Barclays Forecasts Strong Price Appreciation for SLM (NASDAQ:SLM) Stock

SLM (NASDAQ:SLM - Free Report) had its target price increased by Barclays from $34.00 to $38.00 in a report published on Tuesday,Benzinga reports. Barclays currently has an overweight rating on the credit services provider's stock.

A number of other research analysts have also weighed in on the stock. Compass Point raised their target price on shares of SLM from $31.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. 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 note on Friday, January 24th. Royal Bank of Canada raised their target price on shares of SLM from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their target price on shares of SLM from $30.00 to $32.00 and gave the stock a "market perform" rating in a research note on Friday, January 24th. Finally, Wedbush reissued an "outperform" rating and issued a $26.00 target price on shares of SLM in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, SLM presently has an average rating of "Moderate Buy" and an average target price of $30.91.

SLM Price Performance

SLM stock traded down $1.35 during midday trading on Tuesday, reaching $30.68. The company had a trading volume of 5,500,445 shares, compared to its average volume of 2,736,151. The company has a market capitalization of $6.51 billion, a P/E ratio of 11.58, a P/E/G ratio of 0.87 and a beta of 1.22. SLM has a 12-month low of $19.39 and a 12-month high of $32.65. The firm's fifty day simple moving average is $28.68 and its 200-day simple moving average is $24.92. The company has a debt-to-equity ratio of 3.37, a current ratio of 1.32 and a quick ratio of 1.27.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The credit services provider reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.06). SLM had a net margin of 20.73% and a return on equity of 31.66%. As a group, equities analysts anticipate that SLM will post 3.07 EPS for the current year.

SLM Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a $0.13 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $0.52 annualized dividend and a yield of 1.69%. SLM's dividend payout ratio (DPR) is presently 19.62%.

Insider Activity at SLM

In related news, Director Robert S. Strong sold 40,000 shares of SLM stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $28.57, for a total value of $1,142,800.00. Following the completion of the sale, the director now owns 43,163 shares in the company, valued at approximately $1,233,166.91. This trade represents a 48.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.20% of the stock is owned by insiders.

Institutional Trading of SLM

Several institutional investors have recently added to or reduced their stakes in SLM. Creative Planning boosted its position in SLM by 5.3% in the 3rd quarter. Creative Planning now owns 18,708 shares of the credit services provider's stock valued at $428,000 after buying an additional 942 shares during the period. Blue Trust Inc. boosted its position 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 during the period. Allspring Global Investments Holdings LLC boosted its position in SLM by 294.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 51,248 shares of the credit services provider's stock valued at $1,172,000 after buying an additional 38,269 shares during the period. Waldron Private Wealth LLC purchased a new position in SLM in the 3rd quarter valued at approximately $31,000. Finally, International Assets Investment Management LLC boosted its position in SLM by 2,187.0% in the 3rd quarter. International Assets Investment Management LLC now owns 66,254 shares of the credit services provider's stock valued at $1,515,000 after buying an additional 63,357 shares during the period. Institutional investors and hedge funds 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.