SLM (NASDAQ:SLM) Sees Strong Trading Volume on Analyst Upgrade

SLM Co. (NASDAQ:SLM - Get Free Report) shares saw unusually-high trading volume on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $27.00 to $29.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Approximately 1,507,940 shares were traded during trading, a decline of 35% from the previous session's volume of 2,321,615 shares.The stock last traded at $28.07 and had previously closed at $27.63.

A number of other equities research analysts have also recently commented on SLM. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $30.00 price objective (up previously from $27.00) on shares of SLM in a research note on Monday, December 9th. Bank of America started coverage on SLM in a research report on Wednesday, September 25th. They set a "buy" rating and a $27.00 target price on the stock. Royal Bank of Canada reiterated an "outperform" rating and set a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Wedbush reiterated an "outperform" rating and set a $26.00 target price on shares of SLM in a research report on Thursday, October 24th. Finally, Morgan Stanley increased their target price on SLM from $26.00 to $32.00 and gave the company an "overweight" rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $27.45.

Insider Buying and Selling at SLM

In other SLM news, Director Robert S. Strong sold 4,500 shares of the firm'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 transaction, the director now owns 83,130 shares in the company, valued at approximately $2,265,292.50. This trade represents a 5.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Empowered Funds LLC raised its holdings in shares of SLM by 4.8% during the 3rd quarter. Empowered Funds LLC now owns 11,594 shares of the credit services provider's stock worth $265,000 after acquiring an additional 526 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of SLM by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,825 shares of the credit services provider's stock worth $933,000 after acquiring an additional 552 shares during the period. GAMMA Investing LLC raised its holdings in shares of SLM by 13.3% during the 3rd quarter. GAMMA Investing LLC now owns 5,077 shares of the credit services provider's stock worth $116,000 after acquiring an additional 594 shares during the period. Creative Planning raised its holdings in shares of SLM by 5.3% during the 3rd quarter. Creative Planning now owns 18,708 shares of the credit services provider's stock worth $428,000 after acquiring an additional 942 shares during the period. Finally, US Bancorp DE raised its holdings in shares of SLM by 12.3% during the 3rd quarter. US Bancorp DE now owns 9,368 shares of the credit services provider's stock worth $214,000 after acquiring an additional 1,029 shares during the period. Hedge funds and other institutional investors own 98.94% of the company's stock.

SLM Stock Performance

The company has a current ratio of 1.29, a quick ratio of 1.27 and a debt-to-equity ratio of 3.21. The firm has a fifty day moving average price of $26.54 and a 200 day moving average price of $23.49. The firm has a market cap of $5.99 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.85 and a beta of 1.21.

SLM (NASDAQ:SLM - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported ($0.23) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.30). The business had revenue of $652.64 million for the quarter, compared to analyst estimates of $363.40 million. SLM had a return on equity of 35.92% and a net margin of 22.18%. During the same period in the previous year, the business posted $0.11 earnings per share. As a group, equities research analysts expect that SLM Co. will post 2.73 earnings per share for the current fiscal year.

SLM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Thursday, December 5th were given a $0.13 dividend. This is an increase from SLM's previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 1.84%. The ex-dividend date was Thursday, December 5th. SLM's payout ratio is currently 18.12%.

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.