Amalgamated Bank cut its stake in shares of SLM Co. (NASDAQ:SLM - Free Report) by 22.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 103,702 shares of the credit services provider's stock after selling 30,509 shares during the quarter. Amalgamated Bank's holdings in SLM were worth $2,372,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Waldron Private Wealth LLC bought a new position in SLM in the 3rd quarter worth approximately $31,000. Blue Trust Inc. boosted 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 worth $32,000 after purchasing an additional 1,094 shares during the period. International Assets Investment Management LLC bought a new position in SLM in the 2nd quarter worth approximately $60,000. Covestor Ltd boosted its stake in SLM by 378.1% in the 1st quarter. Covestor Ltd now owns 3,050 shares of the credit services provider's stock worth $66,000 after purchasing an additional 2,412 shares during the period. Finally, GAMMA Investing LLC boosted its stake in SLM by 13.3% in the 3rd quarter. GAMMA Investing LLC now owns 5,077 shares of the credit services provider's stock worth $116,000 after purchasing an additional 594 shares during the period. 98.94% of the stock is currently owned by institutional investors.
SLM Stock Performance
Shares of SLM stock remained flat at $23.90 during trading on Tuesday. The stock had a trading volume of 675,357 shares, compared to its average volume of 1,794,885. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 0.98 and a beta of 1.16. The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. SLM Co. has a 1 year low of $13.93 and a 1 year high of $24.59. The firm's 50-day moving average is $22.21 and its two-hundred day moving average is $21.62.
SLM (NASDAQ:SLM - Get Free Report) last released its 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 return on equity of 35.92% and a net margin of 22.18%. The firm had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. During the same period last year, the firm earned $0.11 EPS. As a group, equities analysts expect that SLM Co. will post 2.73 EPS for the current year.
SLM Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be given a $0.13 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This is a boost from SLM's previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.18%. SLM's payout ratio is 15.33%.
Wall Street Analysts Forecast Growth
SLM has been the subject of several recent analyst reports. Barclays dropped their price target on SLM from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Bank of America initiated coverage on SLM in a report on Wednesday, September 25th. They set a "buy" rating and a $27.00 price objective on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. Keefe, Bruyette & Woods upped their price objective on SLM from $25.00 to $27.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Finally, JPMorgan Chase & Co. decreased their price objective on SLM from $25.00 to $24.00 and set a "neutral" rating on the stock in a report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, SLM presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.45.
Check Out Our Latest Stock Report on SLM
About SLM
(
Free Report)
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.
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