SLM (NASDAQ:SLM) PT Raised to $27.00

SLM (NASDAQ:SLM - Free Report) had its price objective increased by Barclays from $23.00 to $27.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an overweight rating on the credit services provider's stock.

Other analysts also recently issued reports about the stock. Wedbush lowered their price target on shares of SLM from $29.00 to $26.00 and set an outperform rating on the stock in a report on Tuesday, September 24th. Wells Fargo & Company upped their price target on SLM from $24.00 to $27.00 and gave the stock an overweight rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised their price objective on SLM from $25.00 to $29.00 and gave the company a buy rating in a report on Thursday, July 25th. Keefe, Bruyette & Woods upped their target price on SLM from $25.00 to $27.00 and gave the stock an outperform rating in a research note on Thursday, July 25th. Finally, Bank of America initiated coverage on shares of SLM in a research note on Wednesday, September 25th. They issued a buy rating and a $27.00 price target on the stock. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $24.83.

SLM Stock Performance

SLM stock traded down $0.09 during midday trading on Tuesday, reaching $22.84. The stock had a trading volume of 841,573 shares, compared to its average volume of 1,801,836. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a fifty day simple moving average of $21.38 and a two-hundred day simple moving average of $21.35. The stock has a market cap of $5.02 billion, a PE ratio of 7.14, a P/E/G ratio of 0.57 and a beta of 1.15. SLM has a 52-week low of $12.26 and a 52-week high of $23.95.

SLM (NASDAQ:SLM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.32. The company had revenue of $783.28 million during the quarter, compared to analyst estimates of $368.97 million. SLM had a net margin of 24.67% and a return on equity of 41.84%. During the same period last year, the firm posted $1.10 EPS. As a group, equities research analysts anticipate that SLM will post 2.83 EPS for the current year.

SLM Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $0.44 annualized dividend and a yield of 1.93%. SLM's dividend payout ratio (DPR) is currently 13.75%.

Insider Buying and Selling at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of the business's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.70, for a total value of $102,150.00. Following the sale, the director now owns 101,093 shares of the company's stock, valued at $2,294,811.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On SLM

A number of hedge funds have recently added to or reduced their stakes in SLM. Neuberger Berman Group LLC raised its position in SLM by 3.0% in the 4th quarter. Neuberger Berman Group LLC now owns 26,541 shares of the credit services provider's stock valued at $507,000 after purchasing an additional 772 shares in the last quarter. Caxton Associates LP raised its holdings in SLM by 127.6% in the fourth quarter. Caxton Associates LP now owns 149,762 shares of the credit services provider's stock valued at $2,863,000 after acquiring an additional 83,952 shares in the last quarter. Oracle Alpha Inc. purchased a new position in SLM in the fourth quarter worth approximately $349,000. Quarry LP grew its holdings in SLM by 78.6% during the 4th quarter. Quarry LP now owns 2,962 shares of the credit services provider's stock worth $57,000 after acquiring an additional 1,304 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of SLM in the 4th quarter valued at approximately $40,000. 98.94% of the stock is currently owned by institutional investors and hedge funds.

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.