Royal Bank of Canada Issues Positive Forecast for SLM (NASDAQ:SLM) Stock Price

SLM (NASDAQ:SLM - Free Report) had its price objective raised by Royal Bank of Canada from $30.00 to $32.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an outperform rating on the credit services provider's stock.

SLM has been the topic of several other research reports. Compass Point increased their price target on shares of SLM from $31.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday. Wedbush restated an "outperform" rating and set a $26.00 price objective on shares of SLM in a report on Thursday, October 24th. Barclays cut their price target 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. JPMorgan Chase & Co. raised their price objective on shares of SLM from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Morgan Stanley upped their price objective on SLM from $26.00 to $32.00 and gave the stock an "overweight" rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $29.82.

SLM Stock Down 1.0 %

SLM stock 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 company has a market cap of $6.16 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 0.79 and a beta of 1.21. The company's fifty day moving average price is $27.27 and its 200-day moving average price is $23.91. The company has a debt-to-equity ratio of 3.21, a current ratio of 1.29 and a quick ratio of 1.27. SLM has a fifty-two week low of $18.84 and a fifty-two week high of $31.49.

SLM (NASDAQ:SLM - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share (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%. On average, research analysts predict that SLM will post 2.72 EPS for the current fiscal year.

SLM Dividend Announcement

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

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 on Monday, December 2nd. The stock was sold at an average price of $27.25, for a total value of $122,625.00. Following the sale, the director now directly owns 83,130 shares of the company's stock, valued at approximately $2,265,292.50. The trade was a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On SLM

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Assenagon Asset Management S.A. lifted its holdings in SLM by 3,800.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,406,384 shares of the credit services provider's stock valued at $55,034,000 after buying an additional 2,344,691 shares in the last quarter. Millennium Management LLC increased its holdings 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. AQR Capital Management LLC raised its position in shares of SLM by 253.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,290,997 shares of the credit services provider's stock worth $26,840,000 after acquiring an additional 926,120 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of SLM by 7.5% during the third quarter. Geode Capital Management LLC now owns 4,762,328 shares of the credit services provider's stock valued at $108,936,000 after buying an additional 331,490 shares during the last quarter. Finally, AXA S.A. acquired a new stake in SLM in the second quarter valued at approximately $5,046,000. 98.94% of the stock is owned by institutional investors.

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.