Short Interest in SLM Co. (NASDAQ:SLM) Drops By 46.8%

SLM Co. (NASDAQ:SLM - Get Free Report) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 5,920,000 shares, a decrease of 46.8% from the March 15th total of 11,120,000 shares. Approximately 2.9% of the company's shares are short sold. Based on an average daily volume of 3,190,000 shares, the short-interest ratio is currently 1.9 days.

SLM Stock Up 1.9 %

NASDAQ:SLM traded up $0.50 during trading hours on Friday, hitting $26.78. The stock had a trading volume of 1,979,295 shares, compared to its average volume of 2,185,509. The company has a market cap of $5.64 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.86 and a beta of 1.05. The business has a 50 day simple moving average of $28.86 and a two-hundred day simple moving average of $27.01. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 3.37. SLM has a 1-year low of $19.39 and a 1-year high of $32.65.

SLM (NASDAQ:SLM - Get Free Report) last released its quarterly 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 return on equity of 31.66% and a net margin of 20.73%. Analysts predict that SLM will post 3.07 EPS for the current year.

SLM Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Wednesday, March 5th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Wednesday, March 5th. SLM's payout ratio is currently 19.62%.

Insider Buying and Selling at SLM

In other SLM news, Director Robert S. Strong sold 40,000 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $28.57, for a total transaction of $1,142,800.00. Following the transaction, the director now owns 43,163 shares of the company's stock, valued at $1,233,166.91. This represents a 48.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On SLM

Large investors have recently modified their holdings of the stock. Private Trust Co. NA increased its holdings in shares of SLM by 86.4% in the 4th quarter. Private Trust Co. NA now owns 971 shares of the credit services provider's stock valued at $27,000 after acquiring an additional 450 shares during the last quarter. Fifth Third Bancorp grew its holdings in shares of SLM by 37.7% during the first quarter. Fifth Third Bancorp now owns 1,714 shares of the credit services provider's stock valued at $50,000 after purchasing an additional 469 shares during the last quarter. Blue Trust Inc. raised its position in shares of SLM by 32.2% during the 4th quarter. Blue Trust Inc. now owns 1,849 shares of the credit services provider's stock worth $51,000 after purchasing an additional 450 shares during the period. UMB Bank n.a. grew its stake in SLM by 355.4% during the 1st quarter. UMB Bank n.a. now owns 1,899 shares of the credit services provider's stock worth $56,000 after buying an additional 1,482 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in SLM in the fourth quarter worth $86,000. Institutional investors own 98.94% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SLM. Barclays increased their target price on SLM from $34.00 to $38.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Wells Fargo & Company raised their target price on shares of SLM from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Royal Bank of Canada upped their price target on shares of SLM from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods lifted their price target on shares of SLM from $30.00 to $32.00 and gave the company a "market perform" rating in a report on Friday, January 24th. Finally, Morgan Stanley upped their price objective on SLM from $32.00 to $38.00 and gave the stock an "overweight" rating in a report on Monday, March 10th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, SLM currently has an average rating of "Moderate Buy" and a consensus target price of $31.18.

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.