, Director Robert S. Strong sold 4,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $27.25, for a total transaction of $122,625.00. Following the completion of the transaction, the director now directly owns 83,130 shares of the company's stock, valued at $2,265,292.50. This represents a 5.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SLM

Several institutional investors have recently bought and sold shares of the company. Waldron Private Wealth LLC purchased a new position in shares of SLM in the third quarter worth about $31,000. True Wealth Design LLC bought a new position in SLM in the 3rd quarter worth approximately $31,000. Blue Trust Inc. grew its stake in SLM by 358.7% in the 3rd quarter. Blue Trust Inc. now owns 1,399 shares of the credit services provider's stock valued at $32,000 after buying an additional 1,094 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in SLM during the 3rd quarter valued at $35,000. Finally, Covestor Ltd lifted its position in shares of SLM by 110.3% during the third quarter. Covestor Ltd now owns 4,404 shares of the credit services provider's stock worth $101,000 after acquiring an additional 2,310 shares in the last quarter. Hedge funds and other institutional investors own 98.94% of the company's stock.

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.